Ardelyx Reports Second Quarter 2025 Financial Results and Provides Business Update

Core Insights - Ardelyx, Inc. reported strong commercial performance in Q2 2025, achieving total revenue of $97.7 million, which represents a 33% increase year-over-year and a 32% increase quarter-over-quarter [1][3][8] - The company raised its 2025 revenue expectations for IBSRELA to between $250 million and $260 million, reflecting confidence in the product's market performance [1][4][3] Financial Performance - IBSRELA generated net sales revenue of $65.0 million in Q2 2025, marking an 84% increase year-over-year and a 46% increase quarter-over-quarter [4][14] - XPHOZAH recorded net sales revenue of $25.0 million in Q2 2025, showing a 7% increase compared to Q1 2025, and a 27% increase when excluding a one-time returns reserve release [5][14] - Total cash, cash equivalents, and short-term investments as of June 30, 2025, were $238.5 million, down from $250.1 million at the end of 2024 [7][29] Expenses and Losses - Research and development expenses for Q2 2025 were $15.7 million, up from $12.8 million in Q2 2024 [9] - Selling, general, and administrative expenses increased to $84.0 million in Q2 2025 from $64.7 million in Q2 2024, primarily due to increased commercialization efforts [9] - The net loss for Q2 2025 was $19.1 million, or $(0.08) per share, compared to a net loss of $16.5 million, or $(0.07) per share, in Q2 2024 [10][29] Corporate Developments - In July 2025, the company amended its loan agreement, allowing it to draw an additional $100 million of debt, consisting of two tranches of $50 million [6] - The company appointed Mike Kelliher as Chief Business Officer and James P. Brady as Chief Human Resources Officer [6] - Ardelyx presented research findings at the 2025 Digestive Disease Week Conference, highlighting the correlation between the severity of IBS-C and financial hardship [6]