On October 31, 2024, Ardelyx, Inc., a biopharmaceutical company, reported its financial results for the third quarter ending September 30, 2024. The company announced significant growth in net product sales revenue for its two products, IBSRELA and XPHOZAH, with IBSRELA generating $40.6 million and XPHOZAH $51.5 million in net sales. This marks a substantial increase compared to the same period in the previous year. Ardelyx ended the quarter with approximately $190 million in cash, cash equivalents, and investments. The company's president and CEO, Mike Raab, highlighted the consistent growth of IBSRELA and the strong demand for XPHOZAH, emphasizing the company's commitment to patient access and future business expansion. Additionally, Ardelyx amended its loan agreement with SLR Capital Partners, drawing $50 million and adding the opportunity for...Show More

On October 31, 2024, Ardelyx, Inc., a biopharmaceutical company, reported its financial results for the third quarter ending September 30, 2024. The company announced significant growth in net product sales revenue for its two products, IBSRELA and XPHOZAH, with IBSRELA generating $40.6 million and XPHOZAH $51.5 million in net sales. This marks a substantial increase compared to the same period in the previous year. Ardelyx ended the quarter with approximately $190 million in cash, cash equivalents, and investments. The company's president and CEO, Mike Raab, highlighted the consistent growth of IBSRELA and the strong demand for XPHOZAH, emphasizing the company's commitment to patient access and future business expansion. Additionally, Ardelyx amended its loan agreement with SLR Capital Partners, drawing $50 million and adding the opportunity for an additional $50 million at the same interest rate. The company also had a significant presence at medical conferences, presenting data and engaging with the scientific community. For the quarter, Ardelyx reported a net loss of $0.8 million, or $(0.00) per share, which included share-based compensation and non-cash interest expenses. The company's financial position remains strong, with a cash balance increase from the previous year-end and a robust revenue stream from its products.