Ardelyx Stock Price, News & Analysis

Ardelyx, a biopharmaceutical company, announced additional positive clinical data for IBSRELA® (tenapanor) at the 2024 Digestive Disease Week Conference in Washington, D.C. IBSRELA, approved by the FDA for treating irritable bowel syndrome with constipation (IBS-C) in adults, demonstrated a clinically meaningful response in a Phase 3 post hoc analysis. The treatment proved effective regardless of prior use of other IBS-C medications and showed comparable or more pronounced efficacy in Hispanic patients. These findings further support IBSRELA's potential as a novel treatment option for IBS-C.

Ardelyx (Nasdaq: ARDX) presented new data on XPHOZAH® (tenapanor) at the NKF 2024 Spring Clinical Meetings. The drug, approved by the FDA, helps reduce serum phosphorus in CKD patients on dialysis. Presented posters showed improved phosphate control when tenapanor was added to existing treatments, effective results across various age groups, and increased patient adherence due to improved treatment perception. These findings, highlighting XPHOZAH's unique mechanism of action, were shared during an Exhibitor Showcase discussing hyperphosphatemia management.

Ardelyx, a biopharmaceutical company, announced on May 6, 2024, the granting of stock options and Restricted Stock Units (RSUs) to new non-executive employees. The compensation committee approved options for 26 employees, totaling 511,500 shares, and RSUs for 32 employees, totaling 425,050 shares. The stock options have an exercise price of $9.15 per share, the closing price on the grant date, and vest over four years. RSUs also vest over four years, with specific quarterly vesting schedules. These inducements align with Nasdaq Listing Rule 5635(c)(4) and are part of Ardelyx's 2016 Employment Commencement Incentive Plan.

Ardelyx, Inc. (Nasdaq: ARDX) will present additional data supporting IBSRELA® (tenapanor) for adults with irritable bowel syndrome with constipation at the 2024 Digestive Disease Week Conference. IBSRELA is approved by the FDA to treat IBS-C in adults. The presentation will include posthoc analysis from Phase 3 studies and a Product Theater discussing clinical considerations for managing IBS-C.

Ardelyx, Inc. (Nasdaq: ARDX) reported $45.6 million in Q1 product-related revenue, with $28.4 million from IBSRELA and $15.2 million from XPHOZAH. The company ended Q1 with around $203 million in cash and investments. Ardelyx saw significant growth in net product sales revenue for both IBSRELA and XPHOZAH, with plans to expand market position. The company appointed Mike Kelliher as EVP, Corporate Development and Strategy. Total revenue for Q1 2024 was $46.0 million, up from $11.4 million in Q1 2023. Net loss for Q1 2024 was $26.5 million.

Ardelyx, Inc. will present additional data on XPHOZAH® (tenapanor) at the NKF 2024 Spring Clinical Meetings. XPHOZAH, a phosphate absorption inhibitor, is approved for CKD patients on dialysis. The drug offers a unique mechanism of action and will be discussed in various presentations during the event.