Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) plummeted over 5% in after-hours trading on Tuesday, despite the company reporting better-than-expected third-quarter earnings and revenue results.
For the quarter ended September 30, 2024, Ultragenyx reported a net loss of $1.40 per diluted share, narrower than the $2.23 loss in the same period a year ago and beating analysts' average estimate of a $1.48 loss. Revenue rose 42% year-over-year to $139.5 million, exceeding the consensus forecast of $135.3 million.
However, investors appeared to be disappointed by the company's full-year revenue guidance range of $530 million to $550 million, which fell short of some analysts' expectations. Additionally, there may have been concerns about the company's operating expenses, which reached $271 million in the third quarter, or other factors not fully disclosed in the initial earnings release.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.