Ultragenyx Reports $139.3 Million Revenue in Q1 2025, Driven by 46% Increase in Product Sales

Ultragenyx Pharmaceutical Inc. reported a total revenue of $139.3 million for the first quarter of 2025, marking a 28% increase from $108.8 million in the same period of 2024. This growth was primarily driven by a 46% rise in product sales, which reached $91.5 million, up from $62.5 million a year earlier. The company's flagship product, Crysvita, saw a significant revenue increase of 52%, generating $55.1 million compared to $36.2 million in the prior year. Royalty revenue also experienced a modest increase, rising to $47.8 million from $46.3 million.

Despite the revenue growth, Ultragenyx reported a net loss of $151.1 million for the quarter, a slight improvement from the $170.7 million loss recorded in the first quarter of 2024. The company's operating expenses increased to $282.2 million, up from $274.2 million, largely due to higher costs associated with research and development, which totaled $165.8 million, and selling, general, and administrative expenses, which reached $87.8 million. The increase in operating expenses was attributed to the ongoing development of its product pipeline and the expansion of its commercial operations.

In terms of strategic developments, Ultragenyx has been actively pursuing collaborations and licensing agreements to enhance its product offerings. The company has a diverse portfolio of approved therapies and ongoing clinical programs, including gene therapy candidates for rare diseases. Notably, the company is preparing for the potential commercial launch of its gene therapy product candidates, which are currently in various stages of clinical development. As of March 31, 2025, Ultragenyx had 94.5 million shares of common stock outstanding and reported cash, cash equivalents, and marketable securities totaling $563 million.

Operationally, Ultragenyx has focused on expanding its geographic reach and increasing patient access to its therapies. The company has reported a growing number of patients on therapy, particularly for Crysvita in Latin America, and has launched Evkeeza in Japan and several European markets. The company continues to invest in its manufacturing capabilities, including the establishment of a gene therapy manufacturing facility, which is expected to support its future product candidates.

Looking ahead, Ultragenyx anticipates continued investment in research and development, with expectations of achieving profitability by 2027. The company acknowledges the inherent risks associated with drug development and commercialization, including regulatory challenges and competition from other biopharmaceutical companies. However, it remains committed to advancing its pipeline and expanding its market presence in the rare disease space.