Shares of Ardelyx (NASDAQ: ARDX) surged over 6% in extended trading on Tuesday after the biotechnology company reported impressive third-quarter financial results that topped Wall Street's expectations.
Ardelyx posted quarterly sales of $98.24 million, marking a 74.21% year-over-year increase and exceeding the analyst consensus estimate of $86.64 million by a staggering 13.39%. The strong revenue performance was a major positive surprise for investors, driving the stock's substantial after-hours rally.
While the company has yet to provide full details on its earnings and guidance, the sizable top-line beat suggests Ardelyx's business momentum remains robust. Investors will be keen to learn more about the key drivers behind the better-than-expected sales figures during the company's earnings call.
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