Stock opens 7.5% lower as company reports increased losses

  • Ardelyx shares slide after wider-than-expected 4Q loss
  • Stock opens 7.5% lower at $8.16
  • Fourth-quarter loss of $28.8 million, compared to a profit of $10.7 million a year ago
  • Operating expenses surged as selling, general, and administrative costs more than doubled
  • Revenue decreased to $34.4 million from $44.2 million

Shares of Ardelyx slid after soaring overhead costs pushed the company to a wider fourth-quarter loss than analysts had been projecting. The stock opened 7.5% lower at $8.16. After the bell on Thursday, the biotechnology company posted a fourth-quarter loss of $28.8 million, or 12 cents a share, compared with a profit of $10.7 million, or 6 cents a share, in the same quarter a year ago. Operating expenses surged during the quarter as selling, general and administrative costs more than doubled. Revenue decreased to $34.4 million from $44.2 million, coming in just above analyst projections.

Factuality Level: 8
Factuality Justification: The article provides specific details about Ardelyx’s financial performance in the fourth quarter, including the increase in losses, the stock price movement, and analyst expectations. The information is presented in a straightforward manner without digressions or sensationalism. The article also includes comparisons to the previous year’s performance and analyst projections, adding context to the financial results.
Noise Level: 3
Noise Justification: The article provides relevant information about Ardelyx’s financial performance, including details about the wider fourth-quarter loss, stock performance, and analyst expectations. It stays on topic and supports its claims with data and examples. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Ardelyx
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the financial performance of Ardelyx, a biotechnology company. However, there is no mention of an extreme event or any significant impact on financial markets or companies.
Public Companies: Ardelyx (ARDX)
Key People:

Track all markets on TradingView

Reported publicly: www.marketwatch.com