ARDELYX INC (ARDX)
Health Care · Gastrointestinal and renal specialty pharmaceuticals · NASDAQ
Ardelyx commercializes tenapanor-based therapies (IBSRELA for IBS-C, XPHOZAH for kidney disease hyperphosphatemia) with a pipeline of next-generation NHE3 inhibitors.
What ARDELYX INC does
Ardelyx is a commercial-stage biopharmaceutical company that develops and commercializes innovative medicines targeting significant unmet medical needs. The company markets two FDA-approved therapies based on tenapanor, an NHE3 inhibitor: IBSRELA for irritable bowel syndrome with constipation (IBS-C) and XPHOZAH for reducing serum phosphorus in chronic kidney disease patients on dialysis. The company is also advancing a next-generation NHE3 inhibitor and conducting Phase 3 trials to expand tenapanor's use to chronic idiopathic constipation.
Themes: ["IBS-C treatment","Hyperphosphatemia / kidney disease","Gastrointestinal / specialty pharma","NHE3 pathway"]
Fundamentals
- Price$5.38 as of 2026-07-09 close
- Market cap$1.3B as of 2026-07-10
- 1-year return+17.0% as of 2026-07-09 close
- Net margin-13.6% as of 2026-07-10
- Gross margin+92.5% as of 2026-07-10
- ROE-38.1% as of 2026-07-10
- Debt / equity1.37 as of 2026-07-10
- Revenue growth (YoY)+18.2% as of 2026-07-10
- Revenue CAGR (3y)+98.4% SEC XBRL
- Beta0.70 as of 2026-07-10
Key risks (from latest filing)
["Commercial execution risk: IBSRELA and XPHOZAH adoption and market penetration depend on continued prescriber awareness and patient demand; competition from established secretagogue therapies (Linzess, Trulance, generic lubiprostone) for IBS-C","Clinical development risk: Phase 3 ACCEL trial for CIC expansion must succeed for potential label extension; RDX10531 development faces IND-enabling study execution risk","Profitability and funding risk: Company is currently unprofitable with negative net margin; depends on product sales growth, debt financing (SLR term loans), and future equity raises to fund operations and pipeline development"]
Competitors & peers
- Allergan Specialty Therapeutics (Linzess / linaclotide)
- Takeda Pharmaceutical (Trulance / plecanatide)
- Generic lubiprostone manufacturers
- Phosphate binder manufacturers (Sanofi, Fresenius, others)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.