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Sep 30, 2023
Ardelyx Q3 2023 Earnings Report
Reported a net income and increased revenue driven by IBSRELA sales and licensing agreements.
Key Takeaways
Ardelyx reported a net income of $6.6 million for Q3 2023, a significant improvement compared to the net loss of $22.9 million in Q3 2022. The company's total revenue increased to $56.4 million, driven by strong IBSRELA sales and licensing revenue. They also received FDA approval for XPHOZAH and initiated its commercial launch.
IBSRELA net sales revenue reached $22.3 million in Q3, a 22% increase quarter-over-quarter.
XPHOZAH received FDA approval on October 17, with launch activities underway.
The company ended Q3 with $165.1 million in cash, cash equivalents, and short-term investments.
Full-year 2023 IBSRELA U.S. net sales revenue guidance is expected to be $76 to $78 million.
Forward Guidance
Ardelyx expects full-year 2023 U.S. net product revenue for IBSRELA to be between $76.0 and $78.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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