Ardelyx Reports Second Quarter 2024 Financial Results and Provides Business Update
Ardelyx reported strong Q2 2024 financial results, with significant revenue growth from its two key products. IBSRELA generated $35.4 million in net product sales, showing 25% quarter-over-quarter growth. XPHOZAH recorded $37.1 million in net product sales, up from $15.2 million in Q1. The company ended Q2 with approximately $186 million in cash and investments.
Total revenue for Q2 2024 was $73.2 million, compared to $22.3 million in Q2 2023. Net loss for Q2 2024 was $16.5 million, or $(0.07) per share. Ardelyx continues to expect full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million.
The company is taking legal action against CMS to protect patient access to XPHOZAH, following concerns about potential access restrictions due to proposed policy changes.
Ardelyx ha riportato solidi risultati finanziari per il secondo trimestre del 2024, con una significativa crescita dei ricavi dai suoi due prodotti principali. IBSRELA ha generato 35,4 milioni di dollari in vendite nette di prodotti, mostrando una crescita del 25% rispetto al trimestre precedente. XPHOZAH ha registrato 37,1 milioni di dollari in vendite nette di prodotti, rispetto ai 15,2 milioni del primo trimestre. L'azienda ha concluso il secondo trimestre con circa 186 milioni di dollari in contante e investimenti.
I ricavi totali per il Q2 2024 sono stati di 73,2 milioni di dollari, rispetto ai 22,3 milioni del Q2 2023. La perdita netta per il Q2 2024 è stata di 16,5 milioni di dollari, ovvero $(0,07) per azione. Ardelyx continua a prevedere che i ricavi netti delle vendite di prodotti per il 2024 negli Stati Uniti per IBSRELA si collocano tra 140,0 e 150,0 milioni di dollari.
L'azienda sta intraprendendo azioni legali contro CMS per proteggere l'accesso dei pazienti a XPHOZAH, a seguito di preoccupazioni riguardo a potenziali restrizioni all'accesso a causa di cambiamenti di politica proposti.
Ardelyx reportó sólidos resultados financieros para el segundo trimestre de 2024, con un crecimiento significativo de los ingresos de sus dos productos clave. IBSRELA generó 35,4 millones de dólares en ventas netas de productos, mostrando un crecimiento del 25% respecto al trimestre anterior. XPHOZAH registró 37,1 millones de dólares en ventas netas de productos, frente a los 15,2 millones del primer trimestre. La empresa finalizó el segundo trimestre con aproximadamente 186 millones de dólares en efectivo e inversiones.
Los ingresos totales para el Q2 2024 fueron de 73,2 millones de dólares, en comparación con 22,3 millones en el Q2 2023. La pérdida neta para el Q2 2024 fue de 16,5 millones de dólares, o $(0,07) por acción. Ardelyx sigue esperando que los ingresos netos por ventas de productos para IBSRELA en 2024 en EE. UU. se sitúen entre 140,0 y 150,0 millones de dólares.
La empresa está tomando acciones legales contra CMS para proteger el acceso de los pacientes a XPHOZAH, tras preocupaciones sobre posibles restricciones de acceso debido a cambios de política propuestos.
Ardelyx는 2024년 2분기 강력한 재무 실적을 보고했으며, 두 주요 제품에서 상당한 매출 성장을 보여주었습니다. IBSRELA는 3,540만 달러의 순 제품 판매를 기록하며, 이전 분기 대비 25% 증가했습니다. XPHOZAH는 3,710만 달러의 순 제품 판매를 기록했으며, 이는 1분기의 1,520만 달러에서 증가한 수치입니다. 이 회사는 2분기를 약 1억 8600만 달러의 현금 및 투자를 보유한 상태로 마감했습니다.
2024년 2분기 총수익은 7320만 달러로, 2023년 2분기의 2230만 달러와 비교됩니다. 2024년 2분기의 순 손실은 1650만 달러, 주당 $(0.07)입니다. Ardelyx는 2024년 미국에서 IBSRELA의 순 제품 판매 수익이 1억 4000만 달러에서 1억 5000만 달러 사이가 될 것으로 예상하고 있습니다.
