Ardelyx, Inc. (ARDX) is a leading biotechnology company engaged in the discovery, development, and marketing of medicines to improve patients with cardiorenal and kidney diseases. The pipeline candidate of the company is tenapanor in Phase 3 trials, which is used to control serum phosphorus in dialysis patients. Another product candidate is RDX013 for the treatment of hyperkalemia and metabolic acidosis.
The price of ARDX stock during regular trading on March 1, 2022, was $0.72 with a decline of 5.45%. At last check in the premarket on March 2, 2022, the stock rebounded by 10.58%.
ARDX: Events and Happenings
On March 1, 2022, ARDX updated the recent filing with the Securities and Exchange Commission regarding the securities offered to employees according to employee benefit plans.
ARDX: Key Financials
On February 28, 2022, ARDX released its financial results for the fourth quarter of 2021 ended December 31, 2021. Some of the notable features are mentioned below.
Revenue
Total revenues during Q4 2021 were recorded to be $1.02 million versus $1.8 million in the same quarter of 2020. The company observed a $0.78 million decline in its revenue year-over-year. The company topped the revenue estimates by $8,600.
EPS
Basic and diluted net loss during the fourth quarter of 2021 was $36.2 million or $0.31 per share versus $28.8 million or $0.32 per share in the same year-ago period. The company observed an increase in its net loss over the year. Also, the company missed the estimates of the analysts by -$0.05.
On February 24, 2022, ARDX reported its entry into a debt financing contract with SLR Capital Partners investment affiliates. On February 4, 2022, ARDX announced the grant of four employees’ options by its BoDs for the acquisition of up to 35,547 shares of its common stock. The company also granted a sum of 25,750 Restricted Stock Units to its five employees. Every stock option had an exercise price of $0.84 per share.
On November 30, 2021, ARDX informed in the press release about its plan to unveil IBSRELA in Q2 2022. It is the certified treatment of the company for irritable bowel syndrome with constipation. On November 11, 2021, ARDX reported its Executive management’s participation at the Virtual Jefferies London Healthcare Conference held on November 16 – 19, 2021.
Conclusion
ARDX stock downplayed by 89% in 2021 as the reaction of the pandemic on the economy. The company’s stock gained momentum in the current premarket as it reported the recent SEC filing of securities offered to its employees. For the first fiscal quarter of 2022, the analysts expect $2 million in revenue and -$0.22 EPS.
