Ardelyx Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update

Core Insights - Ardelyx, Inc. reported significant commercial progress in 2024, achieving total revenue of $333.6 million, with U.S. net product sales of$319.2 million [1][7] - The company reaffirms combined peak sales expectations for IBSRELA and XPHOZAH at $1.75 billion [1] - Ardelyx ended FY 2024 with a strong cash position of$250.1 million [1][7] Financial Performance - Total revenue for 2024 was $333.6 million, a substantial increase from$124.5 million in 2023, primarily driven by net product sales [7] - IBSRELA's U.S. net product sales revenue reached $158.3 million in 2024, up from$80.1 million in 2023 [4][7] - XPHOZAH generated $160.9 million in U.S. net product sales revenue in its first full year of commercialization, compared to$2.5 million in 2023 [5][7] - The company reported a net loss of $39.1 million for 2024, an improvement from a net loss of$66.1 million in 2023 [13][7] Product Sales and Market Expectations - IBSRELA is expected to achieve U.S. net product sales revenue between $240 million and$250 million in 2025, with a projected peak market share of over 10% [4] - XPHOZAH is anticipated to reach $750 million in annual U.S. net product sales revenue at peak [5] Corporate Developments - Ardelyx released its 2024 Environmental, Social and Governance (ESG) report, highlighting its commitment to sustainability [6] - The company is focused on growing IBSRELA, executing the XPHOZAH strategy, and building a pipeline of important medicines [3]