WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Ardelyx Inc. (ARDX) on Thursday reported fourth-quarter net income of $4.6 million, after reporting a loss in the same period a year earlier.
The Waltham, Massachusetts-based company said it had net income of 2 cents per share.
The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 2 cents per share.
The biotechnology company posted revenue of $116.1 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $111.2 million.
For the year, the company reported that its loss narrowed to $39.1 million, or 17 cents per share. Revenue was reported as $333.6 million.
Ardelyx shares have climbed 25% since the beginning of the year. The stock has declined 26% in the last 12 months.
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