Ardelyx reshuffles leadership, adds new HR chief

WALTHAM, Mass. - Ardelyx, Inc. (NASDAQ: ARDX), a biopharmaceutical firm focused on developing first-in-class medicines for unmet medical needs, today announced key executive appointments, promoting Mike Kelliher to Chief Business Officer and bringing on James P. Brady as Chief Human Resources Officer. The company, currently valued at $924 million, has demonstrated strong revenue growth of 127% over the last twelve months, according to InvestingPro data. Despite recent market volatility causing a 7.5% decline in share price over the past week, analysts see potential upside, with price targets ranging from $8 to $15.

Kelliher, who joined Ardelyx in March 2024, has been instrumental in shaping the company’s growth and value creation strategies. In his new role, he will oversee lifecycle and portfolio management, adding to his existing responsibilities of business development and corporate strategy. InvestingPro analysis indicates the company maintains a strong liquidity position with a current ratio of 4.12, suggesting robust financial flexibility to support its growth initiatives. For deeper insights into Ardelyx’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

Brady, with a background in human resources within the life science and digital innovation sectors, will helm HR strategy and processes aimed at fostering a high performing team to support Ardelyx’s ongoing expansion.

Mike Raab, Ardelyx’s president and CEO, expressed confidence in the appointments, highlighting Kelliher’s valuable contributions to the company and Brady’s extensive experience in people development as critical to advancing business initiatives and talent strategies.

Before Ardelyx, Kelliher held various roles at Horizon Therapeutics, including Group Vice President, M&A and Business Development. His tenure saw significant company growth through strategic acquisitions and collaborations. Kelliher’s career also includes financial positions at Elan Corporation and in banking, public accounting, and corporate finance. He is a board member at Capricor Therapeutics and holds an accounting degree from University College Cork.

Brady’s HR expertise includes a stint as Chief Human Resources Officer at Spero Therapeutics, where he implemented a hybrid work model and garnered industry recognition for the company. His previous roles spanned uniQure, Intarcia Therapeutics, Genzyme Corporation, and Thomson Financial. He holds a Bachelor of Arts from Marietta College and a Master of Theological Studies from Harvard University.

Ardelyx has two commercial products in the U.S., IBSRELA and XPHOZAH, and has established partnerships for the development and commercialization of tenapanor outside the U.S. The company maintains a strong presence in Japan through Kyowa Kirin and in China with Fosun Pharma, and it collaborates with Knight Therapeutics in Canada.

This announcement is based on a press release statement from Ardelyx. While the company maintains a solid financial health score of 2.82 according to InvestingPro, investors should note that analysts do not anticipate profitability this year. Access InvestingPro’s full suite of financial metrics and 8 additional ProTips to make more informed investment decisions.

In other recent news, Ardelyx Inc. reported its first-quarter 2025 earnings, revealing a net loss of $0.17 per share, which fell short of the anticipated loss of $0.11 per share. The company’s revenue reached $74.1 million, below the expected $78.09 million, despite a 61% year-over-year growth driven by strong sales of its key products, IBSRELA and XPOVIO. In parallel, Ardelyx presented new data on its FDA-approved drug IBSRELA at the Digestive Disease Week Conference, highlighting its potential benefits for patients with irritable bowel syndrome with constipation. Additionally, Ardelyx showcased interim safety data from a Phase 3 study of tenapanor in pediatric patients, indicating no serious adverse events. Meanwhile, Raymond James downgraded Ardelyx’s stock rating from "Strong Buy" to "Outperform" and reduced the price target from $13.00 to $11.00, citing concerns over the growth of the Ibsrela and Xphozah franchises. Despite these challenges, Ardelyx’s management remains optimistic, maintaining their 2025 guidance for IBSRELA at $240 million to $250 million and peak sales guidance for Xphozah at $750 million. The company continues to focus on strategic priorities, including expanding market presence and maximizing sales potential for its core products.

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