Ultragenyx Reports Third Quarter 2024 Financial Results and Corporate Update

In This Article:

Ultragenyx Pharmaceutical Inc.
Ultragenyx Pharmaceutical Inc.

Third quarter 2024 total revenue grew 42% versus prior year to $139 million, including Crysvita® revenue of $98 million and Dojolvi® revenue of $21 million

Reaffirmed 2024 expected total revenue guidance of $530 million to $550 million

Breakthrough Designation granted for setrusumab (UX143) in osteogenesis imperfecta

DTX401 Phase 3 follow-up data demonstrated higher and faster 62% mean reduction in cornstarch in crossover patients with glycogen storage disease type Ia (GSDIa)

NOVATO, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for serious rare and ultrarare genetic diseases, today reported its financial results for the quarter ended September 30, 2024.

“We continue to see substantial year-over-year revenue growth from our commercial portfolio as we expand geographic access to our medicines. This growth could accelerate with up to three near-term BLA submissions and approvals,” said Emil D. Kakkis, M.D., Ph.D., chief executive officer and president of Ultragenyx. “Today, we are also sharing an important update from our Phase 3 study in GSDIa with substantially larger reductions in cornstarch intake in crossover patients treated with DTX401. As in our Phase 2 patients, we observed that patients and their physicians were far more comfortable with aggressive titration of cornstarch once they were confirmed to be treated with the gene therapy and had direct access to timely glucose readings."

Third Quarter 2024 Selected Financial Data Tables and Financial Results

Revenues (dollars in thousands), (unaudited)

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Crysvita

 

 

 

 

 

 

 

Product sales

$

35,604

 

 

$

19,200

 

 

$

112,294

 

 

$

57,318

 

Revenue in Profit-Share Territory

 

55,985

 

 

 

50,230

 

 

 

163,432

 

 

 

161,450

 

Royalty revenue in European Territory

 

6,258

 

 

 

5,473

 

 

 

18,376

 

 

 

15,171

 

Total Crysvita Revenue

 

97,847

 

 

 

74,903

 

 

 

294,102

 

 

 

233,939

 

Dojolvi

 

21,374

 

 

 

16,553

 

 

 

57,091

 

 

 

47,347

 

Mepsevii

 

9,616

 

 

 

5,633

 

 

 

22,372

 

 

 

22,552

 

Evkeeza

 

10,657

 

 

 

963

 

 

 

21,788

 

 

 

1,540

 

Daiichi Sankyo

 

 

 

 

 

 

 

 

 

 

1,479

 

Total revenues

$

139,494

 

 

$

98,052

 

 

$

395,353

 

 

$

306,857

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenues
Ultragenyx reported $139 million in total revenue for the third quarter of 2024, which represents 42% growth compared to the same period in 2023. Third quarter 2024 Crysvita revenue was $98 million, which represents 31% growth compared to the same period in 2023. This includes product sales of $36 million from Latin America and Turkey, which represents 85% growth compared to the same period in 2023. Dojolvi revenue in the third quarter 2024 was $21 million, which represents 29% growth compared to the same period in 2023. Evkeeza revenue in the third quarter 2024 was $11 million, as demand continues to build in the company’s territories outside of the United States.