ARDELYX, INC. 8-K

What Happened
Ardelyx, Inc. (ARDX) announced preliminary, unaudited U.S. net product sales and year‑end cash balances in a Form 8‑K filed January 8, 2026. The company reported approximately $87 million in U.S. net sales of IBSRELA (tenapanor) for Q4 2025 and about $274 million for the full year 2025, and approximately $28 million in U.S. net sales of XPHOZAH (tenapanor) for Q4 2025 and about $104 million for the full year 2025. As of December 31, 2025, Ardelyx reported approximately $265 million in cash, cash equivalents, and short‑term investments. These figures are preliminary and unaudited.

Key Details

• Report filed: Form 8‑K dated January 8, 2026 (Item 2.02 Results of Operations and Financial Condition).
• IBSRELA (tenapanor) U.S. net product sales: ~ $87M in Q4 2025; ~ $274M for full year 2025.
• XPHOZAH (tenapanor) U.S. net product sales: ~ $28M in Q4 2025; ~ $104M for full year 2025.
• Cash position: ~ $265M in cash, cash equivalents and short‑term investments as of 12/31/2025.
• Figures are preliminary, unaudited and subject to adjustment; Ernst & Young LLP did not audit or review these preliminary amounts.

Why It Matters
These preliminary revenue and cash figures give investors an early view of Ardelyx’s recent commercial performance for its two branded tenapanor products and its year‑end liquidity. The company’s disclosure is not final financials—amounts may change when audited statements are prepared—so investors should treat these as provisional metrics while awaiting the audited 2025 financial statements.