Business
Ardelyx Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update
Continued successful launch of IBSRELA, ending FY 2022 with $15.6 million in net product sales Resubmission of XPHOZAH New Drug Application expected in early
About this update from Ardelyx, Inc.
[{"type":"text","content":"Continued successful launch of IBSRELA, ending FY 2022 with $15.6 million in net product sales Resubmission of XPHOZAH New Drug Application expected in early Q2 2023 Company ends Q4 with approximately $123.9 million in cash and investments Conference call scheduled for 4:30 PM Eastern Time WALTHAM, Mass., March 02, 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 fourth quarter and full year ended December 31, 2022 and provided a business update. “2022 was a remarkable year for Ardelyx, having met significant milestones that demonstrate our deep and profound commitment to bringing our novel mechanism products to patients in need. In April, we began the process of launching our first therapy, IBSRELA, for adult patients with irritable bowel syndrome with constipation and we are demonstrating significant, quarter-over-quarter prescription growth. In addition, after the positive outcome of our appeal process for XPHOZAH, and a productive Type A meeting with the Food and Drug Administration in February 2023, we believe we are now on the path to launching another important medicine in the second half of the year for patients on dialysis,” said Mike Raab, president and chief executive officer of Ardelyx. “Our efforts, our commitment to patients and our tenacity have positioned us well in 2023 as we continue to build growth and momentum for IBSRELA, execute on our plans for a successful launch of XPHOZAH, if approved, and create opportunities to expand our business to support the next phase of the company’s growth. As evidenced by our continued success with IBSRELA, we are well on our way to realizing our mission to discover, develop and commercialize novel mechanism products for patients with unmet medical needs. We are pleased with our progress and excited about the opportunity to reach even more patients in the future.” Recent Business Highlights IBSRELA® (tenapanor) finishes 2022 with $15.6 million in net product sales, $8.7 million in Q4 2022In March 2022, Ardelyx launched IBSRELA (tenapanor) for the treatment of irritable bowel syndrome with constipation (IBS-C) in the United States. The targeted commercial launch is...