Ardelyx reports Q2 EPS (7c), consensus (11c)

Reports Q2 revenue $73.2M, consensus $55.02M.”In the second quarter, Ardelyx demonstrated our commitment to our mission and to ensuring that patients remain at the forefront of all of our efforts. We continued to drive expanded awareness and use of our two first-in-class medicines that represent new therapeutic options for patients who continue to have significant unmet medical needs. In addition, importantly, we are standing with the entire kidney community and fighting for patients whose health is at risk,” said Mike Raab, president and chief executive officer of Ardelyx. Raab continued, “IBSRELA’s strong performance continued with consistent quarter-over-quarter gains. This performance further strengthens our conviction that IBSRELA is on track to achieve at least ten percent market share and $1 billion in annual sales before patent expiry. IBSRELA is providing meaningful clinical benefits to patients at a time when the need among IBS-C patients to address their symptoms remains significant. We believe IBSRELA is well placed to address this unmet need and we continue to invest, including the ongoing expansion of our sales team to further our growth trajectory. XPHOZAH’s remarkable performance continued, a clear indicator of the need for a novel therapy, like XPHOZAH, to help patients achieve target phosphorus levels. This is why it is so important that we take steps to protect patients against the dire consequences of the access restrictions that will occur if CMS moves oral-only phosphate lowering therapies into the End-Stage Renal Disease Prospective Payment System.”