Ardelyx Inc. (ARDX) shares surged 6.92% in the pre-market trading session on Thursday, following the company's impressive fourth-quarter 2024 earnings results that surpassed analyst estimates.
The biopharmaceutical company reported quarterly earnings of $0.02 per share, beating the consensus estimate of $0.01 by 100%. This marked a significant improvement from the loss of $0.12 per share reported in the same period last year. Ardelyx's revenue for the quarter stood at $116.13 million, a remarkable 237.95% year-over-year increase, and also exceeded the analyst consensus estimate of $109.94 million by 5.63%.
The strong financial performance and better-than-expected results suggest that Ardelyx's products and pipeline are gaining traction, driving investor optimism and propelling the stock higher in the pre-market trading session.
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