Ardelyx Q2 total revenue $73.2M, driven by IBSRELA $35.4M and XPHOZAH $37.1M

ARDELYX, INC.

2024-Q2 EPS reported -$0.18 revenue$119,245,000

IBSRELA Q2 net sales $35.4M, up ~25% QoQ; XPHOZAH Q2 net sales $37.1M, up from $15.2M in Q1 2024.
Total revenue $73.2M vs $22.3M YoY; net loss narrowed to $16.5M ($0.07/sh) from $17.1M ($0.08/sh) YoY.
FY 2024 IBSRELA revenue guidance unchanged at $140-150M; cash and investments $186M at quarter end.
Filed lawsuit against CMS over ESRD PPS rule threatening XPHOZAH access; declined TDAPA application.
SG&A expenses doubled to $64.7M primarily due to ongoing commercialization of both products.

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