이 회사는 제안된 정책 변화로 인해 발생할 수 있는 접근 제한 문제에 대해 XPHOZAH에 대한 환자의 접근을 보호하기 위해 CMS에 대한 법적 조치를 취하고 있습니다.
Ardelyx a annoncé de solides résultats financiers pour le deuxième trimestre 2024, avec une croissance significative des revenus de ses deux principaux produits. IBSRELA a généré 35,4 millions de dollars en ventes nettes de produits, affichant une croissance de 25 % par rapport au trimestre précédent. XPHOZAH a enregistré 37,1 millions de dollars en ventes nettes de produits, contre 15,2 millions de dollars au premier trimestre. L'entreprise a terminé le deuxième trimestre avec environ 186 millions de dollars en espèces et investissements.
Le chiffre d'affaires total pour le T2 2024 s'élevait à 73,2 millions de dollars, contre 22,3 millions de dollars au T2 2023. La perte nette pour le T2 2024 était de 16,5 millions de dollars, soit $(0,07) par action. Ardelyx continue de s'attendre à ce que les revenus nets des ventes de produits pour IBSRELA aux États-Unis en 2024 se situent entre 140,0 et 150,0 millions de dollars.
L'entreprise engage une action en justice contre CMS pour protéger l'accès des patients à XPHOZAH, à la suite de préoccupations concernant des restrictions potentielles d'accès dues à des changements de politique proposés.
Ardelyx hat starke Finanzzahlen für das zweite Quartal 2024 gemeldet, mit einem signifikanten Umsatzwachstum aus seinen beiden Hauptprodukten. IBSRELA erzielte 35,4 Millionen Dollar an Nettoumsatz, was einem Anstieg um 25% im Vergleich zum Vorquartal entspricht. XPHOZAH verzeichnete 37,1 Millionen Dollar Nettoumsatz, im Vergleich zu 15,2 Millionen Dollar im ersten Quartal. Das Unternehmen beendete das zweite Quartal mit etwa 186 Millionen Dollar an Bar- und Investitionsmitteln.
Der Gesamtumsatz für das zweite Quartal 2024 betrug 73,2 Millionen Dollar im Vergleich zu 22,3 Millionen Dollar im zweiten Quartal 2023. Der Nettoverlust für das zweite Quartal 2024 betrug 16,5 Millionen Dollar oder $(0,07) pro Aktie. Ardelyx erwartet weiterhin, dass der Nettoumsatz aus Produktverkäufen für IBSRELA im gesamten Jahr 2024 in den USA zwischen 140,0 und 150,0 Millionen Dollar liegen wird.
Das Unternehmen ergreift rechtliche Schritte gegen CMS, um den Patienten Zugang zu XPHOZAH zu sichern, nachdem Bedenken hinsichtlich möglicher Einschränkungen des Zugangs aufgrund vorgeschlagener Politikanpassungen geäußert wurden.
- IBSRELA generated $35.4 million in net product sales, showing 25% quarter-over-quarter growth
- XPHOZAH recorded $37.1 million in net product sales, up from $15.2 million in Q1
- Total revenue for Q2 2024 was $73.2 million, compared to $22.3 million in Q2 2023
- Company ended Q2 with approximately $186 million in cash and investments
- Ardelyx expects full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million
- Net loss for Q2 2024 was $16.5 million, or $(0.07) per share
- Selling, general and administrative expenses increased by $37.5 million compared to Q2 2023
- Potential access restrictions to XPHOZAH due to proposed CMS policy changes
Ardelyx's Q2 2024 financial results demonstrate strong performance, particularly in revenue growth. The company reported total revenue of
- IBSRELA generated
$35.4 million in net product sales, up93% year-over-year. - XPHOZAH, launched recently, contributed
$37.1 million in net product sales.
However, the company still reported a net loss of
The company's cash position remains strong at
While revenue is growing rapidly, expenses are also increasing, with SG&A expenses up to
Ardelyx's Q2 2024 results highlight the growing acceptance of their novel therapies in the medical community. IBSRELA, for irritable bowel syndrome with constipation (IBS-C) and XPHOZAH, for hyperphosphatemia in chronic kidney disease patients on dialysis, are both showing strong market penetration.
