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Jun 30, 2021
Ardelyx Q2 2021 Earnings Report
Reported business events and financial results.
Key Takeaways
Ardelyx reported $1.3 million in revenue for Q2 2021, primarily from collaborative development with Kyowa Kirin. R&D expenses increased due to clinical study costs, while G&A expenses rose due to commercial infrastructure investments. The company's net loss was $45.2 million, compared to $25.0 million in the same quarter of the prior year. Ardelyx had $171.8 million in cash, cash equivalents, and short-term investments as of June 30, 2021.
Received a Complete Response Letter (CRL) from the FDA for tenapanor NDA.
Began implementing a restructuring plan to align workforce and spending post-CRL.
Two presentations highlighting tenapanor data were given at the ERA-EDTA Virtual Congress 2021.
Revenue primarily derived from collaborative development with Kyowa Kirin.
Forward Guidance
Forward-looking statements involve risks and uncertainties, including interactions with the FDA, the possibility of a pathway to approval of tenapanor, and the costs associated with the restructuring plan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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