Ultragenyx Pharmaceutical Inc. RARE
We are a biopharmaceutical company committed to bringing novel products to patients for the treatment of serious rare and ultra-rare genetic diseases. We have built a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are typically no approved therapies treating the underlying disease.
We were founded in April 2010 by our President and Chief Executive Officer, Emil Kakkis, M.D., Ph.D., and are led by a management team experienced in the development and commercialization of rare disease therapeutics. Our strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $673.0M | $560.0M | $434.0M | $363.3M | $351.4M | $271.0M | $103.7M | $51.5M | $2.6M | $133.0K |
| Cost of revenue | — | — | — | — | — | — | — | $1.1M | $1.0K | — |
| Gross profit | — | — | — | — | — | — | — | $50.3M | $2.6M | — |
| R&D | $750.0M | $698.0M | $648.0M | $705.8M | $497.2M | $412.1M | $357.4M | $294.0M | $231.6M | $183.2M |
| SG&A | $349.0M | $321.0M | $310.0M | $278.1M | $220.0M | $182.9M | $161.5M | $127.7M | $99.9M | $64.9M |
| Total operating expenses | — | — | — | — | — | $601.1M | $527.9M | $422.9M | $331.6M | $248.1M |
| Operating income | -$535.0M | -$536.0M | -$569.0M | -$648.9M | -$381.7M | -$330.1M | -$424.2M | -$371.4M | -$328.9M | -$248.0M |
| Pre-tax income | -$571.0M | -$567.0M | -$609.0M | -$701.7M | -$453.0M | -$185.4M | -$399.4M | -$197.1M | -$318.3M | -$245.8M |
| Income tax | $4.0M | $2.0M | $2.0M | $5.7M | $1.0M | $1.2M | $3.3M | $514.0K | $16.2M | $35.0K |
| Net income | -$575.0M | -$569.0M | -$607.0M | -$707.4M | -$454.0M | -$186.6M | -$402.7M | -$197.6M | -$302.1M | -$245.9M |
| EPS, basic | -5.83 | -6.29 | -8.25 | -10.12 | -6.70 | -3.07 | — | — | — | — |
| EPS, diluted | -5.83 | -6.29 | -8.25 | -10.12 | -6.70 | -3.07 | -7.12 | -3.97 | -7.12 | -6.21 |
| Shares, diluted (wtd. avg.) | $98.6M | $90.5M | $73.5M | $69.9M | $67.8M | $60.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $421.0M | $174.0M | $214.0M | $132.9M | $307.6M | $713.5M | $433.6M | $113.4M | $100.5M | $161.1M |
| Short-term investments | $259.0M | $436.0M | $363.6M | $614.8M | $432.6M | $488.0M | $321.6M | $346.3M | $134.0M | $219.0M |
| Receivables | $158.0M | $122.0M | $73.4M | $40.4M | $28.4M | $23.1M | $32.8M | $12.7M | $5.2M | — |
| Inventory | $52.0M | $45.0M | $34.0M | $26.8M | $16.2M | $13.0M | $11.5M | $7.1M | $757.0K | — |
| Total current assets | $951.0M | $817.0M | $732.2M | $883.9M | $856.6M | $1.30B | $851.0M | $522.4M | $269.6M | $401.7M |
| Property, plant and equipment | $244.0M | $266.0M | $290.6M | $259.7M | $141.2M | $73.5M | $44.3M | $20.0M | $21.8M | $17.1M |
| Goodwill | $44.0M | $44.0M | $44.4M | $44.4M | $44.4M | $44.4M | $44.4M | $44.4M | $44.4M | — |
| Other intangibles | $176.0M | $178.0M | $166.3M | $160.1M | $130.8M | $131.1M | $129.0M | $129.2M | $141.5M | — |
| Total assets | $1.53B | $1.50B | $1.49B | $1.55B | $1.52B | $1.76B | $1.14B | $719.6M | $490.8M | $540.6M |
| Accounts payable | $31.0M | $39.0M | $42.1M | $43.3M | $17.1M | $12.9M | $12.9M | $12.3M | $8.9M | $5.4M |
| Total current liabilities | $384.0M | $344.0M | $280.4M | $261.2M | $181.4M | $189.6M | $103.3M | $74.7M | $71.0M | $60.3M |
| Total liabilities | $1.60B | $1.24B | $1.22B | $1.19B | $599.8M | $605.2M | $481.7M | $110.7M | $107.3M | $66.7M |
| Retained earnings | -$4.53B | -$3.96B | -$3.39B | -$2.78B | -$2.07B | -$1.62B | -$1.43B | -$1.03B | -$832.7M | -$530.5M |
| Total equity | -$80.0M | $255.0M | $275.0M | $352.0M | $922.6M | $1.15B | $653.8M | $608.9M | $383.5M | $474.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$466.0M | -$414.0M | -$475.0M | -$380.5M | -$338.7M | -$132.2M | -$345.4M | -$290.6M | -$253.8M | -$161.0M |
| Depreciation and amortisation | $35.0M | $36.0M | $26.0M | $18.2M | $13.2M | $12.3M | $8.5M | $19.5M | $5.8M | $3.4M |
| Stock-based compensation | — | — | — | — | — | — | — | — | $68.0M | $48.3M |
| Capital expenditure | $6.0M | $7.0M | $44.0M | $116.1M | $73.1M | $43.9M | $24.8M | $4.1M | $2.8M | $10.2M |
| Investing cash flow | $236.0M | -$18.0M | $168.0M | -$291.7M | -$195.4M | -$179.1M | -$13.0M | -$33.3M | $55.5M | $91.1M |
| Financing cash flow | $478.0M | $399.0M | $388.0M | $501.2M | $118.6M | $600.3M | $679.3M | $336.9M | $136.3M | $138.7M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-057329.
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