Ardelyx, Inc. - Common Stock (ARDX)

The US market regular session of Thursday is over, let's have a look at the top gainers and losers in the after hours session today.

Revenue for the quarter was $116.13 million, topping the consensus estimate of $111.16 million, driven by robust sales of its two approved drugs, Ibsrela and Xphozah.

The biopharma reported strong revenue growth in the fourth quarter thanks to solid performances from both of its approved products, Ibsrela and Xphozah.

Ardelyx reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report:

Stocks tumbled Thursday, with all major indices in the red, one day after the S&P 500 notched another all-time high in Wednesday’s trading session.

These stocks are at a risk of providing negative returns to shareholders due to the several operational challenges faced by the companies.

Ardelyx challenges CMS in a lawsuit over Medicare's inclusion of Xphozah in bundled payments, affecting kidney disease drug accessibility.

Ardelyx shares are trading lower Tuesday after the company announced it has chosen not to apply to include XPHOZAH in the Centers for Medicare & Medicaid Services End-Stage Renal Disease (ESRD) Prospective Payment System (PPS) Transitional Drug Add-on Payment Adjustment.

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Though risky, investors who buy biotech stocks watch their portfolios skyrocket when their drugs work as intended.