Ultragenyx Pharmaceutical Inc. (RARE) announced that its net loss for the second quarter decreased to $131.60 million ($1.52 per share) from the previous year's $159.83 million ($2.25 per share).
The company reported quarterly total revenues of $147.03 million, marking a 36% increase compared to the same period in 2023.
Thomson Reuters-polled analysts had anticipated a loss of $1.69 per share and revenues of $123.18 million for the second quarter. These estimates typically exclude special items.
Ultragenyx has revised its fiscal year 2024 total revenue guidance to a range of $530 million to $550 million, up from the prior forecast of $500 million to $530 million. Analysts projected a revenue of $513.16 million for the fiscal year.
RARE closed Thursday's regular trading session at $44.15, down $0.87 or 1.93%. However, in after-hours trading, the stock rose by $3.82 or 8.65%.
