Ultragenyx Pharma Q3 Loss Narrows

(RTTNews) - Ultragenyx Pharmaceutical Inc. (RARE) reported that its third-quarter net loss narrowed to $68.8 million or $1.13 per share, from $113.0 million or $1.96 per share last year.

Quarterly revenues were $81.5 million up from $25.8 million in the previous year. Ultragenyx recognized $37.3 million in total Crysvita revenue in the Ultragenyx territories, which includes $34.1 million in collaboration revenue in the North American profit share territory and net product sales in other regions of $3.3 million.

Analysts polled by Thomson Reuters expected the company to report a loss of $1.27 per share and revenues of $53.89 million for the quarter. Analysts' estimates typically exclude special items.

The lower end of the range for 2020 Crysvita revenue in Ultragenyx territories has been increased to $130.0 million from $125.0 million. The updated guidance range is $130.0 million to $140.0 million.