Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $3.1852W HIGH $8.40
Volume
531.91 K
Value Traded
42.93 M
Short % Float
10.69%
-2.99%Week
-14.74%1 Month
-38.64%3 Month
-47.57%6 Month
-11.83%5 Year
-57.86%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
807.37 M
EPS (TTM)
-0.22
P/E Ratio
-
Ent. Value
781.10 M
Total Shares
249.14 M
Float Shares
239.44 M
Insiders
3.91%
Institutions
71.91%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
PoA blends historical approval base rates, trial design score and FDA review track record.
ARDX Catalyst Timeline
Dated clinical, regulatory and corporate events for Ardelyx, Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Ardelyx, Inc.
361Total events
9Upcoming
74Tier-1 (high impact)
2016 to 2027Coverage
Upcoming catalysts 2
Event history 50
◆Oral PresentationXPHOZAHApprovedPresentation
Peer Exchange session on Treating Hyperphosphatemia and Side Effect Management
hyperphosphatemia in chronic kidney disease on dialysissource ↗
▲Poster PresentationXPHOZAHApprovedPresentation
Post hoc analysis of NORMALIZE and OPTIMIZE trials on long-term safety of XPHOZAH presented at NKF Spring Clinical Meetings
hyperphosphatemia in chronic kidney disease on dialysissource ↗
●Poster PresentationTenapanorApprovedPresentation
Poster presentations at NKF Spring Clinical Meeting 2026
◆Oral PresentationIBSRELAApprovedPresentation
Product Theater on IBS-C management at DDW 2026
irritable bowel syndrome with constipation (IBS-C)source ↗
◆Poster PresentationIBSRELAApprovedPresentation
Poster presentation on IBS-C treatment patterns at DDW 2026
irritable bowel syndrome with constipation (IBS-C)source ↗
●Poster PresentationTenapanorApprovedPresentation
Poster presentations at Digestive Disease Week 2026
●Management ChangeCorporate
Appointment of Rajani Dinavahi as CMO and Felecia Ettenberg as CLO
◆Oral PresentationPresentation
Ardelyx 1x1 meetings at Jefferies 2026 Biotech on the Beach Summit
◆Oral PresentationPresentation
Ardelyx presentation at Leerink Partners 2026 Global Healthcare Conference
▲PublicationTenapanorApprovedPresentation
Publication of post-hoc analysis in Therapeutic Advances in Gastroenterology
irritable bowel syndrome with constipation (IBS-C)source ↗
◆Quarterly UpdateCorporate
Full Year and Fourth Quarter 2025 Financial Results Conference Call
▲Patent GrantedTenapanorApprovedIP / Competition
U.S. Patent No. 12,539,299 granted for tenapanor oral formulations
▲Patent GrantedTenapanorApprovedIP / Competition
USPTO issued U.S. Patent No. 12,539,299 titled 'Oral Formulations of Tenapanor'
▲First Patient DosedIBSRELAApprovedTrial
First patient dosed in Phase 3 ACCEL trial of IBSRELA for CIC
chronic idiopathic constipationsource ↗
▲First Patient DosedIBSRELAApprovedTrial
First patient dosed in ACCEL Phase 3 trial for CIC
chronic idiopathic constipation (CIC)source ↗
▲First Patient DosedTenapanorApprovedTrial
First patient dosed in Phase 3 ACCEL trial of tenapanor for CIC
chronic idiopathic constipationsource ↗
▲Quarterly UpdateIBSRELAApprovedCorporate
Full year 2025 IBSRELA net product sales revenue guidance of $240-250 million
Irritable Bowel Syndrome with Constipation (IBS-C)source ↗
◆Oral PresentationPresentation
Ardelyx management to participate in fireside chat at Jefferies Global Healthcare Conference in London
◆Oral PresentationPresentation
CEO Mike Raab participates in fireside chat at Wedbush Rewind ASN 2025 Conference
▲Poster PresentationXPHOZAHApprovedPresentation
Tenapanor improves bowel movements in ESKD patients with constipation: post-hoc analysis of BLOCK study (Poster TH-PO0223)
end-stage kidney disease with constipationsource ↗
●Poster PresentationPresentation
Etelcalcetide utilization and parathyroidectomy rates following calcimimetic incorporation into ESKD bundle (Poster FR-PO0254)
end-stage kidney diseasesource ↗
▲Poster PresentationTenapanorApprovedPresentation
Cost-effectiveness analysis of tenapanor in Japanese hemodialysis patients (Poster FR-PO0255)
hyperphosphatemia on hemodialysissource ↗
◆Oral PresentationXPHOZAHApprovedPresentation
Expanding Perspectives in Hyperphosphatemia Treatment; A Different Approach
hyperphosphatemia in chronic kidney disease on dialysissource ↗
◆Poster PresentationXPHOZAHApprovedPresentation
Real-World Effectiveness of Tenapanor (XPHOZAH) for Treatment of Hyperphosphatemia in US Patients on Dialysis
