Ardelyx reported robust Q2 2024 financial results with total revenue reaching $73.2M, driven by strong performance of both flagship products. IBSRELA generated $35.4M in net sales, showing 25% QoQ growth, while XPHOZAH contributed $37.1M, significantly up from $15.2M in Q1 2024. The company maintains its full-year 2024 IBSRELA revenue guidance of $140-150M.The company ended Q2 with $186M in cash and investments. R&D expenses were $12.8M, up from $8.3M YoY, while SG&A expenses increased to $64.7M from $27.2M, primarily due to commercialization efforts. Net loss for the quarter was $16.5M, or $0.07 per share.Ardelyx is actively addressing CMS's proposed inclusion of oral-only phosphate lowering therapies in the ESRD PPS, which could restrict XPHOZAH access. The company has filed a lawsuit against CMS in partnership with kidney patient advocacy groups, aiming to protect patient access to treatment options.

Ardelyx reported robust Q2 2024 financial results with total revenue reaching $73.2M, driven by strong performance of both flagship products. IBSRELA generated $35.4M in net sales, showing 25% QoQ growth, while XPHOZAH contributed $37.1M, significantly up from $15.2M in Q1 2024. The company maintains its full-year 2024 IBSRELA revenue guidance of $140-150M.The company ended Q2 with $186M in cash and investments. R&D expenses were $12.8M, up from $8.3M YoY, while SG&A expenses increased to $64.7M from $27.2M, primarily due to commercialization efforts. Net loss for the quarter was $16.5M, or $0.07 per share.Ardelyx is actively addressing CMS's proposed inclusion of oral-only phosphate lowering therapies in the ESRD PPS, which could restrict XPHOZAH access. The company has filed a lawsuit against CMS in partnership with kidney patient advocacy groups, aiming to protect patient access to treatment options.