WALTHAM, Mass., May 21, 2024 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that data supporting additional positive clinical observations of IBSRELA® (tenapanor) was presented at the 2024 Digestive Disease Week Conference (DDW), currently taking place in Washington, D.C. IBSRELA is a first-in-class treatment that is appr ...

Group 1: Ardelyx (ARDX) - Ardelyx is a biopharmaceutical company with FDA-approved products, leading to significant revenue growth [2][3] - The company's primary product, Ibsrela, generated $28.4 million in net product sales in Q1 2024, driven by an expanding list of healthcare providers [2] - Ardelyx's second product, Xphozah, for chronic kidney disease, brought in $15.2 million in net product sales in the same quarter, with expectations for further growth from international approvals [3] Group 2: Sirius XM (SIRI) - Sirius XM is a satellite radio provider with a subscriber base of nearly 34 million, maintaining profitability for over 10 years [5][6] - Despite a recent dip in stock price, the company generated $2.16 million in revenue and $132 million in free cash flow in Q1 2024 [5] - Sirius XM projects approximately $8.75 billion in revenue for 2024, bolstered by its 360L platform and the Pandora streaming app, which contributes around 25% of Q1 revenue [6] Group 3: VAALCO Energy (EGY) - VAALCO Energy is an independent oil and gas producer with operations in multiple countries, benefiting from increased demand due to geopolitical events [7] - The company reported a net income of $7.7 million in Q1 2024, up from $3.4 million in Q1 2023, despite higher depreciation and operating expenses [7] - VAALCO Energy maintains a dividend yield of 4% and is expected to continue growth as production capacity increases, particularly with the resumption of operations in its Baobab oil field [8]

Core Insights - Ardelyx, Inc. presented positive clinical data for XPHOZAH® (tenapanor) at the NKF 2024 Spring Clinical Meetings, highlighting its potential impact on managing hyperphosphatemia in chronic kidney disease (CKD) patients on dialysis [1][3] Company Overview - Ardelyx is a biopharmaceutical company focused on developing innovative, first-in-class medicines to address significant unmet medical needs [1][14] - The company has two commercial products approved in the U.S., including IBSRELA® and XPHOZAH® [14] Product Information - XPHOZAH is the first and only phosphate absorption inhibitor approved by the FDA for reducing serum phosphorus in adults with CKD on dialysis [2][13] - It is administered as a single tablet taken twice daily and works by blocking phosphate absorption at the primary pathway [2][7] Clinical Data Highlights - A poster presentation indicated that adding tenapanor to sevelamer treatment improved phosphate control, as measured by average daily phosphate area under the curve (AUC) [3][4] - Another analysis showed that tenapanor's efficacy and safety were consistent across different age groups and comorbidities in dialysis patients [4] - A study on patient perception revealed that 80% of patients felt their phosphate management improved with tenapanor, leading to better adherence to therapy [5] Industry Context - Hyperphosphatemia is a prevalent condition among the 550,000 CKD patients on dialysis in the U.S., necessitating effective management strategies [9] - The KDIGO guidelines recommend lowering elevated phosphate levels to the normal range of 2.5-4.5 mg/dL [9]

WALTHAM, Mass., May 16, 2024 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that data supporting additional positive clinical observations of XPHOZAH® (tenapanor) was presented in a series of poster presentations at the National Kidney Foundation (NKF) 2024 Spring Clinical Meetings, now underway in Long Beach, California. ...

WALTHAM, Mass., May 07, 2024 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (NASDAQ:ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that additional data supporting IBSRELA® (tenapanor) will be presented at the 2024 Digestive Disease Week Conference (DDW), to be held May 18-21, 2024, in Washington, D.C. IBSRELA is approved by the U.S. Food and Drug Administration to treat irrita ...

Ardelyx, Inc. (NASDAQ:ARDX) Q1 2024 Earnings Conference Call May 2, 2024 4:30 PM ET Company Participants Caitlin Lowie - Vice President of Corporate Communications & Investor Relations Mike Raab - President & Chief Executive Officer Susan Rodriguez - Chief Commercial Officer Justin Renz - Chief Financial Officer & Chief Operations Officer Conference Call Participants Chris Raymond - Piper Sandler Yigal Nochomovitz - Citi Louise Chen - Cantor Fitzgerald Ryan Deschner - Raymond James Dennis Ding - Jefferies R ...

