Ultragenyx Pharmaceutical Inc. Files Q2 2024 10-Q

TL;DR

Ultragenyx Q2 10-Q is in. Financials and biz ops detailed.

AI Summary

Ultragenyx Pharmaceutical Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial position and operational activities. Key financial data and disclosures related to its business operations, including collaborations and investments, are detailed within this filing.

Why It Matters

This filing provides investors and stakeholders with a detailed look at Ultragenyx's financial health and operational progress during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Ultragenyx faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• N/A — Revenue (Specific revenue figures are not directly extractable from the provided snippet.)
• N/A — Net Income/Loss (Specific net income or loss figures are not directly extractable from the provided snippet.)
• N/A — Cash and Equivalents (Specific cash and equivalents figures are not directly extractable from the provided snippet.)

Key Players & Entities

• Ultragenyx Pharmaceutical Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• Kyowa Kirin (company) — Mentioned in relation to collaboration

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value RARE The Nasdaq Global Se

Filing Documents

• rare-20240630.htm (10-Q) — 2887KB
• rare-ex31_1.htm (EX-31.1) — 15KB
• rare-ex31_2.htm (EX-31.2) — 15KB
• rare-ex32_1.htm (EX-32.1) — 11KB
• img216851630_0.jpg (GRAPHIC) — 100KB
• 0000950170-24-089488.txt ( ) — 9548KB
• rare-20240630.xsd (EX-101.SCH) — 1094KB
• rare-20240630_htm.xml (XML) — 1696KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 35 Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 72 Item 3. Defaults Upon Senior Securities 72 Item 4. Mine Safety Disclosures 72 Item 5. Other Information 72 Item 6. Exhibits 73

Signatures

Signatures 74 C AUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or the Quarterly Report, contains forward-looking statements that involve risks and uncertainties. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements other than statements of historical fact contained in this Quarterly Report are forward-looking statements. In some cases, you can identify forward-looking statements by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or the negative of these words, or other comparable terminology. These forward-looking statements include, but are not limited to, statements about: our commercialization, marketing, and manufacturing capabilities and strategy; our expectations regarding the timing of clinical study commencements and reporting results from same; the timing and likelihood of regulatory approvals for our product candidates; the anticipated indications for our product candidates, if approved; the potential market opportunities for commercializing our products and product candidates; our expectations regarding the potential market size and the size of the patient populations for our products and product candidates, if approved for commercial use; estimates of our expenses, revenue, capital requirements, and our needs for additional financing; our ability to develop, acquire, and advance product candidates into, and successfully complete, clinical studies; the implementation of our business model and strategic plans for our business, products and product candidates and the integration and performance of any businesses we have acquired or may acquire; the initiation, timing, progress, and results of ongoing and future pr

FINANCIA L INFORMATION

PART I. FINANCIA L INFORMATION

Financi al Statements

Item 1. Financi al Statements ULTRAGENYX PHARMACEUTICAL INC. C ONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share amounts) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 480,693 $ 213,584 Marketable debt securities 283,128 363,625 Accounts receivable, net 105,982 73,390 Inventory 40,137 33,969 Other assets 54,700 47,616 Total current assets 964,640 732,184 Property, plant, and equipment, net 278,707 290,566 Marketable debt securities 110,669 199,901 Intangible assets, net 166,243 166,271 Goodwill 44,406 44,406 Other assets 53,772 57,685 Total assets $ 1,618,437 $ 1,491,013 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 59,807 $ 42,114 Accrued liabilities 154,421 196,486 Lease liabilities 11,717 12,595 Liabilities for sales of future royalties 46,921 29,242 Total current liabilities 272,866 280,437 Lease liabilities 25,741 30,574 Deferred tax liabilities 30,058 30,058 Liabilities for sales of future royalties 842,157 862,325 Other liabilities 15,197 12,205 Total liabilities 1,186,019 1,215,599 Stockholders' equity: Preferred stock, par value of $ 0.001 per share— 25,000,000 shares authorized; nil outstanding in 2024 and in 2023 — — Common stock, par value of $ 0.001 per share— 250,000,000 shares authorized; outstanding— 92,135,384 in 2024 and 82,315,590 in 2023 92 82 Treasury stock, at cost, 65,063 in 2024 and 9,559 in 2023 ( 3,395 ) ( 432 ) Deferred compensation obligation 3,395 432 Additional paid-in capital 4,123,364 3,662,346 Accumulated other comprehensive income (loss) ( 1,095 ) 647 Accumulated deficit ( 3,689,943 ) ( 3,387,661 ) Total stockholders' equity 432,418 275,414 Total liabilities and stockholders' equity $ 1,618,437 $ 1,491,01

View Full Filing

View this 10-Q filing on SEC EDGAR