Welcome to our dedicated page for Ardelyx SEC filings (Ticker: ARDX), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Parsing a biotech filing packed with pharmacology data can feel like decoding another language, and Ardelyx’s reports are no exception. Each Ardelyx annual report 10-K simplified on Stock Titan lays out pivotal details—cash runway, Phase 3 results for tenapanor, and royalty streams from overseas partners—that investors must grasp before the next catalyst hits. Our platform turns those dense pages into plain-English answers, giving you Ardelyx SEC filings explained simply without hours of scrolling.
Need specific numbers fast? Open any Ardelyx quarterly earnings report 10-Q filing and our AI instantly flags enrollment costs, FDA meeting minutes, and revenue from IBS-C sales. Toggle to Ardelyx insider trading Form 4 transactions or set alerts for Ardelyx Form 4 insider transactions real-time to spot executive stock moves before markets react. Curious about sudden news? The moment management files an Ardelyx 8-K material events explained notice—whether a trial read-out or partnership amendment—you’ll see a concise summary plus contextual ratios that matter.
Researchers, portfolio managers, and retail traders rely on different forms for different insights. The proxy statement section answers questions like “Ardelyx proxy statement executive compensation” by detailing option grants and pay mixes. “Understanding Ardelyx SEC documents with AI” also means seeing drug milestone obligations right beside balance-sheet impacts. From tracking Ardelyx executive stock transactions Form 4 to diving into an Ardelyx earnings report filing analysis, every disclosure updates in real time, complete with expert commentary so you can act on data instead of digging for it.
Ardelyx (ARDX) Q2-25 10-Q highlights
Total revenue rose 33% YoY to $97.7 m, driven by 84% growth in IBSRELA sales to $65.0 m. XPHOZAH sales fell 33% to $25.0 m after Medicare moved the drug into the ESRD PPS bundle on 1 Jan 25. Six-month revenue reached $171.8 m (+44%).
Gross margin remained high; cost of goods sold was $12.4 m (12.7% of revenue). Operating expenses climbed 29% to $99.7 m as SG&A spending supporting commercial expansion hit $84.0 m; R&D was $15.7 m. Net loss widened to $19.1 m (-$0.08/sh) versus -$16.5 m (-$0.07/sh) a year earlier; six-month loss totalled $60.2 m.
Balance sheet: cash, equivalents and short-term investments stand at $238.5 m. On 30 Jun 25 Ardelyx drew a new $50 m Term E loan, lifting total debt to $201.4 m; another $100 m is available through 2026. Interest-only payments run to Jul-28, but the blended rate on existing tranches is SOFR + 4–8% plus fees.
Other items: a $5 m milestone from Fosun (China NDA approval) booked in Q1. Non-cash royalty revenue from Kyowa Kirin (Japan) was $1.4 m. The $75 m AstraZeneca termination royalty is now fully amortized. Litigation over CMS bundling of XPHOZAH continues; oral arguments are scheduled for Sep-25.
Liquidity runway is solid, but profitability depends on sustaining IBSRELA momentum and offsetting XPHOZAH reimbursement headwinds.
Ardelyx, Inc. (ARDX) has amended its February 2022 Loan & Security Agreement for the fifth time, securing an immediate $50 million senior secured term loan ("Term E") and gaining access to an additional $100 million of committed capital in two optional $50 million tranches ("Term F" and "Term G").
Key economics include: (1) Term E pricing at 4.00% plus 0.022% plus 1-month SOFR, with a SOFR floor of 4.70%; (2) optional Term F/G pricing at SOFR + 4.95%, floored at 3.50%; (3) interest-only payments until maturity—July 1, 2028 for Term E and July 1, 2030 for Term F/G. The company paid a $250k draw fee for Term E and a $1.0 million facility fee for the incremental loans.
The facility remains collateralized and carries back-end fees of 4.95% (Term E) and 3.45% (Term F/G) of principal, payable upon maturity, acceleration, or prepayment. No changes were disclosed to covenants or security packages.
Investment view: The amendment immediately bolsters liquidity and provides flexible growth or runway capital through 2026, but materially increases secured debt capacity and locks in high floating-rate interest costs. Investors should weigh the near-term cash benefit against potential future leverage and interest-expense drag.
Millennium Management LLC, along with affiliated entities, has reported acquiring a significant stake in Ardelyx. According to the Schedule 13G filing dated June 28, 2025, the reporting persons collectively own 12,099,947 shares, representing a 5.1% ownership in the company.
The reporting persons include:
- Millennium Management LLC (Delaware)
- Millennium Group Management LLC (Delaware)
- Israel A. Englander (United States)
All three parties share voting and dispositive power over the reported shares, with no sole voting or dispositive power. The securities were not acquired for the purpose of changing or influencing control of Ardelyx. The shares are held by entities subject to voting control and investment discretion by Millennium Management LLC and/or other investment managers controlled by Millennium Group Management LLC and Mr. Englander.
Ardelyx, Inc. (ARDX) – Form 4 insider transaction filed 06/23/2025
Board member Richard J. Rodgers reported routine, compensation-related equity grants dated 06/18/2025 under Ardelyx’s Non-Employee Director Compensation Program:
- 21,468 common shares issued in lieu of cash fees, increasing his direct holdings to 371,992 shares.
- 41,551 restricted stock units (RSUs); each RSU converts 1-for-1 to common stock as it vests, bringing total directly held shares to 413,543 on a fully delivered basis.
- 54,059 stock options with a $3.61 exercise price, 10-year term (expiring 06/18/2035). Vesting is 1/12 monthly with full acceleration at the next annual meeting if service continues.
No sales were reported and all awards were granted at $0 cost to the director. Transactions reflect standard annual director compensation and represent a small, immaterial dilution to existing shareholders.
On 18 June 2025, Ardelyx, Inc. (ARDX) filed a Form 4 disclosing that director Merdad Parsey received 15,235 shares of the company’s common stock. The shares were issued at a price of $0 under the company’s Non-Employee Director Compensation Program, reflecting the director’s election to take equity instead of cash fees. Following the transaction, Parsey’s direct beneficial ownership stands at 57,291 shares. No sales, dispositions, or derivative security activities were reported, and the filing contains no additional financial metrics.
Director David M. Mott of Ardelyx reported multiple equity transactions on June 18, 2025:
- Acquired 31,163 shares of common stock at $0 through the Non-Employee Director Compensation Program (elected stock instead of cash)
- Received 41,551 Restricted Stock Units (RSUs) under the same program
- Granted stock options to purchase 54,059 shares at $3.61 per share, expiring June 18, 2035
Following these transactions, Mott directly owns 2,969,585 shares, including 87,566 shares held for entities associated with New Enterprise Associates. The stock options vest monthly at 1/12th of shares, with full acceleration at the next annual stockholder meeting. The RSUs convert 1:1 to common stock upon vesting.
Ardelyx Director Onaiza Cadoret-Manier received new equity compensation grants on June 18, 2025, as part of the company's Non-Employee Director Compensation Program. The transactions include:
- 41,551 Restricted Stock Units (RSUs) acquired at $0, bringing total direct ownership to 151,701 shares
- 54,059 Stock Options granted with an exercise price of $3.61, expiring June 18, 2035
The stock options vest monthly at 1/12th of shares, with accelerated vesting at the next annual stockholder meeting for any unvested portions. The RSUs convert to common stock on a 1:1 basis upon vesting. These grants represent standard non-employee director compensation rather than open market transactions, indicating continued board service commitment.
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