Ardelyx reports $378 million in 2025 revenue, projects growth

Ardelyx Inc. (NASDAQ: ARDX) reported preliminary 2025 product revenue of approximately $378 million, representing 18% year-over-year growth, according to a company statement.

The biopharmaceutical company's drug IBSRELA generated $274 million in revenue during 2025, marking 73% growth compared to 2024. IBSRELA produced approximately $87 million in fourth-quarter revenue. The company's second product, XPHOZAH, recorded $104 million in full-year revenue with $28 million generated in the fourth quarter.

Ardelyx projects IBSRELA revenue will reach between $410 million and $430 million in 2026, representing growth of at least 50% compared to 2025. The company expects IBSRELA to achieve $1 billion in revenue by 2029. XPHOZAH revenue is projected to be between $110 million and $120 million for 2026.

The company reported $265 million in cash, cash equivalents and investments as of December 31, 2025. Ardelyx has commenced a Phase 3 clinical trial evaluating IBSRELA in patients with chronic idiopathic constipation, with completion expected in the second half of 2027.

Ardelyx received a Notice of Allowance for a patent that will extend intellectual property protection for both IBSRELA and XPHOZAH until December 6, 2041. The patent covers the commercial formulations of both products.

The company continues development of RDX10531, described as a next-generation sodium/hydrogen exchanger 3 inhibitor. IBSRELA is approved for treating irritable bowel syndrome with constipation in adults, while XPHOZAH is indicated to reduce serum phosphorus in adults with chronic kidney disease on dialysis.

The preliminary financial results are unaudited and subject to change upon completion of the audit for the year ended December 31, 2025.

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