Ardelyx Reports Strong Sales Growth, Sets 2025 Strategic Goals
Ardelyx, Inc. achieved significant commercial progress in 2024, culminating in approximately $319 million in U.S. net product sales revenue (unaudited). The company reaffirms its peak U.S. net IBSRELA sales revenue target of greater than $1 billion and its projected peak U.S. net XPHOZAH sales revenue of $750 million. As of December 31, 2024, Ardelyx held approximately $250 million in cash, cash equivalents, and investments.
IBSRELA Performance in 2024
In 2024, Ardelyx demonstrated sustained growth with its flagship product, IBSRELA® (tenapanor), an oral medication indicated for Irritable Bowel Syndrome with Constipation (IBS-C) in adults. The product generated approximately $158 million in net product sales revenue during the year, including $54 million in net product sales revenue for the fourth quarter. This performance reflects consistent quarter-over-quarter growth and accelerated in the fourth quarter following the expanded commercialization efforts, including the completion of the company’s field-based sales team expansion. Looking ahead to 2025, Ardelyx anticipates maintaining this strong momentum for IBSRELA. The company currently projects a full-year 2025 U.S. net product sales revenue for IBSRELA between $240.0 million and $250.0 million, with the expectation of achieving greater than ten percent market share at peak and generating more than $1.0 billion in annual U.S. net product sales revenue before patent term expiration. A key component of this outlook is the ongoing commercial execution strategy.
XPHOZAH Sales and Market Position
XPHOZAH® (tenapanor), a product approved for reducing serum phosphorus in adults with chronic kidney disease (CKD) on dialysis as add-on therapy, also saw success in its first full year of commercialization. XPHOZAH recorded approximately $161 million in net product sales revenue for 2024, including $57 million in net product sales revenue during the fourth quarter. The product’s strong launch and continued positive feedback from prescribers underscore the significant unmet need in patients receiving dialysis. Based on current projections, XPHOZAH is expected to achieve $750 million in annual U.S. net product sales revenue before patent term expiration.
Financial Position and Strategic Outlook
Ardelyx maintains a strong cash position of approximately $250 million as of December 31, 2024, providing the company with resources to support its strategic priorities. These priorities center on maintaining growth momentum, investing in pipeline development, and delivering strong financial performance. The company’s continued commitment to operational excellence will be crucial in achieving its ambitious goals. Ardelyx will next present and provide a business update at the 42nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 15, 2025, at 7:30 p.m. ET / 4:30 p.m. PT.
Important Safety Information and Access to Medications
It’s important to note that coverage for oral-only therapies, including XPHOZAH, is no longer available under Medicare Part D as of January 1, 2025. Patients will access XPHOZAH through Transition Pharmacy, the ArdelyxAssist specialty pharmacy partner. Ardelyx also offers the Ardelyx patient assistance program to ensure access for patients who may not have affordable options. Key safety information regarding both IBSRELA and XPHOZAH, including warnings related to dehydration and diarrhea, is available in the full Prescribing Information.
Concluding, Ardelyx’s 2024 results demonstrate a path toward sustained growth for both IBSRELA and XPHOZAH, solidifying its commitment to addressing significant unmet medical needs within the IBS-C and CKD patient populations.
