Ardelyx reports Q3 2026 financial results

On November 3, 2026, Ardelyx, Inc. (the "Company") announced its financial results for the quarter ended September 30, 2026.¹ The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.²

The information furnished under this Item 2.02, including Exhibit 99.1 hereto, shall not be considered "filed" under the Securities Exchange Act of 1934, as amended (the "Exchange Act")³, nor shall it be incorporated by reference into any future filing under the Securities Act of 1933, as amended (the "Securities Act"), or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.

On November 3, 2026, the Company will host a conference call to discuss its financial results for the quarter ended September 30, 2026.⁴ A copy of the earnings presentation that will be used during this conference call is furnished as Exhibit 99.2 to this Current Report on Form 8-K⁵ and is incorporated herein by reference.

The information furnished under this Item 7.01, including Exhibit 99.2 hereto, shall not be considered "filed" under the Exchange Act nor shall it be incorporated by reference into any future filing under the Securities Act, or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.

(d) Exhibits.

Exhibit No.

Description

99.1 Press Release of Ardelyx, Inc.⁶

99.2 Earnings Presentation of Ardelyx, Inc.⁶

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 3, 2026 ARDELYX, INC.

By: /s/ Susan Hohenleitner⁶

Susan Hohenleitner

Chief Financial Officer⁶

Ardelyx Reports Third Quarter 2026 Financial Results and Provides Business Update

Enrollment completed ahead of schedule in Phase 3 Clinical Trial in CIC

Conference call scheduled for 4:30 PM Eastern Time

WALTHAM, Mass., November 3, 2026 – Ardelyx Inc. (Nasdaq: ARDX), ("Ardelyx" or the "Company") a commercial-stage biopharmaceutical company focused on the development and commercialization of innovative medicines that meet significant unmet medical needs, today reported financial results for the third quarter ended September 30, 2026, and provided a business update.

"Our third quarter results reflect the strength of the foundation we've built," said Mike Raab, President and Chief Executive Officer of Ardelyx. "IBSRELA year-over-year growth of 23% is the engine driving total product revenue of over $125 million for the quarter. With our robust tenapanor intellectual property portfolio, and our fully enrolled Phase 3 ACCEL trial for CIC, the value of IBSRELA continues to strengthen. Finally, with over $285 million in cash and investments, and a disciplined capital allocation strategy, we are well positioned to create and deliver significant long-term value."

Product Revenue

Revenue for IBSRELA ® (tenapanor) during the third quarter of 2026 was $96.3 million, reflecting year-over-year growth of 23%.⁸ The growth was driven by increases in total writers and total prescriptions.

Revenue for XPHOZAH ® (tenapanor) during the third quarter of 2026 was $29.2 million, reflecting year-over-year growth of 7%.⁸

2026 Full-Year Guidance and Outlook

• Full-year 2026 revenue guidance for IBSRELA reiterated to be between $350 and $370 million.¹²

• Full-year 2026 revenue guidance for XPHOZAH reiterated to be between $110 and $120 million.¹²

• Full-year 2026 operating expense guidance reiterated to be below $500 million.¹²

• IBSRELA long-term guidance of achieving $1 billion in annual revenue remains.

Pipeline Updates

• The Company has completed enrollment ahead of schedule in its Phase 3 clinical trial, ACCEL, evaluating tenapanor for the treatment of chronic idiopathic constipation (CIC) in adults. The Company is on track to announce topline data in the second half of 2027.

Corporate Updates

• The United States Patent and Trademark Office notified the Company that on November 10, 2026, they will issue U.S. Patent No. 12,788,750 titled, "Oral Formulation of a Therapeutic Compound", with an expiration date of December 6, 2041. This patent will cover the Company's commercial formulations of both IBSRELA and XPHOZAH.

• In October at the American College of Gastroenterology annual scientific meeting, the Company presented real world data showing that gastrointestinal-related healthcare resource utilization dropped after adults with IBS-C started IBSRELA.

• Also in October, at the American Society of Nephrology Kidney meeting, the Company presented real-world data showing reductions in serum phosphate following XPHOZAH initiation in adults on dialysis with or without phosphate binders.

Third Quarter 2026 Financial Results

• Cash Position: As of September 30, 2026, the Company had total cash, cash equivalents and short-term investments of $285.3 million¹¹, compared to total cash, cash equivalents and short-term investments of $264.7 million as of December 31, 2025.

• 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% growth⁷, driven by increased demand.

• R&D Expenses: Research and development expenses were $25.2 million for the quarter ended September 30, 2026, compared to $18.1 million for the quarter ended September 30, 2025.⁹ The increase was primarily related to investments in the ACCEL Phase 3 trial for CIC.

• SG&A Expenses: Selling, general and administrative expenses were $93.9 million for the quarter ended September 30, 2026, compared to $83.6 million for the quarter ended September 30, 2025.¹⁰ The increase was related to deliberate investments to address the access barriers and drive future adoption of IBSRELA.

• Net Loss : Net loss for the quarter ended September 30, 2026 was $0.7 million, or $(0.00) per share¹¹, compared to net loss of $1.0 million, or $(0.00) per share, for the quarter ended September 30, 2025. The net loss for the third quarter of 2026 included share-based compensation expense of $15.1 million.

Conference Call Details

The company will host a conference call today, November 3, 2026, at 4:30 PM ET to discuss today's announcement. To participate in the conference call, please dial (877) 346-6112 (domestic) or +1 (848) 280-6350 (international) and ask to be joined into the Ardelyx call. A webcast of the call can also be accessed by visiting the Investor page of the company's website, https://ardelyx.com/ , and will be available on the website following the call.

IMPORTANT SAFETY INFORMATION (IBSRELA) WARNING: RISK OF SERIOUS DEHYDRATION IN PEDIATRIC PATIENTS

IBSRELA is contraindicated in patients less than 6 years of age; in nonclinical studies in young juvenile rats administration of tenapanor caused deaths p