Business
Ardelyx Reports First Quarter 2023 Financial Results and Provides Business Update
Continued successful launch of IBSRELA, with Q1 net product sales of $11.4 million XPHOZAH New Drug Application resubmitted on April 17, 2023 Company ends Q1
About this update from Ardelyx, Inc.
[{"type":"text","content":"Continued successful launch of IBSRELA, with Q1 net product sales of $11.4 million XPHOZAH New Drug Application resubmitted on April 17, 2023 Company ends Q1 with over $130 million in cash and investments Conference call scheduled for 4:30 PM Eastern Time WALTHAM, Mass., May 03, 2023 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today reported financial results for the first quarter ended March 31, 2023 and provided a business update. “During the first quarter of 2023, we demonstrated progress towards achieving our goals for 2023. At one-year post-launch, IBSRELA is being recognized as an important medicine for IBS-C and is delivering meaningful benefits to patients. We are consistently gaining market share with our innovative commercial strategy. At the same time, during the first quarter, we continued to advance XPHOZAH to approval and launch and pursued business development opportunities that would bring our novel mechanism technologies to patients and strengthen our cash position,” said Mike Raab, president and chief executive officer of Ardelyx. “As we look towards the remainder of the year, we will continue to focus on achieving our near-term milestones, including driving IBSRELA adoption, preparing to launch XPHOZAH in the second half of this year pending FDA approval, and building on our strategy for the next phase of the company’s growth.” IBSRELA® (tenapanor) Update: Growth continues with $11.4 million in net product sales in Q1 2023In March 2023, Ardelyx completed one full year of IBSRELA sales following the U.S. launch in 2022 for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults. IBSRELA continues to gain market share as a result of the company executing on its innovative launch strategy focused on high-writing physicians and the patients who experience persistent symptoms, despite treatment with a prescription therapy for IBS-C. The company continues to see increased new and refill prescriptions as well as persistent growth in new and repeat writing healthcare providers. XPHOZAH® (tenapanor) Update: New Drug Application (NDA) resubmitted On April 17, 2023, Ardelyx resubmitted the NDA for XPHOZAH for the control of se...