Ardelyx Projects Strong Revenue Growth for IBSRELA With $1 Billion Milestone in Sight by 2029

Record 2025 Revenue and 73% Growth in IBSRELA Highlight Commercial Momentum

Ardelyx delivered an impressive performance in 2025, reporting approximately $378 million in total product revenue, marking an 18% year-over-year increase. Notably, IBSRELA—its treatment for irritable bowel syndrome with constipation (IBS-C)—generated $274 million in revenue, representing a 73% jump from the prior year. The company attributes this milestone to effective commercial execution and robust patient access initiatives that continue to drive adoption.

Outlook: IBSRELA Targeting $1 Billion Revenue by 2029

Looking ahead, Ardelyx expects IBSRELA’s sales momentum to persist, projecting 2026 revenues between $410 million and $430 million—a minimum 50% increase over 2025. Even more striking is management’s long-term guidance: IBSRELA is anticipated to achieve $1 billion in annual revenue by 2029, further underlining its central role in the company’s growth trajectory.

The outlook is also supported by ongoing investments in commercial infrastructure, as well as the ongoing Phase 3 trial for IBSRELA in chronic idiopathic constipation (CIC), scheduled for completion in late 2027. XPHOZAH, Ardelyx’s phosphate reduction therapy, is also expected to contribute substantially, with a 2026 revenue range of $110-$120 million.

Patent Extension Secures Market Exclusivity Through 2041

One of the most notable corporate updates is the receipt of a Notice of Allowance for a new patent that will extend the intellectual property protection for both IBSRELA and XPHOZAH until December 2041. This development enhances the company’s runway for growth and should help protect its market share from generic competition as it targets ambitious revenue milestones.

Robust Pipeline and Cash Position Enable Continued Innovation

Ardelyx is not standing still: the company began development of RDX10531—a next-generation NHE3 inhibitor—with broad applications, and commenced a Phase 3 trial that could expand the IBSRELA label to chronic idiopathic constipation. As of December 31, 2025, Ardelyx reported $265 million in cash, cash equivalents, and investments, providing ample resources to fuel continued pipeline advancement and commercial expansion.

Safety Profile Remains Clear but Vigilance Recommended

While commercial results are robust, Ardelyx continues to emphasize safety for both IBSRELA and XPHOZAH. Key risks include a contraindication in pediatric patients under 6 years of age due to dehydration and the potential for severe diarrhea, which should prompt immediate suspension of therapy. The most common adverse reactions for IBSRELA were diarrhea (16%), abdominal distension (3%), flatulence (3%), and dizziness (2%). For XPHOZAH, diarrhea was reported in up to 53% of patients, with severe cases occurring in 5%.

Table: Common Adverse Reactions (IBSRELA & XPHOZAH)

What to Watch: Upcoming Clinical Milestones and Investor Outlook

With product launches ramping up and pipeline innovation accelerating, Ardelyx’s visibility with both patient communities and investors appears stronger than ever. The expected completion of the Phase 3 trial for chronic idiopathic constipation and progression of RDX10531 represent key milestones that could further expand the company’s commercial footprint.

For stakeholders, the main questions turn to whether Ardelyx can maintain its growth pace, convert clinical milestones into approvals, and continue to deliver value as it approaches that $1 billion IBSRELA sales target by 2029. With strengthened IP protection and robust financials, Ardelyx enters 2026 well positioned for further upside—though close attention to clinical updates and commercial trends will be critical for anyone tracking the company’s next chapter.

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