Product Launch and Approval - Tenapanor, branded as IBSRELA, was first sold in the U.S. in March 2022, and XPHOZAH was first sold in November 2023[123][129]. - XPHOZAH received FDA approval on October 17, 2023, to reduce serum phosphorus in adults with chronic kidney disease (CKD) on dialysis[128]. - In November 2023, XPHOZAH was granted orphan drug designation by the U.S. FDA for the treatment of pediatric hyperphosphatemia[131]. Market Strategy - IBSRELA's market strategy targets approximately 9,000 high-writing healthcare providers who account for about 50% of IBS-C prescriptions[126]. - XPHOZAH's market strategy focuses on approximately 8,000 nephrology healthcare providers who write about 80% of phosphate-lowering therapy prescriptions[129]. - The company has established commercial agreements with Kyowa Kirin in Japan, Fosun Pharma in China, and Knight in Canada for tenapanor[134][132]. Financial Performance - Total revenue for the three months ended March 31, 2024, was $46.0 million, a 305% increase from $11.4 million in the same period in 2023[156]. - Net product sales for IBSRELA reached $28.4 million in Q1 2024, up from $11.4 million in Q1 2023, while XPHOZAH contributed $15.2 million in its first sales[158]. - Cost of goods sold for the three months ended March 31, 2024, was $7.1 million, a 364% increase from $1.5 million in Q1 2023[162]. Expenses and Losses - Research and development expenses for Q1 2024 were $10.6 million, a 16% increase from $9.1 million in Q1 2023[165]. - Selling, general and administrative expenses surged to $53.0 million in Q1 2024, a 98% increase from $26.8 million in Q1 2023[165]. - The company expects to continue incurring operating losses as it invests in the commercialization of IBSRELA and XPHOZAH[124]. Cash Flow and Liquidity - Cash and cash equivalents increased by 68% to $36,147 thousand as of March 31, 2024, from $21,470 thousand at the end of 2023[175]. - Total liquid funds reached approximately $202.6 million, reflecting a 10% increase from $184,299 thousand at the end of 2023[175]. - Net cash used in operating activities decreased by 20% to $(35,722) thousand for the three months ended March 31, 2024, compared to $(44,795) thousand in 2023[187]. Debt and Interest - Interest expense surged by 129% to $(2,356) thousand, compared to $(1,028) thousand in 2023, primarily due to a higher variable interest rate and an increased loan balance[170]. - Borrowings under the 2022 Loan Agreement bear a floating interest rate of 7.95% plus a variable component, with a potential increase in interest expense of approximately $0.2 million for a hypothetical 100 basis points rise in the one-month CME Term SOFR[194]. Risk Factors - The company is subject to foreign currency risk, primarily from transactions in Swiss francs and euros, but does not use derivatives for speculative trading purposes[195]. - As of March 31, 2024, there were no open forward foreign currency exchange contracts[196]. Internal Controls and Legal Proceedings - The company has evaluated the effectiveness of its disclosure controls and procedures, concluding they were effective as of March 31, 2024[197]. - There were no changes in internal control over financial reporting that materially affected the company during the three months ended March 31, 2024[198]. - As of March 31, 2024, there were no pending legal proceedings expected to materially affect the company's financial condition[202].

Exhibit 99.1 Ardelyx Reports First Quarter 2024 Financial Results and Provides Business Update Company reports $45.6 million in Q1 product-related revenue, including $28.4 million in net product sales revenue for IBSRELA and $15.2 million in net product sales revenue for XPHOZAH Company ends Q1 with approximately $203 million in cash and investments Conference call scheduled for 4:30 PM Eastern Time WALTHAM, Mass., May 2, 2024 - Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a missio ...

Company reports $45.6 million in Q1 product-related revenue, including $28.4 million in net product sales revenue for IBSRELA and $15.2 million in net product sales revenue for XPHOZAH Company ends Q1 with approximately $203 million in cash and investments Conference call scheduled for 4:30 PM Eastern Time WALTHAM, Mass., May 02, 2024 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (NASDAQ:ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines ...

The stock market has performed remarkably well lately. Within the last 12 months, the S&P 500, a benchmark representation of the U.S. stock market comprised of the 500 largest publicly traded companies, has increased by 26%. To put that into perspective, the average return for the S&P 500 annually since its inception is approximately 10%. Thus, it has nearly tripled the average rate of return recently due to evident positive sentiment from investors. A reduction in inflation with rate cuts on the horizon, i ...