Ultragenyx Reports Preliminary 2022 Revenue; Guidance for 2023 Revenue and Cash Usage; Pipeline Updates and 2023 Milestones
NOVATO, Calif., Jan. 06, 2023 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel products for serious rare and ultrarare genetic diseases, today reported preliminary unaudited 2022 revenue results, cash and investments at year end 2022, and provided 2023 guidance on select key financial metrics including net cash used in operations.
- Cash, cash equivalents, and available-for-sale investments were approximately $900 million as of December 31, 2022.
- In 2023 with increased focus on key pipeline value drivers, net cash use is projected to be meaningfully reduced.
- The 2022 revenues and cash position included in this release are preliminary and are therefore subject to adjustment.
- The preliminary revenue results are based on management’s initial analysis of operations for the year ended December 31, 2022.