Ardelyx is a commercial-stage biopharmaceutical company that develops and markets medicines based on tenapanor, a minimally absorbed, first-in-class oral small-molecule inhibitor of the NHE3 sodium/hydrogen exchanger. The company generates revenue through the sale of two FDA-approved products: IBSRELA for irritable bowel syndrome with constipation and XPHOZAH for reducing serum phosphorus in dialysis patients with chronic kidney disease, both supported by specialized sales forces and patient support programs targeting their respective patient populations. Ardelyx also earns revenue through upfront payments, milestone payments, and royalties from international collaboration partners and through a development pipeline that includes next-generation compounds with multi-indication potential.