Ardelyx (ARDX) stock

Medicines , market cap $752M

Medicines for adults with IBS-C and CKD

Worth $752M

$2.97

+1.19%

As of 11:12 AM ET, delayed 15+ min · Live for Pro members

Quality Score

-5

Poor

In its industry

#85of 90

Pharma

Checks firing

2of 14

Trending down

From 52-week high

-64.7%

under its best in a year

ARDX's Quality Score rose 1 point on Mon, Nov 9, to -5. It dipped below its 10-day low, then closed back above it.

Follow ARDX's trial news. Pro members can get an alert when Ardelyx files news, and see its trials, share raises, and its CEO's filings.

Get an alert when ARDX files news on its trialsSee it live, free for 24 hours. No account. No card. Then keep going with a free account.

We do the work for you. Every stock is scored and ranked, every 15 seconds while the market is open. Here it's 15 minutes behind. Pro members see it live.

NextEnd of 2026“The Company is on track to complete enrollment by the end of 2026…”Trial start · SEC filing · Aug 6

Cash$285M in cash. One of the last four quarters brought cash in while the others used it.On Sep 30

Why ARDX is down

Down 26% in 3 months while the S&P 500 fell 2%.

Its loss grew from $39.1M in fiscal 2024 to $61.6M in fiscal 2025.

Sources: Price history, Nov 9, 2026; Annual reports, Dec 31, 2025

−3Long-term trend below a falling 200-day average, down over one year, down over two years

1 more reason, free with an account →2 more reasons why ARDX is down, from its filings, with the other side, the timeline, and its peers, for Pro members.

Get an alert when ARDX's Quality Score turns up →

Key facts on ARDX

Key facts on ARDX
Since its 2024 high	Down 70% while sales grew 276%
Latest filing	8-K, Nov 3 Reported its quarterly results

1 more reason behind ARDX's -5, free with an account →4 more reasons behind ARDX's -5, for Pro members.

ARDX in the news

Wed Nov 4Ardelyx reported $127.7 million of quarterly revenue and a profit of $-0.00 a share SEC, 4:03 PM ET ARDX closed +8.6% that day.

Tested. Our top-scored stocks returned 2.2x the average stock over the next month. Reconstructed after the fact; recorded live since Sep 9, 2026. How we tested it

Cash$285M in cash. One of the last four quarters brought cash in while the others used it.On Sep 30

ARDX catalysts

Coming up

After its last 4 reports it closed -3.9% on average, higher 2 of 4 times.

11 past catalysts since 2023, with sizes and sources, for Pro members.

What's next for ARDX, and how long its cash lasts

Next step the company has named

End of 2026“The Company is on track to complete enrollment by the end of 2026 and to announce top-line data in the second half of 2027.”Trial start · SEC filing · Aug 6

What it means: when a trial begins, or reaches the stage the company named.

A trial underway: 26-Wk Study to Assess Safety & Efficacy of Tenapanor for T/t of Chronic Idiopathic Constipation in AdultsPhase 3 · Recruiting · 692 people · main data estimated Feb 26, 2027 · NCT07382167

1 more trial, 2 more milestones and 31 filings, for Pro members.

Cash runway Sep 30 balance sheet

$285M in cash

One of the last four quarters brought cash in while the others used it, so an average says little about the next.

What it means: a runway is counted only when each of the last four quarters used cash.

For Pro members: the cash used each quarter, and the math.

Dilution on the horizon

Shelf registration (S-3ASR, filed Nov 3, 2025)
At-the-market share sales program (S-3ASR, filed Nov 3, 2025)

For Pro members: the amounts, and the share count against a year ago.

Insiders

CFO Susan Hohenleitner sold 1,558 shares on Aug 21. 32 more insider trades this year.

From Form 4: open-market buys and sales only.

Get an alert when Michael Raab buys or sells

For Pro members: every trade, and Michael Raab’s 32 filings and quotes.

Get an alert when ARDX files news on its trialsA free account. No card.

See every upcoming FDA date →

FDA dates in the next 60 days

Decision dates and advisory committee meetings the companies have announced in their filings, soonest first and small companies first.

