Ardelyx: 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

FREMONT, Calif. (AP) _ Ardelyx Inc. (ARDX) on Thursday reported a loss of $25 million in its second quarter.

On a per-share basis, the Fremont, California-based company said it had a loss of 28 cents.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.

The biotechnology company posted revenue of $1.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.1 million.

Ardelyx shares have dropped 26% since the beginning of the year. The stock has more than doubled in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARDX at https://www.zacks.com/ap/ARDX