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Dec 31, 2023
Ardelyx Q4 2023 Earnings Report
Reported strong commercial performance of IBSRELA and XPHOZAH, exceeding expectations and achieving significant revenue growth.
Key Takeaways
Ardelyx reported strong Q4 2023 financial results, driven by the commercial performance of IBSRELA and the launch of XPHOZAH. The company finished the year with $184.3 million in cash and investments and anticipates continued growth in 2024.
IBSRELA achieved $28.1 million in U.S. net product sales revenue, reflecting 26% growth compared to the third quarter of 2023.
XPHOZAH recorded $2.5 million in net product sales revenue following its launch in November 2023.
The company expects IBSRELA to achieve greater than 10 percent share of the prescription irritable bowel syndrome with constipation (IBS-C) market at peak and generate more than $1.0 billion in annual U.S. net product sales revenue before patent term expiration.
Ardelyx currently expects full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million.
Forward Guidance
Ardelyx anticipates continued growth in 2024, driven by the commercial performance of IBSRELA and the launch of XPHOZAH. Ardelyx currently expects full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million.
Positive Outlook
- Strong commercial performance of IBSRELA continues.
- XPHOZAH launch off to a strong start.
- Company expects IBSRELA to achieve greater than 10 percent share of the prescription irritable bowel syndrome with constipation (IBS-C) market at peak.
- Company expects IBSRELA to generate more than $1.0 billion in annual U.S. net product sales revenue before patent term expiration.
- Company will continue to invest to support future realization of the full potential for IBSRELA, including the expansion of the IBSRELA sales team.
Historical Earnings Impact
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