Ardelyx reported its third quarter 2024 financial results on October 31, 2024, demonstrating strong commercial performance for its key products. IBSRELA generated $40.6 million in net product sales revenue, marking approximately 15% quarter-over-quarter growth and significant year-over-year growth from $22.3 million in Q3 2023.
The company also reported $51.5 million in net product sales revenue for XPHOZAH during Q3 2024, representing approximately 39% quarter-over-quarter growth. Total revenue for the quarter was $98.2 million, with a net loss of $0.809 million, or less than $0.01 per share, which beat analyst consensus.
Ardelyx raised its full-year 2024 U.S. net product sales revenue guidance for IBSRELA to between $145.0 million and $150.0 million. The company ended the quarter with approximately $190 million in cash, cash equivalents, and investments, despite anticipated changes to XPHOZAH's Medicare Part D reimbursement in early 2025.
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