Ultragenyx Pharma (NASDAQ: RARE) reported Q2 EPS of $0.41, $1.95 better than the analyst estimate of ($1.54). Revenue for the quarter came in at $61.71 million versus the consensus estimate of $39.12 million.

“In the second quarter we made significant progress expanding the commercial reach of Crysvita and Mepsevii despite the COVID environment. We also expanded our commercial portfolio with two FDA approvals in a two-week period as Dojolvi for LC-FAOD and Crysvita for TIO became the third and fourth approvals for Ultragenyx,” said Emil D. Kakkis, M.D., Ph.D., Chief Executive Officer and President of Ultragenyx. “We also presented positive updates at ASGCT on both of our clinical gene therapy programs, DTX401 for GSDIa and DTX301 for OTC deficiency, and we are heading towards Phase 3 studies for each of them.”

GUIDANCE:

Ultragenyx Pharma sees FY2020 revenue of $125-140 million, versus the consensus of $176.86 million.

Crysvita Guidance in Ultragenyx Territories
The company continues to maintain its guidance range for 2020 Crysvita revenue in the Ultragenyx territories between $125.0 million and $140.0 million, but will continue to monitor the COVID-19 pandemic situation. Ultragenyx territories include the collaboration revenue from the North American profit share territory (U.S. and Canada) and other regions where revenue from product sales are recognized by Ultragenyx (Latin America, Turkey). This excludes the European territory revenue, which is recognized as non-cash royalty revenue since the rights were sold to Royalty Pharma in December 2019.

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