hyperphosphatemia in chronic kidney disease on dialysissource ↗
▲Poster PresentationIBSRELAApprovedPresentation
Poster #P0809: Tenapanor Improves Abdominal Bloating Symptoms in Patients With IBS-C Experiencing Moderate to Severe Bloating (post-hoc analysis of T3MPO-1 and T3MPO-2)
irritable bowel syndrome with constipationsource ↗
◆Oral PresentationPresentation
H.C. Wainwright 27th Annual Global Investment Conference Presentation
◆Oral PresentationPresentation
Morgan Stanley 23rd Annual Global Healthcare Conference Fireside Chat
▲Quarterly UpdateIBSRELAApprovedCorporate
2025 IBSRELA net sales revenue guidance raised to $250-$260 million
Irritable Bowel Syndrome with Constipation (IBS-C)source ↗
▲Development Candidate NominationRDX10531Preclinical
Development of next-generation NHE3 inhibitor RDX10531 began in Q3 2025
multiple therapeutic areas (NHE3 inhibitor)source ↗
▲Debt Royalty FinancingCorporate
Amended SLR loan agreement; drew $50M tranche; option for additional $100M
▲Quarterly UpdateXPHOZAHApprovedCorporate
XPHOZAH Q2 2025 net sales $25.0M
Hyperphosphatemia in CKD on dialysissource ↗
◆Oral PresentationPresentation
Ardelyx participation at Jefferies Global Healthcare Conference 2025
●Poster PresentationIBSRELAApprovedPresentation
Poster #Mo1257: Patient-Reported IBS-C Symptom Severity Correlates Positively With Financial Burden: Results From the IBS in America 2024 Real-World Survey
irritable bowel syndrome with constipationsource ↗
▲Poster PresentationTenapanorApprovedPresentation
Poster #Sa1643: Safety and Tolerability of Tenapanor in Pediatric Patients With IBS-C: Blinded Safety Data from Phase 3 Study and Open-Label Extension
irritable bowel syndrome with constipationsource ↗
Past FDA Catalysts and PDUFA Decisions
How ARDX actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2024-10-25 | XPHOZAH® (tenapanor) | Phase 3 data presentation | Phase 3 |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
C42 / 100
Pipeline Score
$152M
Pipeline Value
$1.0B
Commercial Value
Fair Value
Valuation Signal
2
Drugs Scored
0.6x
rNPV / MCap
Top 33%
Micro Cap(rank 218 of 658)
Percentile Rank
Ardelyx, Inc. carries a moderate pipeline score (42/100), with $380M risk-adjusted pipeline value, led by Tenapanor in Synucleinopathy (Phase 2).
Commercial products (revenue basis: trailing 4 quarters of total revenue (10-K and 10-Q), to Jun 2026; product lines: last four quarters to Jun 2026 (10-K and 10-Q)) Revenue $450.9M x 2.3 = $1.0B
| Product | Revenue | Prior period | Change |
|---|---|---|---|
| IBSRELA | $321M | $204M | +57.4% |
| XPHOZAH | $110M | $157M | -29.7% |
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tenapanor Small moleculeNCT07382167 | Chronic Idiopathic Constipation (CIC) | Phase 3 | RECRUITING | 692 | Jun 4, 2027 |
Clinical Trial Results
Readouts, endpoints and source filings for every ARDX program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| XPHOZAH PriorityOrphan | chronic kidney disease with hyperphosphatemia on dialysis | 2026-05-07 | no clinically meaningful changes in measured serum electrolyte concentrations, other than phosphate reductionRead More | Ardelyx Presents Analysis Supporting Long-Term Safety of XPHOZAH at NKF’s Spring Clinical MeetingsRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Hohenleitner SusanOfficer (Chief Financial Officer) | Sell | -1,558 227,520 held | $3.86 | 08/21/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in ARDX
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| Redmile Group, LLC | 0.2 % (-33.3 %) | 3.27 M | 641.75 K | -12.49% ( -91.60 K) |
ARDX Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-10-16 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How ARDX ranks across every disease it competes in
Competitive Position is a premium feature
See how ARDX ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialARDX News
ARDXArdelyx to Present New Data on Hyperphosphatemia Management at ASN Kidney Week 2026
Ardelyx, Inc. announced the presentation of three abstracts at ASN Kidney Week 2026, focusing on hyperphosphatemia management. The research includes real-world effectiveness of tenapanor, patient perspectives, and morbidity risks associated with hyperphosphatemia. Additionally, an Exhibitor Spotlight session will feature insights on XPHOZAH, a phosphate absorption inhibitor for CKD patients on dialysis.