IBSRELA's performance suggests it's addressing a significant unmet need in IBS-C treatment. The company's projection of achieving at least
XPHOZAH's rapid adoption (
The company's presence at major medical conferences (Digestive Disease Week, National Kidney Foundation Spring Clinical Meetings) and the presentation of additional supporting data for both products underscore their commitment to building scientific credibility and awareness among healthcare providers. This continued engagement with the medical community is important for long-term success in these competitive therapeutic areas.
Ardelyx's legal challenge against the Centers for Medicare and Medicaid Services (CMS) is a significant development with potential far-reaching implications for the company and the broader pharmaceutical industry. The lawsuit, filed in partnership with patient advocacy groups, contests CMS's decision to include oral-only phosphate lowering therapies in the End-Stage Renal Disease Prospective Payment System (ESRD PPS).
This legal action highlights several key issues:
- Patient Access: Ardelyx argues that the CMS policy could restrict access to XPHOZAH for all patients, regardless of insurance coverage. This raises important questions about the balance between cost control measures and ensuring patient access to innovative therapies.
- Regulatory Authority: By claiming that CMS has violated its statutory and regulatory authority, Ardelyx is challenging the scope of CMS's power to implement such policies. The outcome of this case could set a precedent for future regulatory decisions affecting drug reimbursement.
- Shared Decision-Making: The company's argument that the policy interferes with shared decision-making between healthcare professionals and patients touches on fundamental principles of medical practice and patient autonomy.
The decision not to apply for the ESRD PPS Transitional Drug Add-on Payment Adjustment is a strategic move that aligns with their legal stance. However, it also carries risks if the lawsuit is unsuccessful, potentially impacting XPHOZAH's market position.
This legal battle underscores the complex interplay between healthcare policy, patient rights and pharmaceutical innovation. The outcome could have significant implications for Ardelyx's business model and the broader landscape of renal care therapies.
IBSRELA generates
XPHOZAH generates
Company ends Q2 with approximately
Conference call scheduled for 4:30 PM Eastern Time
WALTHAM, Mass., Aug. 01, 2024 (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 second quarter ended June 30, 2024 and provided a business update.
“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
IBSRELA® (tenapanor) records
U.S. net product sales revenue for IBSRELA during the second quarter of 2024 was
Ardelyx continues to expect full-year 2024 U.S. net product sales revenue for IBSRELA to be between
XPHOZAH® (tenapanor) launch progresses, records
Ardelyx continued to see a strong response to XPHOZAH from the nephrology community. U.S. net product sales revenue during Q2 2024 was
During the quarter, the company announced that an analysis of the Centers for Medicaid and Medicare Services (CMS) End-Stage Renal Disease Prospective Payment System (ESRD PPS) proposed rule to include oral-only medicines in the ESRD PPS revealed that the policy and the manner in which CMS intends to implement it are likely to cause significant restrictions on the use of XPHOZAH for all patients, irrespective of insurance coverage, because it interferes with the essential and appropriate shared decision-making between healthcare professionals and their patients. As part of an effort to protect patient access to XPHOZAH, the company announced on July 2 that it has chosen not to apply for the ESRD PPS Transitional Drug Add-on Payment Adjustment; and on July 18, the company announced that it has filed a lawsuit against CMS in partnership with the American Association of Kidney Patients and the National Minority Quality Forum claiming that CMS has violated its statutory and regulatory authority in its determination to include oral-only phosphate lowering therapies in the ESRD PPS.
Other Corporate Developments
- In June, the company presented data detailing educational needs related to irritable bowel syndrome with constipation (IBS-C) across healthcare disciplines in a poster at the 2024 American Association of Nurse Practitioners National Conference.
- The company had a significant presence at the 2024 Digestive Disease Week Conference, held May 18-21, 2024. The company presented two posters providing additional data supporting IBSRELA. The company also sponsored a Product Theater titled: “Discover IBSRELA: a Different Mechanism of Action to Treat Adults With IBS-C: A Case-Based Discussion,” where Brooks Cash, MD, led an engaging discussion about important clinical considerations for managing IBS-C in adult patients.
