Ardelyx, Inc. (NASDAQ:ARDX), a pharmaceutical company based in Fremont, California, announced the appointment of Joseph Reilly as the new Principal Accounting Officer, effective last Friday. Reilly, who brings over a decade of experience from Bristol Myers Squibb (NYSE:NYSE:BMY), will be taking over from Robert Felsch. Felsch is transitioning to a senior financial advisor role within Ardelyx, ensuring a smooth handover of responsibilities.
Reilly, 51, joined Ardelyx as Senior Vice President of Finance in October 2024. His previous role as Vice President – Global Markets Controller at Bristol Myers Squibb involved leading a team responsible for global financial and accounting operations. His tenure at Bristol Myers Squibb also included a stint as Vice President – Global Financial Services. Before his time at BMY, Reilly spent over ten years at Ernst & Young LLP. He holds a Bachelor of Science in Accounting from Syracuse University.
InvestingPro Insights
As Ardelyx, Inc. (NASDAQ:ARDX) welcomes Joseph Reilly as its new Principal Accounting Officer, investors may be interested in some key financial insights about the company. According to InvestingPro data, Ardelyx has shown impressive revenue growth, with a 87.57% increase over the last twelve months as of Q3 2023, reaching $251.85 million. This growth trend is further supported by an InvestingPro Tip indicating that analysts anticipate continued sales growth in the current year.
Despite the strong top-line performance, Ardelyx is currently operating at a loss, with an adjusted operating income of -$64.06 million over the same period. This aligns with another InvestingPro Tip suggesting that analysts do not expect the company to be profitable this year. However, it's worth noting that Ardelyx operates with a moderate level of debt and its liquid assets exceed short-term obligations, which could provide some financial flexibility as the company pursues growth.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 5 more InvestingPro Tips available for Ardelyx, which could provide valuable context for understanding the company's financial position and future prospects.
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