Ardelyx Exceeds Q3 Sales Expectations, Shares Rise
Intellectia.AI
Ardelyx, Inc. (ARDX) has reported its financial results for the third quarter, surpassing sales expectations. The company achieved quarterly sales of $98.24 million, exceeding the analyst consensus estimate of $86.64 million. Key product IBSRELA contributed $40.6 million to net product sales revenue, with projected full-year 2024 revenue between $145 million and $150 million. Additionally, XPHOZAH generated $51.5 million in net product sales revenue. Ardelyx concluded the quarter with approximately $190 million in cash, cash equivalents, and investments. Following the announcement, Ardelyx shares rose by 3.07% to $6.05 in after-hours trading. According to CEO Mike Raab, the strong performance reflects the company's commitment to achieving its objectives and focusing on patient needs.
Share
Want more financial insights delivered directly to your inbox?
Subscribe now and receive handpicked financial news, insights, and trending topics.