Ardelyx, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 07:03 am EDT
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Ardelyx, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 22.33 million compared to USD 2.53 million a year ago. Net loss was USD 17.12 million compared to USD 26.94 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to USD 0.19 a year ago.
For the six months, revenue was USD 33.7 million compared to USD 2.99 million a year ago. Net loss was USD 43.89 million compared to USD 55.01 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.4 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to USD 0.4 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.