On May 2, 2024, Ardelyx, Inc., a biopharmaceutical company, reported its financial results for the first quarter ending March 31, 2024. The company announced substantial revenue growth, driven by its two main products, IBSRELA and XPHOZAH. Ardelyx recorded $45.6 million in product-related revenue for the quarter, with $28.4 million from IBSRELA and $15.2 million from XPHOZAH. The company ended the quarter with approximately $203 million in cash and investments. The financial report highlighted significant year-over-year growth and the successful commercial performance of both products. Ardelyx expects full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million. The company also announced the appointment of Mike Kelliher as Executive Vice President, Corporate Development and Strategy. Total revenue for the quarter was $46.0 million...Show More

On May 2, 2024, Ardelyx, Inc., a biopharmaceutical company, reported its financial results for the first quarter ending March 31, 2024. The company announced substantial revenue growth, driven by its two main products, IBSRELA and XPHOZAH. Ardelyx recorded $45.6 million in product-related revenue for the quarter, with $28.4 million from IBSRELA and $15.2 million from XPHOZAH. The company ended the quarter with approximately $203 million in cash and investments. The financial report highlighted significant year-over-year growth and the successful commercial performance of both products. Ardelyx expects full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million. The company also announced the appointment of Mike Kelliher as Executive Vice President, Corporate Development and Strategy. Total revenue for the quarter was $46.0 million, compared to $11.4 million in the same period of 2023. Research and development expenses were $10.6 million, and selling, general and administrative expenses were $53.0 million. The net loss for the quarter was $26.5 million, or $(0.11) per share. The company also provided important safety information for IBSRELA and XPHOZAH, highlighting the risk of serious dehydration in pediatric patients and contraindications in certain individuals.