Ardelyx Beats Q3 Sales Estimates, Shares Climb

Erica Kollmann

October 31, 2024

Ardelyx, Inc. (NASDAQ:ARDX) reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report.

The Details: Ardelyx reported quarterly sales of $98.24 million, which beat the analyst consensus estimate of $86.64 million.

The company reported IBSRELA generated $40.6 million in net product sales revenue and the company expects full-year 2024 IBSRELA net sales revenue to be between $145 million and $150 million.

XPHOZAH generates $51.5 million in net product sales revenue and Ardelyx ended the quarter with approximately $190 million in cash, cash equivalents and investments.

Read Next: Reddit ‘Remains A Favorite’ For Wall Street After ‘Emphatic Beat And Raise’ In Q3

“The continued strong performance of Ardelyx reported during the third quarter demonstrates our ability to execute and deliver on our goals, to focus on serving the patient and to build towards the future,” said Mike Raab, president and CEO of Ardelyx.

ARDX Price Action: According to Benzinga Pro, Ardelyx shares are up 3.07% after-hours at $6.05 at the time of publication Thursday.

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Photo: HeungSoon from Pixabay

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