Ardelyx, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 07:00 am EDT
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Ardelyx, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 56.39 million compared to USD 4.99 million a year ago. Net income was USD 6.63 million compared to net loss of USD 22.89 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to diluted loss per share from continuing operations of USD 0.14 a year ago.
For the nine months, revenue was USD 90.09 million compared to USD 7.98 million a year ago. Net loss was USD 37.27 million compared to USD 77.9 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.53 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to USD 0.53 a year ago.
Ardelyx, Inc. is a biopharmaceutical company. The Company focuses on discovery, development, and commercialization of advanced medicines that meet significant unmet medical needs. It has two commercial products IBSRELA (tenapanor) and XPHOZAH. Its product pipeline includes RDX013 Program and RDX020 Program. Tenapanor is a small molecule therapy in development for the treatment of or the control of hyperphosphatemia or serum phosphorus in adult patients with chronic kidney disease (CKD) on dialysis. Tenapanor has a mechanism of action and acts locally in the gut to inhibit the sodium hydrogen exchanger 3 (NHE3). IBSRELA is developed for the treatment of patients with irritable bowel syndrome with constipation (IBS-C). XPHOZAH is a medicine for the control of serum phosphorus in adult patients with CKD on dialysis. RDX013 Program is a small molecule potassium secretagogue program for the treatment of hyperkalemia. RDX020 Program is a small molecule for treating metabolic acidosis.