Loading...
•
Sep 30, 2024
Ultragenyx Q3 2024 Earnings Report
Ultragenyx reported a 42% increase in total revenue compared to the prior year, driven by growth in Crysvita and Dojolvi revenues, and provided updates on clinical milestones.
Key Takeaways
Ultragenyx reported a strong third quarter with a 42% increase in total revenue, reaching $139 million. Crysvita revenue grew by 31% to $98 million, and Dojolvi revenue increased by 29% to $21 million. The company reaffirmed its 2024 total revenue guidance of $530 million to $550 million and highlighted clinical advancements, including Breakthrough Therapy Designation for setrusumab.
Total revenue for Q3 2024 grew by 42% year-over-year to $139 million.
Crysvita revenue increased by 31% to $98 million, driven by growth in Latin America and Turkey.
Dojolvi revenue grew by 29% to $21 million.
Breakthrough Therapy Designation was granted for setrusumab (UX143) in osteogenesis imperfecta.
Ultragenyx
Ultragenyx
Ultragenyx Revenue by Segment
Ultragenyx Revenue by Geographic Location
Revenue by Segment
Crysvita Revenue
CapyFin.comDojolvi Revenue
CapyFin.comEvkeeza Revenue
CapyFin.comMepsevii Revenue
CapyFin.comRevenue by Geographic Location
Europe Revenue
CapyFin.com Forward Guidance
The company expects total revenue to be in the range of $530 million to $550 million, Crysvita revenue to be towards the upper end of the range of $375 million to $400 million, Dojolvi revenue to be in the range of $75 million to $80 million, and Net Cash Used in Operations of around $400 million for the full year 2024.
Positive Outlook
- Total revenue to be in the range of $530 million to $550 million
- Crysvita revenue to be towards the upper end of the range of $375 million to $400 million.
- Crysvita revenue includes all regions where Ultragenyx will recognize revenue: product sales in Latin America and Turkey, royalties in Europe, which have been ongoing, and royalties in North America, which began in April 2023.
- Dojolvi revenue to be in the range of $75 million to $80 million
- Expect enrollment to be completed in the next few months for DTX301 AAV gene therapy for Ornithine Transcarbamylase (OTC) Deficiency
Challenges Ahead
- Net Cash Used in Operations of around $400 million
- Net loss of $134 million, or $1.40 per share basic and diluted
- Operating expenses were $271 million
- Net cash used in operations was $67 million
- The company expects to enroll an additional cohort in Stage 1 at a moderately increased dose and with an optimized immunomodulation regimen to enhance the efficiency and efficacy of the gene therapy
Revenue & Expenses
Visualization of income flow from segment revenue to net income