Ultragenyx Pharma Sees FY23 Total Revenue Below View

(RTTNews) - Ultragenyx Pharmaceutical Inc. (RARE) said that it expects total revenue to be in the range of $430 million to $435 million for fiscal year 2023. Analysts polled by Thomson Reuters expect the company to report revenues of $435.9 million for fiscal year 2023. Analysts' estimates typically exclude special items.

The company projects total revenue for fiscal year 2024 to be between $500 million and $530 million. Analysts expect revenue of $523.86 million for fiscal year 2024.

Cash, cash equivalents, and available-for-sale investments were approximately $776 million as of December 31, 2023. Cash uses in 2023 included the completion of construction of gene therapy manufacturing facility. With forecasted about 20% increases in revenue and continued focus on key pipeline value drivers, 2024 net cash use is projected to be less than $400 million.

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