Ardelyx's Stellar Q4 Performance: A Beacon of Growth in Biopharma

Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company dedicated to discovering, developing, and commercializing innovative, first-in-class medicines, has reported impressive financial results for the fourth quarter and full year ended December 31, 2024. The company's strong commercial performance, particularly for its lead products IBSRELA and XPHOZAH, has positioned it as a beacon of growth in the biopharma industry.

IBSRELA, a treatment for irritable bowel syndrome with constipation (IBS-C), finished 2024 with $158.3 million in net product sales revenue, including $53.8 million in the fourth quarter. This represents approximately 32% growth compared to the third quarter of 2024. Ardelyx expects full-year 2025 U.S. net product sales revenue for IBSRELA to be between $240 and $250 million, reaffirming its expectation that IBSRELA can achieve greater than ten percent market share at peak and generate more than $1 billion in annual U.S. net product sales revenue before patent term expiration.

XPHOZAH, a treatment for hyperphosphatemia in adult patients with chronic kidney disease (CKD) on dialysis, recorded $160.9 million in net product sales revenue in its first full year of commercialization. This includes $57.2 million in net product sales revenue during the fourth quarter of 2024. At peak, Ardelyx currently expects XPHOZAH to achieve $750 million in annual U.S. net product sales revenue before patent term expiration.

Ardelyx's strong cash position of $250.1 million as of December 31, 2024, provides significant operational runway for the company to invest in its pipeline and pursue strategic acquisitions. The company's cash position has been strengthened by its commercial success, with total U.S. net product sales reaching approximately $319 million in 2024. IBSRELA and XPHOZAH contributed approximately $158 million and $161 million, respectively, to this total.



Ardelyx's strong commercial performance, robust cash position, and commitment to pipeline development and acquisitions position it well for long-term growth. The company's focus on growing IBSRELA, executing the XPHOZAH strategy, building a pipeline of important medicines, and delivering a strong financial performance aligns with its strategic priorities and long-term growth plans. As Ardelyx continues to execute on its strategic initiatives, investors can expect the company to maintain its momentum and create value for shareholders.

Action Alerts PLUS, which Cramer manages as a charitable trust, is long ARDX.