News

Ardelyx’s Positive Sales Forecast Sends Shares Surging

1 Mins read

Shares of biopharmaceutical company Ardelyx reached a new 52-week high on Monday following an optimistic sales outlook. The stock, based in Waltham, Mass., was trading at $7.45, experiencing a 21% increase. Earlier in the session, it reached a peak of $7.52.

Ardelyx announced its projection for the 2024 net product sales revenue of its irritable bowel syndrome drug, Ibsrela. Last year, Ibsrela generated approximately $80 million in sales revenue. The company now expects the revenue to amount to $140 million to $150 million in the United States. Furthermore, Ardelyx anticipates that the drug will reach an annual U.S. net product sales revenue exceeding $1 billion at its peak.

In addition to Ibsrela, Ardelyx disclosed the strong initial response received from the nephrology community for its kidney-disease drug, Xphozah. The drug was launched in November after receiving approval from the U.S. Food and Drug Administration. For the first quarter, Ardelyx expects the net product sales revenue of Xphozah to be approximately $2.5 million in the United States.

Related posts
News

First Solar Inc. Financial Report

1 Mins read
First Solar Inc. saw its shares rise more than 5% during the extended session on Tuesday, showing investor optimism for the future…
News

AMC Entertainment Holdings Inc. Quarterly Results Awaited

1 Mins read
Shares of AMC Entertainment Holdings Inc. have surged 5.9% on Tuesday, marking a three-day winning streak and the largest daily percentage increase…
News

Theratechnologies FDA Rejection

1 Mins read
Theratechnologies is poised for a significant setback as the Food and Drug Administration (FDA) has rejected its supplemental biologics license application for…

Leave a Reply

Your email address will not be published. Required fields are marked *

33 − = 30