Ardelyx(US:ARDX)2025-05-01 20:03Revenue Performance - Ardelyx reported total revenue of $74.1 million for Q1 2025, reflecting a 61% year-over-year growth[2] - IBSRELA net product sales revenue reached $44.4 million in Q1 2025, showing a significant year-over-year growth of approximately 57%[5] - XPHOZAH net product sales revenue was $23.4 million in Q1 2025, with a 30% growth compared to the same period in 2024, excluding a $3.8 million release of prior periods' estimated product returns[6] - Total revenues for the three months ended March 31, 2025, were $74,114 million, a 61.1% increase from $46,023 million in the same period of 2024[27] - Total product sales, net, reached $67,814 million, up 55.8% from $43,512 million year-over-year[27] - Licensing revenue surged to $5,020 million, compared to just $17 million in the same quarter of 2024[27] Financial Position - The company ended Q1 2025 with $214.0 million in cash, cash equivalents, and investments, down from $250.1 million at the end of 2024[8] Sales Forecast - Ardelyx expects full-year 2025 U.S. net product sales revenue for IBSRELA to be between $240.0 million and $250.0 million[5] Expenses - Research and development expenses for Q1 2025 were $14.9 million, up from $10.6 million in Q1 2024, reflecting increased engagement with the scientific community[12] - Selling, general and administrative expenses rose to $83.2 million in Q1 2025, compared to $53.0 million in Q1 2024, primarily due to commercialization costs[12] - Research and development expenses increased to $14,938 million, a 41.1% rise compared to $10,579 million in the prior year[27] - Selling, general and administrative expenses rose significantly to $83,222 million, up 57.5% from $52,994 million in the previous year[27] - Total cost of goods sold was $12,303 million, up from $7,128 million, reflecting a 72.5% increase year-over-year[27] Net Loss - The net loss for Q1 2025 was $41.1 million, or $(0.17) per share, compared to a net loss of $26.5 million, or $(0.11) per share, in Q1 2024[12] - The net loss for the quarter was $41,144 million, compared to a net loss of $26,518 million in the same quarter of 2024[27] - Net loss per share of common stock was $0.17, compared to $0.11 in the prior year[27] - The company reported a loss from operations of $36,349 million, an increase from a loss of $24,678 million in the same period last year[27] Leadership Changes - Ardelyx appointed Merdad Parsey, M.D. Ph.D., to its Board of Directors and Laura A. Williams, M.D., M.P.H., as the first Chief Patient Officer in April 2025[8] Milestone Payment - The company received a $5.0 million milestone payment from Fosun Pharma following the approval of tenapanor in China for hyperphosphatemia[8]