ARDX
Market read
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Invalidation: The isolated read changes if ARDX's group or a disclosed connection begins moving with it.
Research brief
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Interest Expense The increase in interest expense in the three months ended March 31, 2026 primarily reflected a higher outstanding loan balance resulting from the Term E Loan draw in June 2025.”10-Q · Apr 30, 2026 ↗
“25,671 58 % XPHOZAH 23,299 23,411 (112) — % Total product sales, net $ 93,373 $ 67,814 $ 25,559 38 % Product sales, net: The increase in IBSRELA product sales, net in the three months ended March 31, 2026 primarily reflected higher demand, driven by continued…”10-Q · Apr 30, 2026 ↗
“Net cash used in operating activities in 2025 was materially unchanged compared to 2024, primarily due to the increased cash inflows generated from our product sales and timing of cash collections from our Customers exceeded the increased payments made in the…”10-K · Feb 19, 2026 ↗
“The decrease in other cost of revenue in the three months ended March 31, 2026 primarily reflected the full recognition of the maximum $75.0 million royalty obligation under the AstraZeneca Termination Agreement as of the end of the 2025 second quarter, parti…”10-Q · Apr 30, 2026 ↗
Valuation discipline
Price/sales 2.1× · EV/sales 2.4×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for ARDX. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
Jodie has not yet found a suitable current-versus-prior filing comparison for ARDX. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“X 10.4 Fifth Amendment to Loan and Security Agreement, dated June 30, 2025, by and among the Company, SLR Investment Corp., as collateral agent, and the lenders party thereto .”
“AstraZeneca We had a termination agreement with AstraZeneca (AstraZeneca Termination Agreement), pursuant to which we agreed to pay AstraZeneca (i) future royalties at a royalty rate of 10 % of net sales of tenapanor or other NHE3 products by us or our licens…”
Depended on by
“Ardelyx, Inc.’s, or Ardelyx, IBSRELA™ (tenapanor), is approved by the U.S.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
ARDX is currently a Follower in the organic co-movement group Biotech and Healthcare. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for ARDX; it is not active in the latest market snapshot.
Context history
No durable theme membership has been observed for this name yet.