Ashleigh Acker's questions to Ardelyx Inc (ARDX) leadership • Q2 2025
Question
Ashleigh Acker, on for Allison Pratzel of Piper Sandler, asked what specific metrics for Xphozah would provide the confidence to issue guidance. She also inquired about expectations for licensing and product supply revenue in the second half of the year.
Answer
CEO Mike Raab indicated that seeing "more of the same" consistent performance from Xphozah would be the trigger for providing guidance. CFO Justin Renz projected that product supply revenue from partners would be limited in Q3 but expects an order in Q4 comparable to Q2's $6 million, noting that partner orders are not consistently quarterly.