- The company had a significant presence at the National Kidney Foundation 2024 Spring Clinical Meetings, held May 14-18, 2024. The company presented three posters providing additional data supporting XPHOZAH. The company also sponsored an Exhibitor Spotlight titled “A New Paradigm: Rethinking Hyperphosphatemia Management,” where David M. Spiegel, MD and Lisa Gutekunst MSEd, RD, CSR, CDN, FNKF, discussed the clinical application of XPHOZAH as add-on therapy for the many dialysis patients on a phosphate binder with serum phosphorus levels above guideline-established targets.
Second Quarter 2024 Financial Results
- Cash Position: As of June 30, 2024, the company had total cash, cash equivalents and short-term investments of
$186.0 million , as compared to total cash, cash equivalents and short-term investments of$184.3 million as of December 31, 2023. - Revenues: Total revenue for the quarter ended June 30, 2024 was
$73.2 million , compared to$22.3 million in total revenue during the quarter ended June 30, 2023, primarily reflecting increased net product sales.
- IBSRELA U.S. net product sales revenue was
$35.4 million , compared to$18.3 million during the same period of 2023. - XPHOZAH U.S. net product sales revenue was
$37.1 million , with no comparable revenue during the same period of 2023. - There was no material product supply revenue during the quarter ended June 30, 2024, compared to
$3.3 million during the same period of 2023. - Licensing revenue was
$19 thousand , compared to$764 thousand during the same period of 2023. - Non-cash royalty revenue related to the sale of future royalties was
$0.6 million , with no comparable revenue during the same period of 2023.
- IBSRELA U.S. net product sales revenue was
- R&D Expenses: Research and development expenses were
$12.8 million for the quarter ended June 30, 2024, compared to$8.3 million for the quarter ended June 30, 2023. - SG&A Expenses: Selling, general and administrative expenses were
$64.7 million for the quarter ended June 30, 2024, an increase of$37.5 million compared to$27.2 million for the quarter ended June 30, 2023. The increase in selling, general and administrative expenses was primarily due to increased costs associated with the ongoing commercialization of IBSRELA and XPHOZAH. - Net Loss: Net loss for the quarter ended June 30, 2024 was
$16.5 million , or$(0.07) per share, compared to net loss of$17.1 million , or$(0.08) per share, for the quarter ended June 30, 2023. The$16.5 million net loss for the second quarter of 2024 included share-based compensation expense of$10.8 million and non-cash interest expense related to the sale of future royalties of$1.6 million .
Conference Call Details
The company will host a conference call today, August 1, 2024, at 4:30 PM ET to discuss today’s announcement. To participate in the conference call, please dial (844) 481-2838 (domestic) or (412) 317-1858 (international) and ask to be joined into the Ardelyx call. A webcast of the call can also be accessed by visiting the Investor page of the company's website, www.ardelyx.com, and will be available on the website for 30 days following the call.
IMPORTANT SAFETY INFORMATION (IBSRELA)
WARNING: RISK OF SERIOUS DEHYDRATION IN PEDIATRIC PATIENTS |
IBSRELA is contraindicated in patients less than 6 years of age; in nonclinical studies in young juvenile rats administration of tenapanor caused deaths presumed to be due to dehydration. Avoid use of IBSRELA in patients 6 years to less than 12 years of age. The safety and effectiveness of IBSRELA have not been established in patients less than 18 years of age. |
CONTRAINDICATIONS
- IBSRELA is contraindicated in patients less than 6 years of age due to the risk of serious dehydration.
- IBSRELA is contraindicated in patients with known or suspected mechanical gastrointestinal obstruction.
WARNINGS AND PRECAUTIONS
Risk of Serious Dehydration in Pediatric Patients
- IBSRELA is contraindicated in patients below 6 years of age. The safety and effectiveness of IBSRELA in patients less than 18 years of age have not been established. In young juvenile rats (less than 1 week old; approximate human age equivalent of less than 2 years of age), decreased body weight and deaths occurred, presumed to be due to dehydration, following oral administration of tenapanor. There are no data available in older juvenile rats (human age equivalent 2 years to less than 12 years).
