Ardelyx: Q4 Earnings Snapshot

WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Ardelyx Inc. (ARDX) on Thursday reported a fourth-quarter loss of $28.8 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 12 cents.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The biotechnology company posted revenue of $34.4 million in the period, meeting Street forecasts.

For the year, the company reported that its loss narrowed to $66.1 million, or 30 cents per share. Revenue was reported as $124.5 million.

Ardelyx shares have increased 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.82, nearly tripling 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