Ardelyx, Inc. (ARDX) saw its loss widen to $29.03 million, or $0.65 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $18.13 million, or $0.70 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $29.20 million, compared with an operating loss of $18.08 million in the previous year period.
"We have made substantial progress throughout 2016, both as a company and through the advancement of our clinical programs," said Mike Raab, president and chief executive officer of Ardelyx. "We have advanced our three ongoing Phase 3 clinical trials for tenapanor, are on-track to initiate Phase 3 development for our second product candidate, RDX227675, in patients with hyperkalemia before the end of the year and have further progressed our earlier-stage pipeline of novel therapies. As we look ahead, 2017 is set to be a transformational year for Ardelyx, with results from our Phase 3 clinical trial of tenapanor in patients with hyperphosphatemia expected in the first quarter and results from our T3MPO-1 and T3MPO-2 Phase 3 clinical trials of tenapanor in patients with IBS-C expected mid-year and at the end of the year, respectively."
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