Earnings summaries and quarterly performance for ARDELYX.
Executive leadership at ARDELYX.
Michael Raab
Detailed
Chief Executive Officer
CEO
EG
Elizabeth Grammer
Detailed
Chief Legal and Administrative Officer
EF
Eric Foster
Detailed
Chief Commercial Officer
LW
Laura Williams
Detailed
Chief Patient Officer
MK
Mike Kelliher
Detailed
Executive Vice President, Corporate Development and Strategy
SH
Sue Hohenleitner
Detailed
Chief Financial Officer
Board of directors at ARDELYX.
Research analysts who have asked questions during ARDELYX earnings calls.
Joseph Thome
TD Cowen
4 questions for ARDX
Also covers: ALKS, AMLX, ARWR +12 more
LC
Laura Chico
Wedbush Securities
4 questions for ARDX
Also covers: APLS, BCRX, BHVN +11 more
Ryan Deschner
Raymond James Financial
4 questions for ARDX
Also covers: APLS, ARSP, GLMD +7 more
LC
Louise Chen
Cantor Fitzgerald
3 questions for ARDX
Also covers: CNTB, IMAB, IMVT +14 more
Aydin Huseynov
Ladenburg Thalmann
2 questions for ARDX
Also covers: CAPR, CLRB, CMPX +3 more
CR
Christopher Raymond
Piper Sandler
2 questions for ARDX
Also covers: ABBV, AGIO, AMGN +7 more
DD
Dennis Ding
Jefferies Financial Group Inc.
2 questions for ARDX
Also covers: CARA, FOLD, INDV +5 more
Prakhar Agrawal
Cantor Fitzgerald
2 questions for ARDX
Also covers: ARWR, MDGL, ROIV +4 more
RC
Roanna Clarissa Ruiz
Leerink Partners
2 questions for ARDX
Also covers: AKBA, AQST, CRMD +5 more
YD
Yuchen Ding
H.C. Wainwright & Co.
2 questions for ARDX
Also covers: ABUS, CRNX, RYTM
Allison Bratzel
Piper Sandler Companies
1 question for ARDX
Also covers: ABCL, AKBA, ALXO +5 more
Ashleigh Acker
Piper Sandler Companies
1 question for ARDX
John Kim
BMO Capital Markets
1 question for ARDX
Also covers: AIV, ALX, ARE +32 more
MK
Matthew Kaplan
Ladenburg Thalmann
1 question for ARDX
Also covers: AXSM, CORT, ELDN +8 more
TY
Thomas Yip
H.C. Wainwright & Co.
1 question for ARDX
Also covers: ABUS, ENTA, GALT +6 more
YN
Yigal Nochomovitz
Citigroup Inc.
1 question for ARDX
Also covers: ALDX, APLS, ARCT +22 more
Recent press releases and 8-K filings for ARDX.
Ardelyx Reports Preliminary 2025 Revenue and Provides 2026 Outlook
ARDX
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Ardelyx reported preliminary and unaudited 2025 total product revenue of approximately $378 million, with IBSRELA revenue at $274 million (73% growth over 2024) and XPHOZAH revenue at $104 million.
- For 2026, the company expects IBSRELA revenue between $410 million and $430 million (at least 50% growth) and XPHOZAH revenue between $110 million and $120 million.
- Ardelyx anticipates IBSRELA revenue to reach $1 billion by 2029.
- As of December 31, 2025, Ardelyx held $265 million in cash, cash equivalents, and investments.
- The company commenced a Phase 3 clinical trial for IBSRELA in chronic idiopathic constipation and received a Notice of Allowance for a patent extending intellectual property protection for IBSRELA and XPHOZAH until December 6, 2041.
Jan 8, 2026, 1:30 PM
Ardelyx Discusses Product Growth, Pipeline, and Financial Outlook
ARDX
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Ardelyx reported a "phenomenal year" for its commercial products, IBSRELA and XPHOZAH, with IBSRELA's guidance increased to $270 million-$275 million (implied FY 2025) and a re-emphasized $1 billion opportunity.
- The company is navigating a "tumultuous period" for XPHOZAH due to the TDAPA period, which ends in 2026, but expects a long-term peak sales potential of $750 million by targeting 60,000 patients.
- Ardelyx is approaching cash flow positivity, excluding stock-based compensation, and ended Q3 with $242 million in cash.
- A new, more potent and soluble NHE3 inhibitor molecule, 531, is in development, with an IND filing expected next year, offering potential lifecycle management for IBSRELA and new indications.
Nov 19, 2025, 4:30 PM
Ardelyx Updates on IBSRELA Growth, XPHOZAH Outlook, and Pipeline at Jefferies Conference
ARDX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Ardelyx raised its IBSRELA guidance to $270 million-$275 million for the third quarter and projects a $1 billion opportunity for the drug, driven by strong patient satisfaction and ongoing sales force expansion.
- The company anticipates achieving profitability in 2026, having reported $242 million in cash at the end of Q3 and nearly $1 million in positive cash flow (excluding stock-based compensation).
- Despite current challenges with XPHOZAH due to the TDAPA period ending in 2026, Ardelyx maintains a long-term peak sales guidance of $750 million for the drug.
