Ultragenyx Pharmaceutical(RARE) - 2025 Q3 - Quarterly Results

Revenue Performance - Total revenue for Q3 2025 was $160 million, representing a 15% growth compared to Q3 2024[4] - Crysvita revenue in Q3 2025 was $112 million, including $47 million from Latin America and Türkiye[4] - Dojolvi revenue in Q3 2025 was $24 million[4] - Total revenues for Q3 2025 reached $159.933 million, a 14.7% increase from $139.494 million in Q3 2024[30] - Product sales increased to $94.993 million in Q3 2025, up from $77.251 million in Q3 2024, representing a 22.9% growth[30] - Royalty revenue for Q3 2025 was $64.940 million, compared to $62.243 million in Q3 2024, showing a 4.3% increase[30] Financial Guidance - The company reaffirmed 2025 revenue guidance of $640 million to $670 million, with Crysvita revenue expected between $460 million to $480 million[13] Operating Expenses - Operating expenses for Q3 2025 totaled $331 million, including $37 million in non-cash stock-based compensation[5] - Operating expenses totaled $330.823 million in Q3 2025, a 21.8% increase from $271.481 million in Q3 2024[30] - Research and development expenses rose to $216.212 million in Q3 2025, up from $170.109 million in Q3 2024, reflecting a 27.1% increase[30] Net Loss - Net loss for Q3 2025 was $180 million, or $1.81 per share, compared to a net loss of $134 million, or $1.40 per share in Q3 2024[7] - Net loss for Q3 2025 was $180.413 million, compared to a net loss of $133.516 million in Q3 2024, indicating a 35.1% increase in losses[30] - Net loss per share for Q3 2025 was $1.81, compared to $1.40 in Q3 2024[30] Cash and Assets - Cash, cash equivalents, and marketable debt securities were $447 million as of September 30, 2025[8] - Cash, cash equivalents, and marketable debt securities decreased to $447.315 million as of September 30, 2025, down from $745.029 million at the end of 2024[34] - Total assets as of September 30, 2025, were $1.190 billion, a decrease from $1.503 billion at the end of 2024[34] - Total stockholders' equity fell to $9.159 million as of September 30, 2025, down from $255.297 million at the end of 2024[34] Future Developments - UX143 for osteogenesis imperfecta is expected to have phase 3 study readouts by the end of 2025[12] - The company plans to resubmit the BLA for UX111 early in 2026 following constructive discussions with the FDA[16] Balance Sheet Improvement - The company received $400 million from the sale of a portion of its Crysvita royalty interest, enhancing its balance sheet[9]