DateStockDrug

In 12 daysFDA decisionIn 12 days · FDA decisionCAPRCapricor TherapeuticsDeramiocelCAPRCapricor Therapeutics · $500MDeramiocelFDA decision due (PDUFA)
In 12 daysFDA decisionIn 12 days · FDA decisionSVRASavaraMolgramostimSVRASavara · $900MMolgramostimFDA decision due (PDUFA)
In 42 daysFDA decisionIn 42 days · FDA decisionMLYSMineralys TherapeuticsLorundrostatMLYSMineralys Therapeutics · $1.3BLorundrostatFDA decision due (PDUFA)

14 more FDA dates and 103 trial data dates in the next 60 days, each on the FDA calendar. Pro members see whether each company's cash lasts past its date, with an optional alert before it. See all 151 dates, ranked →

How ARDX ranks in Pharma

ARDX is #85 of 90 by Quality Score.

How ARDX ranks in Pharma
Rank	Stock	Checks	Quality Score
1	ABBVAbbVie	9/14	22
2	LLYEli Lilly	7/14	20
3	GMABGenmab	7/14	18
	ANROAlto Neuroscience		Open for its score
	APMDApnimed		Open for its score
	ARVNArvinas		Open for its score
	ARWRArrowhead Research		Open for its score
85	ARDXArdelyx	2/14	-5

When does ARDX report earnings, and what happens after?

Expected to report Thu Feb 18, after the close (in 100 days).

What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.

What ARDX reported on Nov 3, 2026

The quarter

Sales of $127.7M, 16% more than a year ago.

“Revenues: Total product revenue for the quarter ended September 30, 2026 was $125.5 million, compared to $105.5 million for the quarter ended September 30, 2025, reflecting 19% growth, driven by increased demand.”

The quarter that ended Sep 30, from the company's press release

The press release The filing on EDGAR

Where the sales came from

Where the quarter's sales came from
Line	Q3 2026	Q2 2026	Q3 2025
By product
Productup 19%	$125M98%	$118M98%	$106M96%

Each quarter's sales and their share of its total. Figures as filed (SEC filing, Nov 3)

5 more lines, for Pro members.

The outlook

The outlook the company gave, by period
Measure	Figure
FY 2026
IBSRELA revenue	$350M to $370Mkept

Figures as filed (SEC filing, Nov 3)

3 more outlook lines, for Pro members.

In the company's words

“The growth was driven by increases in total writers and total prescriptions.”

From its results filing (SEC filing · Nov 3)

The numbers

Market value: $752M; today
Sales: $468M; up 17.6% on the year
Free cash flow: -$16M; last 12 months

Sales grew 98% a year over 3 years, fiscal 2022 to 2025.

Its share count grew 15% a year over 3 years.

4 more figures, for Pro members.

No analyst estimates on Breakaway: every figure here is filed.

The whole report on ARDX: every line of its sales, every outlook beside the one it replaced, and the company's words, for Pro members.

Close after the report, last 3

+8.7%-17.9%+8.6%

Apr 30Aug 6Nov 3

Reported	When	Gap	Reaction	5 days
Nov 3, 2026After close	After close	+12.5%	+8.6%	not yet
Aug 6, 2026After close	After close	-16.8%	-17.9%	-19.7%
Apr 30, 2026After close	After close	-5.2%	+8.7%	+10.3%

ARDX closed higher after 2 of its last 4 reports.

All 4 reports, and ARDX's Quality Score going into each

ARDX sales and profit by year

Sales and profit by year

Sales grew every year from 2018 to 2025, to $407M. It lost money in each of the eight years.

