NasdaqGM:ARDXBiotechs
Ardelyx (ARDX) Stock Slides As Payer Friction Clouds Growth Path
Ardelyx stock just dropped 17.9% to about US$4, extending a three month slide that has taken roughly 41% off the share price. The hit looks harsh when set against what the company just posted. Q2 product revenue reached US$118 million, led by irritable bowel syndrome with constipation drug IBSRELA at US$86.2 million. The company still reported a loss of US$16.7 million, although that was smaller than in Q1.
For a biotech like Ardelyx, the real story now sits in the multi year revenue targets,...