- Avoid the use of IBSRELA in patients 6 years to less than 12 years of age. Although there are no data in older juvenile rats, given the deaths in younger rats and the lack of clinical safety and efficacy data in pediatric patients, avoid the use of IBSRELA in patients 6 years to less than 12 years of age.
Diarrhea
Diarrhea was the most common adverse reaction in two randomized, double-blind, placebo-controlled trials of IBS-C. Severe diarrhea was reported in
MOST COMMON ADVERSE REACTIONS
The most common adverse reactions in IBSRELA-treated patients (incidence ≥
INDICATION
IBSRELA (tenapanor) is indicated for the treatment of Irritable Bowel Syndrome with Constipation (IBS-C) in adults.
Please see full Prescribing Information, including Boxed Warning, for additional risk information.
IMPORTANT SAFETY INFORMATION (XPHOZAH)
CONTRAINDICATIONS
XPHOZAH is contraindicated in:
- Pediatric patients under 6 years of age
- Patients with known or suspected mechanical gastrointestinal obstruction
WARNINGS AND PRECAUTIONS
Diarrhea
Patients may experience severe diarrhea. Treatment with XPHOZAH should be discontinued in patients who develop severe diarrhea.
MOST COMMON ADVERSE REACTIONS
Diarrhea, which occurred in 43
INDICATION
XPHOZAH (tenapanor), 30 mg BID, is indicated to reduce serum phosphorus in adults with chronic kidney disease (CKD) on dialysis as add-on therapy in patients who have an inadequate response to phosphate binders or who are intolerant of any dose of phosphate binder therapy.
For additional safety information, please see full Prescribing Information.
About Ardelyx
Ardelyx was founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs. Ardelyx has two commercial products approved in the United States, IBSRELA® (tenapanor) and XPHOZAH® (tenapanor). Ardelyx has agreements for the development and commercialization of tenapanor outside of the U.S. Kyowa Kirin commercializes PHOZEVEL® (tenapanor) for hyperphosphatemia in Japan. A New Drug Application for tenapanor for hyperphosphatemia has been submitted in China with Fosun Pharma. Knight Therapeutics commercializes IBSRELA in Canada. For more information, please visit https://ardelyx.com/ and connect with us on X (formerly known as Twitter), LinkedIn and Facebook.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Ardelyx, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Reform Act of 1995, including Ardelyx’s current expectation regarding opportunities for continued IBSRELA and XPHOZAH adoption; the potential market share for IBSRELA and annual U.S. net product sales revenue prior to patent expiry; projected U.S. net product sales revenue for IBSRELA for full year 2024; the impact of the Transitional Drug Add-on Payment Adjustment (TDAPA) period and the ESRD PPS policy on access to XPHOZAH; and Ardelyx’s current belief that not applying for TDAPA may help to protect patient access to XPHOZAH. Such forward-looking statements involve substantial risks and uncertainties that could cause Ardelyx's future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, uncertainties associated with the development of, regulatory process for, and commercialization of drugs in the U.S. and internationally. Ardelyx undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Ardelyx's business in general, please refer to Ardelyx's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 1, 2024, and its future current and periodic reports to be filed with the Securities and Exchange Commission.
