Ardelyx is trading 21.15% down now in pre-market at $3.84 after its August 6, 2026 earnings release lowered full-year IBSRELA revenue guidance to $350 million-$370 million from $410 million-$430 million.
- Q2 product revenue reached $118.1 million, up 31% year over year, but increased payer utilization management slowed new patient starts.
- Management withdrew its prior $750 million XPHOZAH revenue target, adding uncertainty despite strong prescription demand.