Palladio Biosciences is developing lixivaptan for the treatment of autosomal dominant polycystic kidney disease (ADPKD). Lixivaptan is an orally active, non-peptide, competitive and selective antagonist for the vasopressin V2 receptor. It is not currently approved for human use anywhere in the world; however, it has an extensive data package that includes a full pre-clinical characterization and data from 36 clinical studies. Lixivaptan is functionally equivalent to tolvaptan which was approved in the U.S. in 2018. Lixivaptan recently successfully completed a Phase 2 trial examining the safety, pharmacokinetics, and pharmacodynamics of multiple doses of lixivaptan in patients with ADPKD.