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Ardelyx: 3Q Earnings Snapshot

FREMONT, Calif. (AP) _ Ardelyx Inc. (ARDX) on Wednesday reported a loss of $23.5 million in its third quarter.

The Fremont, California-based company said it had a loss of 37 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.

The biotechnology company posted revenue of $3 million in the period.

Ardelyx shares have nearly tripled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.15, a rise of 56% in the last 12 months.

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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