ARDX has 2 of 14 chart checks firing

Trend1 of 5 shown

MA FAN 21 EMA W.EMA HH/HL 52W HI

Volume1 of 3 shown

VOL VDU U/D VOL

Tight range1 of 3 shown

ATR SQZ SQUEEZE NR7

Buying1 of 3 shown

OBV+CLOSE HI SPRING

The other 10 checks on ARDX, and all 14 on every stock.Get in free →

ARDX RSI today: 41.4, below its 50-day and 200-day averages

Not scored

RSI 41.4, MACD above signal, below both averages. Not scored.13 readings

The deep dive on ARDX

What it does and how it makes money7 findings"In exchange for granting the respective licenses, we receive upfront payments upon contract execution, are eligible to receive development and regulatory milestones upon achievement of respective events and are eligible to receive sales-based royalties and commercialization milestones." (10-K for fiscal 2025)SEC filing · Feb 19, 2026"These issued patents cover the composition and certain methods of using tenapanor, are wholly owned by us, and are predicted, without extension or adjustment, to expire in December 2029." (10-K for fiscal 2025)SEC filing · Feb 19, 2026
Where it stands3 findingsFor Pro members3 findings on where ARDX stands: its cash, debt, and share count, for Pro members
What changed in its filings4 findings"On June 26, 2026, the U.S. Court of Appeals for the District of Columbia Circuit affirmed the District Court’s dismissal of our lawsuit against CMS related to CMS reimbursement classification of XPHOZAH." (10-Q for the quarter to Sep 30, 2026)SEC filing · Nov 3, 2026New in its "Risk Factors" this year: "In addition, if successfully developed and approved for the treatment of CIC, we believe IBSRELA will also face competition from branded products Linzess (linaclotide) and Trulance (plecanatide) as well as generic lubiprostone and prucalopride." (10-K for fiscal 2025)SEC filing · Feb 19, 2026BioRidge Pharma, LLC made up 66% of its revenue in fiscal 2025, down from 75% in fiscal 2024; Cardinal Health made up 21%, up from 14% in fiscal 2024.SEC filing · Feb 19, 2026
Who holds and trades it2 findingsFor Pro members2 findings on who holds and trades ARDX, for Pro members

11 more findings on ARDX, each with its source, for Pro members.

ARDX share count over time

Shares: 3.3% more than a year ago (to Sep 30).

Shares of ARDX outstanding, as filed
Shares outstanding	As of
251.4M	Oct 27, 2026
249.2M	Jul 30, 2026
247M	Apr 23, 2026
245.2M	Feb 12, 2026

Offerings, shelves, and splits of ARDX, from its filings
From its filings	Filed
Registered shares for a later sale (S-3ASR)	Nov 3, 2025

ARDX insider trades

8 insiders sold $1M across 40 filings in the last 6 months. No open-⁠market buys on record. The newest:

SellMichael Raab$74KPresident & CEOat $3.86 on Aug 21, filed Aug 25

SellMichael RaabPresident & CEO$74Kat $3.86 on Aug 21, filed Aug 25

All 40 insider filings on ARDX from the last six months, for Pro members.

All ARDX insider trades

ARDX's officers and directors

Officers and directors with a Form 4 in the last 12 months.

Michael RaabPresident & CEO · 19 trades
Susan HohenleitnerChief Financial Officer · 4 trades
Laura A. WilliamsChief Patient Officer · 13 trades
Eric Duane FosterChief Commercial Officer · 11 trades
Mike KelliherChief Business Officer · 10 trades
Joseph James ReillyOfficer · 8 trades
John E. BishopOfficer · 6 trades
James Parker BradyChief Human Resources Officer · 5 trades

8 more officers and directors file at ARDX.

See insider trades by person

Which ETFs hold ARDX?

In ETFs: ARDX is under 0.1% of VTI, the most of the 24 funds Breakaway covers, by their holdings as filed for Jun 30, 2026.

About Ardelyx

Ardelyx Inc is a biopharmaceutical company developing and commercialize, first-in-class medicines that meet unmet medical needs. It has developed a platform that enabled the discovery of new biological mechanisms and pathways to develop potent and efficacious therapies that minimize the side effects and drug-drug interactions frequently encountered with traditional, systemically absorbed medicines. Its products Tenapanor, branded as IBSRELA, is used for the treatment of adults with IBS-C. Tenapanor, branded as XPHOZAH, is used to reduce serum phosphorus in adults with CKD on dialysis as add-on therapy in patients who have an inadequate response to phosphate binders or who are intolerant of any dose of phosphate binder therapy.

489 employeesFremont, CAardelyx.com

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Price action, the company, and signals, each with its points, on ARDX and every other stock.
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CEOs buying their own stock
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14 chart checks, read for you
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What would turn ARDX's score around: 8 things
3 more filings explained, a plain line each
4 more things pulling ARDX's score down

BreakawayAug 25Michael Raab sold ARDX$74K at $3.86, filed Aug 25

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See ARDX's 14 chart checks

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Straight AnswersStraight Answers

As of Nov 10, 2026: ARDX's Quality Score is -5 (Poor), #85 of 90 in Pharma. Insiders sold $1M in the last 6 months (Form 4).

What does ARDX's Quality Score say?

ARDX scores -5 today, which Breakaway calls Poor. It is #85 of 90 in Pharma by Quality Score, with 2 of 14 chart checks firing. Down 26% in 3 months while the S&P 500 fell 2%. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.

What is ARDX's Quality Score?

ARDX scores -5 today, which Breakaway calls Poor (below zero). That is #85 of 90 in Pharma by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind ARDX's -5.

Are insiders buying ARDX?

8 insiders sold $1M across 40 filings in the last 6 months. No open-⁠market buys on record. The newest is Michael Raab, President & CEO, who sold $74K on Aug 21. Every filing, with the scored weight, for Pro members.

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