Read more →ARDXArdelyx Earns Multiple Honors at the 2026 PM360 Trailblazer Awards
Ardelyx, Inc. announced its recognition at the 2026 PM360 Trailblazer Awards, where it received multiple honors including Life Sciences Manufacturer CEO of the Year for Mike Raab. The company was also acknowledged for its podcast 'Gut Matters' and the IBSRELA Marketing Team. These awards highlight Ardelyx's commitment to innovation and patient engagement.
Read more →ARDXArdelyx to Participate in Upcoming Investor Conferences
Ardelyx Inc. has announced its participation in several upcoming investor conferences in September 2026. The conferences include Citi's Biopharma Back to School Conference, Cantor Global Healthcare Conference, and Morgan Stanley's Global Healthcare Conference, all taking place in New York. The company will provide live webcasts of the fireside chats and has a strong product pipeline.
Read more →ARDX▼ -17.9%on this news
Ardelyx Reports Second Quarter 2026 Financial Results and Provides Business Update
Ardelyx reported a strong financial performance for Q2 2026, with total product revenue reaching $118.1 million, marking a 31% increase compared to the previous year. The revenue from IBSRELA grew by 33% to $86.2 million, while XPHOZAH also saw a 27% increase to $31.9 million. The company maintains a robust cash position of $281.8 million.
Read more →ARDXArdelyx to Report Second Quarter 2026 Financial Results on August 6, 2026
Ardelyx, Inc. announced a conference call scheduled for August 6, 2026, to discuss its second quarter financial results and provide a business update. The event will be accessible via a live webcast and will include an archived replay. Ardelyx is known for its focus on innovative medicines and has two approved products in the U.S.
Read more →ARDXArdelyx to Participate at the Jefferies Global Healthcare Conference 2026
Ardelyx Inc. announced its participation in the Jefferies Global Healthcare Conference 2026, scheduled for June 3 at 9:55 a.m. ET in New York. The company will engage in a fireside chat, which will be accessible via a live webcast. Ardelyx is known for its innovative medicines and has two approved products in the U.S.
Read more →ARDXArdelyx Presents Analysis Supporting Long-Term Safety of XPHOZAH at NKF’s Spring Clinical Meetings
Ardelyx presented a data analysis at the NKF Spring Clinical Meetings, showcasing the long-term safety of XPHOZAH (tenapanor) for managing serum phosphorus in chronic kidney disease patients on dialysis. The analysis indicated no clinically meaningful changes in serum electrolytes, reinforcing the drug's effectiveness. A peer exchange session will further discuss XPHOZAH's mechanism and safety data.
Read more →ARDX▲ +5.3%on this news· ran to +19% by day 3
Ardelyx Reports First Quarter 2026 Financial Results and Provides Business Update
Ardelyx Inc. reported its financial results for Q1 2026, highlighting a significant increase in total product revenue and continued robust growth for IBSRELA. The company's revenue for IBSRELA amounted to $70.1 million, driven by increased prescription demand. Despite a strong financial position, Ardelyx reported a net loss of $37.6 million during the quarter. The company is focused on advancing its pipeline, including ongoing clinical trials for IBSRELA and the development of the next-generation NHE3 inhibitor, RDX10531.
Read more →ARDXArdelyx Announces Abstract Accepted for Poster Presentation at the NKF’s Spring Clinical Meetings
Ardelyx, Inc. announced that an abstract detailing the long-term effects of XPHOZAH on serum electrolytes will be presented at the NKF Spring Clinical Meetings in May 2026. XPHOZAH is the first phosphate absorption inhibitor approved for adults with chronic kidney disease on dialysis. The company will also sponsor a peer exchange discussing XPHOZAH's efficacy and safety.
Read more →ARDXArdelyx Announces Abstract Exploring IBS-C Treatment Patterns Accepted for Poster Presentation at Digestive Disease Week 2026
Ardelyx, Inc. announced that an abstract exploring treatment patterns for irritable bowel syndrome with constipation (IBS-C) has been accepted for a poster presentation at the Digestive Disease Week Conference 2026. The company will also sponsor a Product Theater discussing IBS-C management strategies. IBSRELA, Ardelyx's treatment for IBS-C, has shown promise in improving symptoms.
Read more →ARDXArdelyx Appoints Biopharmaceutical Veteran, Felecia W. Ettenberg, as Chief Legal Officer
Ardelyx, Inc. has appointed Felecia W. Ettenberg as Chief Legal Officer, succeeding Elizabeth Grammer. Ettenberg brings over 25 years of legal experience in the biopharmaceutical sector, including a significant tenure at Bristol Myers Squibb. The company aims to leverage her expertise to enhance its legal, compliance, and regulatory operations while continuing to focus on patient needs.
