Ultragenyx: 2Q Earnings Snapshot
NOVATO, Calif. (AP) _ Ultragenyx Pharmaceutical Inc. (RARE) on Thursday reported a loss of $52.7 million in its second quarter.
The Novato, California-based company said it had a loss of $1.06 per share. Losses, adjusted for non-recurring gains, were $1.87 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $2.10 per share.
The biotechnology company posted revenue of $12.8 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $4.6 million.
Ultragenyx shares have risen 72 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $79.58, a climb of 27 percent in the last 12 months.