Fri. Jan 24th, 2020

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE)

21 min read

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development of novel products for serious rare and ultra-rare genetic diseases, newly stated its fiscal results and corporate update for the quarter finished September 30, 2k19.

3rd-Quarter 2k19 Fiscal Results

Net Revenues

For the 3rd-quarter of 2k19, Ultragenyx stated $25.80M in total revenue, counting $22.60M in Crysvita revenue. Crysvita revenue includes $19.50M in partnershiprevenue in the North American profit share territory, $2.00M in royalty revenue in the European territory from Kyowa Kirin Co., and product revenue in other regions of $1.10M. The Company recognized $2.40M in Mepsevii® (vestronidase alfa) product revenue, $0.70M in UX007 named patient revenue, and also $0.10M in revenue from its research agreement with Bayer.

Revenue for the 9.0-months finished September 30, 2k19 was $68.10M, counting $57.30M in Crysvita revenue. Crysvita revenue includes $48.70M in partnershiprevenue in the North American profit share territory, $5.90M in royalty revenue in the European territory from Kyowa Kirin Co., and product revenue for Crysvita in other regions of $2.70M. The Company recognized $8.30M in Mepsevii product revenue, $2.00M in UX007 named patient revenue, and also $0.50M in revenue from its research agreement with Bayer.

Operating Costs

Total operating costs for the 3rd-quarter of 2k19 were $143.80M contrast with $101.40M for the similar duration in 2k18, counting a $20.00M research and development cost in the 3rd-quarter of 2k19 from the GeneTx agreement, and non-cash stock-based compensation of $19.90M and $20.70M in the 3rd-quarter of 2k19 and 2k18, respectively. Total operating costs for the 9.0-months finished September 30, 2k19 were $397.80M contrast with $316.30M for the similar duration in 2k18, counting a $15.60M research and development cost from the Arcturus partnershipamendment, a $20.00M research and development cost from the GeneTx agreement, and non-cash stock-based compensation of $62.30M and $59.00M in the 1st-9.0-months of 2k19 and 2k18, respectively. The incline in total operating costs is because of the incline in commercial, development, and general and administrative costs as the company commercializes, grows, and advances its pipeline.

For the 3rd-quarter of 2k19, Ultragenyx stated a net loss of $113.00M, or $1.960 for each share, basic and diluted, contrast with a net loss for the 3rd-quarter of 2k18 of $87.30M, or $1.740 for each share, basic and diluted. For the 9.0-months finished September 30, 2k19, net loss was $308.90M, or $5.500 for each share, basic and diluted, contrast with a net loss for the similar duration in 2k18 of $109.80M, or $2.220 for each share, basic and diluted. The loss for the 3rd-quarter of 2k19 and for the 9.0-months finished September 30, 2k19 includes unrealized gains of $2.20M and $12.00M, respectively, from the fair value adjustment on the investment in Arcturus equity securities. The loss for the 1st-9.0-months of 2k18 includes a $40.30M gain from Ultragenyx’s portion of the sale of the priority review voucher (PRV) received with the Crysvita U.S. Food and Drug Administration (FDA) approval and includes a $130.00M gain from the sale of the PRV received with the Mepsevii FDA approval. The net loss for the 1st-9.0-months of 2k19 reflected cash used in operations of $273.30M contrast to $234.70M for the similar duration in 2k18.

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