Ultragenyx reported total revenue of $173 million for the third quarter of 2026, exceeding analyst expectations despite a slight miss on its lead product, Crysvita. The company announced a major strategic pivot, including a 20% headcount reduction and the termination of its UX701 program for Wilson disease, as it refocuses on commercial execution and attaining GAAP profitability by 2027.
Key Highlights
- Total revenue of $173 million surpassed the $155.6 million estimate, driven by strength in Evkeeza and Dojolvi.
- Crysvita revenue totaled $109 million, missing the consensus estimate of $112.5 million due to ordering patterns.
- Management is implementing a 20% workforce reduction and terminating the UX701 gene therapy program to streamline the R&D footprint.
- The company secured $413 million in gross proceeds from the sale of two Priority Review Vouchers following recent FDA approvals for Genglycos and Fayuvi.
- Reaffirmed full-year 2026 revenue guidance of $730 million to $760 million and expectations for 2027 profitability.