Ultragenyx reported third-quarter 2026 total revenue of $173 million, up from $160 million a year earlier, and a net loss of $118 million, or $1.16 per share, compared with a net loss of $180 million, or $1.81 per share, in the third quarter of 2025.
The company said it is initiating substantial headcount and expense reductions, including a workforce cut of approximately 20%, bringing its headcount to about 1,000 employees. Ultragenyx expects the reduction in force to be substantially completed by the end of 2026, with approximately $25 million in severance and other non-recurring restructuring charges expected in fourth-quarter results. The company expects to reduce 2027 R&D expenses to less than $350 million and 2027 SG&A expenses to less than $375 million, driving at least a 50% reduction in 2027 R&D expenses versus 2025.
Other savings actions include completing the wind-down of all ongoing GTX-102 studies for Angelman syndrome and terminating UX701 for Wilson disease based on not achieving study goals.
Third-quarter product revenue included CRYSVITA at $109 million, DOJOLVI at $30 million, EVKEEZA at $24 million and MEPSEVII at $10 million. Cash, cash equivalents and marketable securities were $401 million as of September 30. The company entered two definitive agreements in October to sell priority review vouchers for a combined $413 million, with net proceeds expected at approximately $350 million.
Ultragenyx reaffirmed full-year 2026 revenue guidance of $730 million to $760 million and said it continues to anticipate full-year GAAP profitability in 2027 and going forward.
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