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Mar 31, 2023
Ardelyx Q1 2023 Earnings Report
Reported first quarter 2023 financial results and provided a business update.
Key Takeaways
Ardelyx reported Q1 2023 financial results, highlighting the continued successful launch of IBSRELA with $11.4 million in net product sales. The company ended the quarter with over $130 million in cash and investments and resubmitted the XPHOZAH New Drug Application on April 17, 2023.
IBSRELA growth continues with $11.4 million in net product sales in Q1 2023.
IBSRELA continues to gain market share as a result of the company executing on its innovative launch strategy.
XPHOZAH New Drug Application (NDA) resubmitted on April 17, 2023.
The company signed an agreement with METiS Therapeutics, Inc. to license Ardelyx’s portfolio of TGR5 agonist compounds.
Forward Guidance
The company will continue to focus on achieving near-term milestones, including driving IBSRELA adoption and preparing to launch XPHOZAH in the second half of this year pending FDA approval.
Positive Outlook
- Continued IBSRELA adoption
- Preparing to launch XPHOZAH in the second half of this year pending FDA approval
- Building on our strategy for the next phase of the company’s growth
Historical Earnings Impact
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Avg. Return Before/After Earnings
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