Pomerantz Law Firm Announces the Filing of a Class Action Against Ardelyx, Inc. and Certain Officers – ARDX
NEW YORK, NY / ACCESSWIRE / August 16, 2024 / Pomerantz LLP announces that a class action lawsuit has been filed against Ardelyx, Inc. ("Ardelyx" or the "Company") (NASDAQ:ARDX) and certain officers. The class action, filed in the United States District Court for the District of Massachusetts, and docketed under 24-cv-12119, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Ardelyx securities between October 31, 2023 and July 1, 2024, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officers.
Ardelyx Faces Rising Challenges Despite Revenue Growth
Ardelyx's Q2 2024 revenues increased significantly to $73.2 million from $22.3 million in Q2 2023. SG&A expenses rose to $64.7 million in Q2 2024 due to commercialization efforts for Ibsrela and Xphozah. Despite revenue growth, Ardelyx reported a net loss of $16.5 million in Q2 2024, similar to Q2 2023.
Ardelyx, Inc. (ARDX) Q2 2024 Earnings Call Transcript
Ardelyx, Inc. (NASDAQ:ARDX ) Q2 2024 Earnings Conference Call August 1, 2024 4:30 PM ET Company Participants Caitlin Lowie - Vice President of Corporate Communications & Investor Relations Michael Raab - President & Chief Executive Officer Susan Rodriguez - Chief Commercial Officer Justin Renz - Chief Financial Officer & Chief Operations Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Yigal Nochomovitz - Citi Dennis Ding - Jefferies Laura Chico - Wedbush Roanna Ruiz - Leerink Partners Ryan Deschner - Raymond James Joseph Thome - TD Cowen Ed Arce - H.C. Wainwright.
Here's What Key Metrics Tell Us About Ardelyx (ARDX) Q2 Earnings
While the top- and bottom-line numbers for Ardelyx (ARDX) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Ardelyx (ARDX) Reports Q2 Loss, Tops Revenue Estimates
Ardelyx (ARDX) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.08 per share a year ago.
Get Your Money Out of These 3 Biotech Stocks Before the End of July
Biotech stocks are known for their high volatility and potential for massive gains. The success in the sector often hinges on progressive and often groundbreaking medical advancements.
Ardelyx (ARDX) Expected to Beat Earnings Estimates: Should You Buy?
Ardelyx (ARDX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Ardelyx sues US health department over kidney disease drug
Drugmaker Ardelyx said on Wednesday that it has filed a lawsuit against the U.S. Department of Health and Human Services and the Centers for Medicare and Medicaid Services (CMS) over their plan to include its kidney disease drug in the Medicare payment bundle system.
Ardelyx: Increased Focus On Ibsrela Due To Xphozah's Uncertain Outlook
Ardelyx declined last week after the company said it will not apply for TDAPA with the CMS for Xphozah to be included in the bundle in 2025. Legislative efforts may provide temporary relief for Xphozah, but its long-term future remains uncertain. The uncertainty around Xphozah put more pressure on Ibsrela to perform in the IBS-C market.
3 Promising Penny Stocks for the Most Astute Investors
Even though they are among the riskiest stocks on the market, investing in some penny stocks can mean a lot of profits. In times of economic uncertainty, penny stock investment can be a lifesaver for investors.
3 Stocks Under $10 With the Potential to Make You a Millionaire
Buying stocks that can make you millions is any investor's dream. That is why some investors consider micro-cap or small-cap stocks trading under $10.
The 3 Best Penny Stocks to Buy in May 2024
Penny stocks are classified as stocks that trade for less than $5 and are typically some of the riskiest stocks on the market. Many deserve their extremely low valuations, and investors avoid them as a result.
