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Sep 30, 2022
Ardelyx Q3 2022 Earnings Report
Reported financial results for the third quarter ended September 30, 2022.
Key Takeaways
Ardelyx reported a net product sales for IBSRELA were $4.9 million, collaboration revenue of $0.1 million, R&D expenses of $7.5 million, SG&A expenses of $18.7 million and net loss of $22.9 million for the quarter ended September 30, 2022.
Net product sales for IBSRELA were $4.9 million during the quarter ended September 30, 2022.
Collaboration revenue was $0.1 million for the quarter ended September 30, 2022.
Research and development expenses were $7.5 million for the quarter ended September 30, 2022.
Net loss for the quarter ended September 30, 2022 was $22.9 million, or $(0.14) per share.
Forward Guidance
Ardelyx expects to receive an aggregate of $35 million in milestone payments and payments associated with the 2022 amendment of the license agreement.
Positive Outlook
- Continued commercial progress with IBSRELA
- Upcoming FDA Advisory Committee meeting for XPHOZAH® on November 16, 2022
- Expects to receive an aggregate of $35 million in milestone payments
- Payments associated with the 2022 amendment of the license agreement.
- Strong demand and market receptivity for our novel treatment option in the IBS-C market.
Challenges Ahead
- Uncertainties associated with the commercialization of drugs
- Uncertainties regarding the FDA regulatory process
- Risk of serious dehydration in pediatric patients
- Diarrhea was the most common adverse reaction
Historical Earnings Impact
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Avg. Return Before/After Earnings
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