Investor and Media Contacts:
Caitlin Lowie
clowie@ardelyx.com
Ardelyx, Inc. Condensed Balance Sheets (In thousands) | |||||||
June 30, 2024 | December 31, 2023 | ||||||
(Unaudited) | (1) | ||||||
Assets | |||||||
Cash and cash equivalents | $ | 41,890 | $ | 21,470 | |||
Investments | 144,071 | 162,829 | |||||
Accounts receivable | 37,241 | 22,031 | |||||
Prepaid commercial manufacturing | 14,797 | 18,925 | |||||
Prepaid commercial manufacturing, non-current | — | 4,235 | |||||
Inventory, current | 13,756 | 12,448 | |||||
Inventory, non-current | 69,676 | 37,039 | |||||
Property and equipment, net | 1,016 | 1,009 | |||||
Right-of-use assets | 4,324 | 5,589 | |||||
Prepaid and other assets | 16,717 | 12,004 | |||||
Total assets | $ | 343,488 | $ | 297,579 | |||
Liabilities and stockholders' equity | |||||||
Accounts payable | $ | 10,881 | $ | 11,138 | |||
Accrued compensation and benefits | 10,458 | 12,597 | |||||
Current portion of operating lease liability | 3,550 | 4,435 | |||||
Deferred revenue | 20,442 | 15,826 | |||||
Accrued expenses and other liabilities | 26,718 | 15,041 | |||||
Operating lease liability, net of current portion | 1,096 | 1,725 | |||||
Long-term debt | 100,249 | 49,822 | |||||
Deferred royalty obligation related to the sale of future royalties | 23,104 | 20,179 | |||||
Stockholders' equity | 146,990 | 166,816 | |||||
Total liabilities and stockholders' equity | $ | 343,488 | $ | 297,579 |
(1) Derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Ardelyx, Inc. Condensed Statements of Operations (Unaudited) (In thousands, except share and per share amounts) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Revenues: | |||||||||||||||
Product sales, net: | |||||||||||||||
IBSRELA | $ | 35,445 | $ | 18,309 | $ | 63,806 | $ | 29,664 | |||||||
XPHOZAH | 37,146 | — | 52,297 | — | |||||||||||
Total product sales, net | 72,591 | 18,309 | 116,103 | 29,664 | |||||||||||
Product supply revenue | 13 | 3,260 | 2,139 | 3,262 | |||||||||||
Licensing revenue | 19 | 764 | 36 | 776 | |||||||||||
Non-cash royalty revenue related to the sale of future royalties | 599 | — | 967 | — | |||||||||||
Total revenues | 73,222 | 22,333 | 119,245 | 33,702 | |||||||||||
Cost of goods sold: | |||||||||||||||
Cost of product sales | 1,405 | 492 | 2,418 | 864 | |||||||||||
Other cost of revenue | 8,031 | 2,997 | 14,146 | 4,162 | |||||||||||
Total cost of goods sold | 9,436 | 3,489 | 16,564 | 5,026 | |||||||||||
Operating expenses: | |||||||||||||||
Research and development | 12,762 | 8,282 | 23,341 | 17,375 | |||||||||||
Selling, general and administrative | 64,654 | 27,186 | 117,648 | 53,989 | |||||||||||
Total operating expenses | 77,416 | 35,468 | 140,989 | 71,364 | |||||||||||
Loss from operations | (13,630 | ) | (16,624 | ) | (38,308 | ) | (42,688 | ) | |||||||
Interest expense | (3,326 | ) | (1,075 | ) | (5,682 | ) | (2,103 | ) | |||||||
Non-cash interest expense related to the sale of future royalties | (1,576 | ) | (968 | ) | (3,278 | ) | (1,937 | ) | |||||||
Other income, net | 2,145 | 1,546 | 4,484 | 2,848 | |||||||||||
Loss before provision for income taxes | (16,387 | ) | (17,121 | ) | (42,784 | ) | (43,880 | ) | |||||||
Provision for income taxes | 67 | — | 188 | 14 | |||||||||||
Net loss | $ | (16,454 | ) | $ | (17,121 | ) | $ | (42,972 | ) | $ | (43,894 | ) | |||
Net loss per share of common stock - basic and diluted | $ | (0.07 | ) | $ | (0.08 | ) | $ | (0.18 | ) | $ | (0.21 | ) | |||
Shares used in computing net loss per share - basic and diluted | 234,571,192 | 214,951,127 | 233,818,576 | 211,009,029 | |||||||||||
![](https://ml.globenewswire.com/media/NDM1OTM1NGMtZDc3MC00YmIwLTkzYTktNmRhNzk1ODUxODAzLTEwMTY5ODE=/tiny/Ardelyx-Inc-.png)
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