- Ardelyx announced a new, more potent NHE3 inhibitor, 531, with an Investigational New Drug (IND) filing expected next year, which could serve as lifecycle management for IBSRELA or lead to new indications.
Nov 19, 2025, 4:30 PM
Ardelyx Discusses XPHOZAH Performance, Medicare Appeal, and Pipeline Expansion
ARDX
Legal Proceedings
Product Launch
New Projects/Investments
- Ardelyx's XPHOZAH is demonstrating significant real-world effectiveness in lowering serum phosphorus to previously unattainable levels, with patient satisfaction improving as clinicians manage side effect expectations.
- The appeals court hearing regarding Medicare coverage for XPHOZAH is viewed as a "free call option," with a decision expected by tomorrow or sometime next year. Reinstatement would likely involve prior authorization, similar to its initial launch.
- Ardelyx strategically opted out of the TDAPA period for XPHOZAH to protect its non-Medicare market and avoid negative pricing impacts, noting that CMS did not include XPHOZAH for a base rate increase for providers. The TDAPA period for binders is projected to last two years.
- IBSRELA is experiencing increased new prescriptions (NRX) due to salesforce and field access manager restructuring, alongside effective omnichannel marketing. Ardelyx is also advancing its pipeline with 531, a new molecule with IND submission updates anticipated in 2026.
- Management expects 2026 to be a "breakout year" for Ardelyx, driven by IBSRELA's strong performance and XPHOZAH's continued success in a challenging market, aiming to solidify the company's sustainable growth.
Nov 10, 2025, 4:30 PM
Ardelyx Presents Positive XPHOZAH Real-World Data at ASN Kidney Week
ARDX
- Ardelyx presented real-world study data for XPHOZAH at the American Society of Nephrology’s Kidney Week on November 7, 2025.
- The studies demonstrated that XPHOZAH led to a reduction in serum phosphate in patients with hyperphosphatemia on maintenance dialysis, with nearly half of participants (45.3%) experiencing a ≥1 mg/dL reduction.
- Patient surveys indicated positive experiences with XPHOZAH, with 63% of patients reporting better phosphate levels and improvements in bowel movements and lower pill burden.
- A cost-effectiveness analysis presented by Ardelyx's partner, Kyowa Kirin Co., Ltd., concluded that tenapanor was cost-effective for hemodialysis patients in Japan.
Nov 7, 2025, 9:05 PM
Ardelyx Reports Strong Q3 2025 Results, Raises IBSRELA Guidance, and Announces New Pipeline Asset
ARDX
Earnings
Guidance Update
New Projects/Investments
- Ardelyx reported total revenue of $110.3 million for Q3 2025, marking a 12% increase compared to Q3 2024. This was driven by IBSRELA revenue of $78.2 million, a 92% increase year-over-year, and XPHOZAH revenue of $27.4 million, a 9% increase compared to Q2 2025.
- The company raised its full-year guidance for IBSRELA revenue to between $270 million and $275 million.
- Ardelyx announced RDX 10531 (531), a next-generation NHE3 inhibitor, as its first new development program in over three years, with preclinical and manufacturing activities underway for a Phase I study.
- The company concluded Q3 2025 with a strong balance sheet, including $242.7 million in cash, cash equivalents, and short-term investments, and reported a net loss of approximately $1 million. Suhong Leitner was also welcomed as the new Chief Financial Officer.
Oct 30, 2025, 8:30 PM
Ardelyx Reports Q3 2025 Financial Results and Raises IBSRELA Guidance
ARDX
Earnings
Guidance Update
Management Change
- Ardelyx reported Q3 2025 total revenue of $110.3 million , with IBSRELA revenue of $78.2 million , which grew 92% year-over-year , and XPHOZAH revenue of $27.4 million , up 9% from Q2 2025.
- The company raised its IBSRELA full-year 2025 revenue guidance to between $270 million and $275 million.
- Ardelyx announced the development of RDX10531, a next-generation NHE3 inhibitor, with an Investigational New Drug (IND) submission planned for 2026.
- The company ended Q3 2025 with $242.7 million in cash, cash equivalents, and short-term investments and reported a net loss of $1.0 million.
- Sue Hohenleitner was appointed as Chief Financial Officer, effective November 4, 2025.
Oct 30, 2025, 8:09 PM
Ardelyx Provides Updates on Product Momentum, Raised Guidance, and Legal Proceedings
ARDX
Guidance Update
Legal Proceedings
Revenue Acceleration/Inflection
- Ardelyx is highly confident in its two main products, projecting Ibsrela to reach $1 billion in sales and Exposa to reach $750 million.
- The company raised its full-year guidance for Ibsrela from $240 million-$250 million to $250 million-$260 million.
- Exposa has shown month-over-month prescription growth since February, with positive Q2 signs in new and refill prescriptions, as the company focuses on the 220,000-patient non-Medicare market.
- A hearing for Ardelyx's legal challenge against CMS regarding the TDAPA rule is scheduled for September 25 in district court.
- The company indicates that profitability and breakeven are not far in the distant horizon.
Sep 3, 2025, 6:06 PM
Quarterly earnings call transcripts for ARDELYX.
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