Marin County’s Ultragenyx reports nearly $100M in revenue for Q1

Ultragenyx Pharmaceutical Inc. (Nasdaq: RARE) reported a near tripling of total revenue for the first quarter of 2021 in contrast to the same period in 2020, the Novato-based company announced Tuesday afternoon.

The quarterly net loss was $136.1 million, up from a shortfall of $119.0 million a year before. But the net loss per share improved to $2.03, from $2.05 the previous first quarter.

Total revenue for the Marin County drug maker that specializes in novel treatments for rare diseases was $99.39 million for the first quarter of 2021, compared to $36.3 million from the previous year.

Of the first quarter’s good fortune this year, the Crysvita pharmaceutical division comprised about half that with revenue adding up to $42.13 million.

Crysvita is a drug designed for the treatment of a genetic form of rickets, a bone disease. The company also makes Dojolvi, a medicine to treat long-chain fatty acid oxidation disorders in both adults and children.

Total operating expenses were tallied as $205.96 million versus $156.97 million from 2020’s first quarter.

“We continue to have strong Crysvita and Dojolvi launches and execute on our development priorities across our pipeline,” CEO Emil D. Kakkis said in a statement.

Kakkis noted the biomed company is teeing up this year to conduct “pivotal” trials for three gene therapies and to continue with six clinical programs.