Ardelyx Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update

Core Insights - Ardelyx, Inc. reported a significant revenue growth of 73% for IBSRELA in 2025, reaching $274.2 million, contributing to total revenues of $407.3 million for the year [1][3][10] - The company is focused on expanding its product offerings and has launched development programs for new indications and next-generation therapies [1][7][8] - Ardelyx anticipates continued growth in 2026, with projected IBSRELA revenues between $410 million and $430 million, indicating at least 50% growth compared to 2025 [4][6] Financial Performance - Total revenue for 2025 was $407.3 million, up from $333.6 million in 2024, driven primarily by IBSRELA's performance [10][14] - IBSRELA revenue for 2025 was $274.2 million, a 73% increase from $158.3 million in 2024, while XPHOZAH revenue was $103.6 million, down from $160.9 million in 2024 [3][14] - The company reported a net loss of $61.6 million for 2025, compared to a net loss of $39.1 million in 2024, with significant expenses related to commercialization and R&D [10][14][28] Product Development and Pipeline - Ardelyx is advancing its pipeline, including a Phase 3 trial for IBSRELA in chronic idiopathic constipation (CIC), with enrollment expected to complete by the end of 2026 [7][8] - The company has initiated a development program for RDX10531, a next-generation NHE3 inhibitor, with plans for an Investigational New Drug submission in the second half of 2026 [8][24] - The long-term strategy focuses on delivering novel therapies to patients with unmet medical needs and generating sustained shareholder value [2][22] Market Outlook - Ardelyx expects IBSRELA to achieve $1 billion in annual revenue by 2029, supported by increased prescribing depth and patient engagement [4][6] - The company aims to enhance its market presence through strategic initiatives and broaden its portfolio of innovative medicines [2][4]