Ardelyx falls on wider-than-expected Q4 loss

Ardelyx

23/02/2024 11:38

** Shares of drugmaker Ardelyx  ARDX.O  fall ~15.2% to $7.48
premarket
    ** Co reports Q4 loss of 12 cents/shr vs analysts' average
loss estimates of 9 cents/shr -  LSEG data
    ** ARDX expects 2024 net product revenue for its irritable
bowel syndrome drug Ibsrela to be between $140 and $150 mln,
below analysts' average estimate of $162 mln
    ** Posts quarterly revenue of $34.40 mln vs analysts'
average expectation of $34.20 mln
    ** Up to last close, stock has nearly tripled in the last 12
months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))