Summary by Moomoo AI
Ardelyx, a biopharmaceutical company, reported financial and business developments for the quarter ended March 31, 2024. The company recognized approximately $1.7 million in non-cash interest expense related to deferred royalty obligations, compared to $1.0 million in the same period the previous year. Ardelyx has not received any royalty payments from Kyowa Kirin as of March 31, 2024. The company repaid a $25.0 million principal payment from a 2018 loan and paid a $1.5 million exit fee upon FDA approval of XPHOZAH. Ardelyx entered into a new loan agreement with SLR Investment Corp., securing an additional $50.0 million to support the commercial launch of XPHOZAH. The company's future payment obligations related to the 2022 Loan, excluding interest payments and the final fee, totaled $104.95 million. Ardelyx's commercial products include IBSRELA...Show More