Ardelyx, Inc.

AI-generated fair value estimate for this company.

Method: 10-year revenue-and-margin-ramp unlevered FCF DCF: revenue grows from $450.89M TTM at 20% yr1 decelerating to 5% by yr10; FCF margin improves from -5% (yr1) to breakeven by yr2 and 25% by yr10 as IBSRELA/XPHOZAH commercial launches mature (company guides to profitability in 2027); 11% discount rate; 4% terminal growth; ~$0.68M net debt (immaterial); 249.19M shares outstanding.

Reasoning: Ardelyx is a commercial-stage biopharma with two FDA-approved, fast-growing products (IBSRELA for IBS-C, XPHOZAH for CKD-related hyperphosphatemia, TTM revenue up 16.8%); value depends on continued commercial ramp and operating leverage consistent with management's own profitability guidance.