Read more →ARDXArdelyx to Report First Quarter 2026 Financial Results on April 30, 2026
Ardelyx, Inc. announced a conference call for April 30, 2026, to discuss its first quarter financial results and provide a business update. The event will be accessible via a live webcast on the company's website. Ardelyx is known for its innovative medicines, including two approved products and ongoing Phase 3 development.
Read more →ARDXRajani Dinavahi, MD, Appointed Chief Medical Officer of Ardelyx
Ardelyx, Inc. has appointed Dr. Rajani Dinavahi as Chief Medical Officer. With over 20 years of experience in various therapeutic areas, she aims to strengthen the company's pipeline and enhance its medical capabilities. Dr. Dinavahi expressed enthusiasm about joining Ardelyx during a pivotal time for the company.
Read more →ARDX▼ -5.5%on this news
Ardelyx Announces Recipients of the 2026 Derek Forfang Patient Advocate Award
Ardelyx, Inc. announced the recipients of the 2026 Derek Forfang Patient Advocate Award, honoring individuals who have significantly contributed to advocating for kidney disease patients. Established in 2025, the award commemorates Derek Forfang, a dedicated advocate who passed away due to chronic kidney disease. The recipients include notable figures like Edward Drake II and Markesha Grayson, each recognized for their impactful work in educating and supporting communities. The award presentation will take place at the National Kidney Foundation's Spring Clinical Meetings in New Orleans.
Read more →ARDXArdelyx Announces Publication of a Review Article Demonstrating Rapid and Meaningful Symptom Relief with Tenapanor in IBS-C
Ardelyx, Inc. announced the publication of a new review article in Therapeutic Advances in Gastroenterology detailing the efficacy of tenapanor, branded as IBSRELA, in providing rapid and sustained relief for adults with irritable bowel syndrome with constipation (IBS-C). The post-hoc analysis of pooled data from three clinical trials indicates that patients can expect noticeable improvements in bowel movement frequency within two weeks, with abdominal symptoms improving significantly within 4-5 weeks. The findings emphasize the importance of continuing therapy for optimal symptom management and offer valuable insights for healthcare providers to better advise patients about treatment expectations.
Read more →ARDX▲ +14.1%on this news
Ardelyx and the LPGA Announce Multi-Year Partnership to Break Stigma Around Digestive Health Issues Impacting Millions
Ardelyx has partnered with the LPGA to promote awareness and education around digestive health issues, particularly irritable bowel syndrome with constipation (IBS-C). This multi-year collaboration aims to empower women to discuss their health openly and take proactive steps. The partnership will leverage LPGA's platform to reach a wider audience and encourage informed health decisions.
Read more →ARDXArdelyx Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
Ardelyx, Inc. reported financial results for 2025, showcasing a significant 73% increase in IBSRELA revenue, reaching $274.2 million. The company anticipates continued growth due to their innovative products and strategies aimed at increasing prescribing depth among healthcare providers. Ardelyx's total revenue for the year was $407.3 million, with XPHOZAH also contributing positively to their revenues. Despite a reported net loss of $61.6 million, Ardelyx is positioned well to capitalize on market opportunities with a strong pipeline of new therapies.
Read more →ARDX▼ -5.1%on this news
Ardelyx to Report Full Year and Fourth Quarter 2025 Financial Results on February 19, 2026
Ardelyx, Inc. announced a conference call scheduled for February 19, 2026, to discuss its financial results for the full year and fourth quarter of 2025. The call will feature commentary from key executives and will be accessible via phone and webcast. Ardelyx continues to focus on developing innovative medicines, including its ongoing Phase 3 development of IBSRELA.
Read more →ARDXArdelyx Receives New Patent for Tenapanor
Ardelyx, Inc. announced the issuance of U.S. Patent No. 12,539,299 for tenapanor formulations, which includes IBSRELA and XPHOZAH. The patent, expiring on November 26, 2042, enhances the company's intellectual property portfolio. CEO Mike Raab emphasized the importance of this patent in extending protections for their innovative medicines. The patent will also be listed in the FDA's Orange Book.
Read more →About Ardelyx, Inc.
Headquarters34175 ARDENWOOD BLVD., FREMONT, CA, 94555
Founded2007
BIOPHARMAWATCH ELITE PLUS
Trade the next ARDX catalyst before the market reprices
Every FDA decision, PoA score, 13F move and dilution flag on this page, for 1,100+ biotech tickers. From $19/mo billed annually.
Cancel anytime