Shares of Ardelyx (NASDAQ:ARDX) plummeted 18.66% in after-hours trading on Thursday following the release of the company's first-quarter 2025 financial results, which fell short of analyst expectations.

The biopharmaceutical company reported a quarterly loss of $0.17 per share, missing the analyst consensus estimate of $0.12 by 41.67%. This represents a significant decline from the $0.11 per share loss reported in the same period last year. Ardelyx's quarterly sales came in at $74.11 million, falling short of the analyst consensus estimate of $78.80 million by 5.95%. Despite missing estimates, the company's revenue still showed a 61.04% increase compared to the $46.02 million reported in the same quarter last year.

Ardelyx's Q1 product sales were $67.814 million, while the company reported a net loss of $41.144 million and operating expenses of $98.16 million. The disappointing results have raised concerns among investors about the company's near-term growth prospects, despite its focus on developing innovative treatments for unmet medical needs. As Ardelyx continues to navigate the competitive biopharmaceutical landscape, investors will be closely watching for signs of improvement in the coming quarters.