$RARE
Ultragenyx Pharmaceutical Inc.

2016 Q3 Form 10-Q Financial Statement

#000156459017021336 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2016 Q3
Revenue $111.0K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $17.18M
YoY Change 67.94%
% of Gross Profit
Research & Development $48.71M
YoY Change 64.01%
% of Gross Profit
Depreciation & Amortization $1.030M
YoY Change 134.09%
% of Gross Profit
Operating Expenses $65.89M
YoY Change 65.0%
Operating Profit
YoY Change
Interest Expense $920.0K
YoY Change 37.31%
% of Operating Profit
Other Income/Expense, Net -$50.00K
YoY Change -266.67%
Pretax Income -$64.91M
YoY Change 65.46%
Income Tax
% Of Pretax Income
Net Earnings -$64.91M
YoY Change 65.45%
Net Earnings / Revenue -58477.48%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.641M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $396.4M
YoY Change -11.6%
Cash & Equivalents $142.3M
Short-Term Investments $254.2M
Other Short-Term Assets $20.30M
YoY Change 65.04%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $416.8M
YoY Change -9.53%
LONG-TERM ASSETS
Property, Plant & Equipment $18.20M
YoY Change 188.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $76.20M
YoY Change -42.92%
Other Assets $3.900M
YoY Change 143.75%
Total Long-Term Assets $98.40M
YoY Change -30.41%
TOTAL ASSETS
Total Short-Term Assets $416.8M
Total Long-Term Assets $98.40M
Total Assets $515.2M
YoY Change -14.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.600M
YoY Change 50.0%
Accrued Expenses $43.50M
YoY Change 116.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.40M
YoY Change 104.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $8.800M
YoY Change 1366.67%
Total Long-Term Liabilities $8.800M
YoY Change 1366.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.40M
Total Long-Term Liabilities $8.800M
Total Liabilities $59.30M
YoY Change 133.46%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $455.9M
YoY Change
Total Liabilities & Shareholders Equity $515.2M
YoY Change -14.43%

Cashflow Statement

Concept 2016 Q3
OPERATING ACTIVITIES
Net Income -$64.91M
YoY Change 65.45%
Depreciation, Depletion And Amortization $1.030M
YoY Change 134.09%
Cash From Operating Activities -$28.75M
YoY Change -6.05%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M
YoY Change 51.52%
Acquisitions
YoY Change
Other Investing Activities $55.51M
YoY Change -139.16%
Cash From Investing Activities $52.51M
YoY Change -136.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 63.45M
YoY Change -78.02%
NET CHANGE
Cash From Operating Activities -28.75M
Cash From Investing Activities 52.51M
Cash From Financing Activities 63.45M
Net Change In Cash 87.21M
YoY Change -23.73%
FREE CASH FLOW
Cash From Operating Activities -$28.75M
Capital Expenditures -$3.000M
Free Cash Flow -$25.75M
YoY Change -10.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
128000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
132458000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2267000
rare Noncash License Fee From Collaboration Arrangement
NoncashLicenseFeeFromCollaborationArrangement
700000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
8431000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-760000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5833000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-492000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18000
us-gaap Net Income Loss
NetIncomeLoss
-220408000
us-gaap Net Income Loss
NetIncomeLoss
-174587000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
39184994
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-8377000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-173707000
us-gaap Share Based Compensation
ShareBasedCompensation
48473000
us-gaap Share Based Compensation
ShareBasedCompensation
34771000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1451000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-4230000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3311000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3842000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1547000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
22588000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-172020000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-113295000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1894000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9522000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
230490000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1273000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3879000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
311523000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
27642000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
94289000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
202833000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
326228000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-1221000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
1202000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-688000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
98270000
rare Proceeds From Issuance Of Common Stock At Market Offering
ProceedsFromIssuanceOfCommonStockAtMarketOffering
67616000
rare Proceeds From Issuance Of Common Stock At Market Offering
ProceedsFromIssuanceOfCommonStockAtMarketOffering
33700000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
26362000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4212000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3674000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
71828000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
63736000
us-gaap Effect Of Exchange Rate On Cash Continuing Operations
EffectOfExchangeRateOnCashContinuingOperations
167000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-100713000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
48711000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93569000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
142280000
us-gaap Nature Of Operations
NatureOfOperations
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Organization </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ultragenyx Pharmaceutical Inc. (the Company) is a biopharmaceutical company and was incorporated in California on April&#160;22, 2010. The Company subsequently reincorporated in the state of Delaware in June 2011. </p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is focused on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare diseases, with a focus on serious, debilitating genetic diseases.&#160;The Company has completed a Phase 3 study of vestronidase alfa (recombinant human beta-glucuronidase or rhGUS) in patients with mucopolysaccharidosis 7 (MPS 7), a rare lysosomal storage disease, and is conducting Phase 2 and Phase 3 studies of burosumab (KRN23 or UX023), an antibody targeting fibroblast growth factor 23 (FGF23), in pediatric and adult patients with X-linked hypophosphatemia (XLH) and a Phase 2 study in tumor induced osteomalacia (TIO), both rare diseases that impair bone mineralization; a Phase 3 study for UX007 in patients with glucose transporter type-1 deficiency syndrome (Glut1 DS), a brain energy deficiency, who are experiencing movement disorders; and a Phase 2 clinical study of UX007 in patients severely affected by long-chain fatty acid oxidation disorders (LC-FAOD), a genetic disorder in which the body is unable to convert long chain fatty acids into energy. The Company operates as one reportable segment.</p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:13pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:13pt;margin-top:4pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The accompanying consolidated financial statements have been prepared in accordance with GAAP. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities and the reported amounts of expenses in the consolidated financial statements and the accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to clinical trial accruals, fair value of assets and liabilities, income taxes, and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. </p></div>
CY2017Q3 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
377851000
CY2016Q4 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
482876000
CY2017Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
378200000
CY2017Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
358000
CY2017Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
377851000
CY2016Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
483293000
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
27000
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
444000
CY2017Q3 rare Research And Clinical Trial Expenses
ResearchAndClinicalTrialExpenses
20568000
CY2016Q4 rare Research And Clinical Trial Expenses
ResearchAndClinicalTrialExpenses
18593000
CY2017Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
19102000
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17226000
CY2017Q3 rare Repayment And Contract Liability Under Collaboration Arrangement
RepaymentAndContractLiabilityUnderCollaborationArrangement
7962000
CY2016Q4 rare Repayment And Contract Liability Under Collaboration Arrangement
RepaymentAndContractLiabilityUnderCollaborationArrangement
13650000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17180000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13694000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
48473000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34771000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6016985
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5345897
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5904288
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4724824
CY2017Q3 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-349000
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-417000
CY2017Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-7055000
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
1322000

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