WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Ardelyx Inc. (ARDX) on Thursday reported a loss of $26.5 million in its first quarter.
On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 11 cents.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The biotechnology company posted revenue of $46 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $36.6 million.
Ardelyx shares have risen 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.77, an increase of 52% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARDX at https://www.zacks.com/ap/ARDX
