Ultragenyx launches restructuring plan as class action targets setrusumab disclosures

Ultragenyx Pharmaceutical Inc. began implementing a strategic restructuring on February 12, 2026, including a 10% reduction in headcount, or about 130 employees, and the termination of UX143 manufacturing agreements. The company expects about $50 million in related charges in the first half of 2026 as it seeks to reduce costs, focus resources on its largest value drivers, and support its stated path to achieving profitability in 2027.

For the year ended December 31, 2025, Ultragenyx reported revenue of $673 million, a 20% increase versus 2024, led by Crysvita’s 17% growth to $481 million and strong expansion in Evkeeza, but still posted a net loss of $575 million on $1.2 billion in operating expenses. In 2025, Ultragenyx generated total revenue of $673 million, up 20% year-on-year, driven by 17% growth in Crysvita to $481 million and strong gains in Evkeeza, though it still reported a net loss of $575 million on operating expenses of $1.2 billion. The company entered 2026 with $737 million in cash and guided 2026 revenues from existing products to $730 million-$760 million.

Ultragenyx is also facing a class action lawsuit on behalf of purchasers of common stock between August 3, 2023 and December 26, 2025. According to the lawsuit, defendants made false and/or misleading statements and/or concealed material adverse facts concerning the true state of setrusumab’s potential and the true risk inherent in the study protocols put forth; notably, that, while setrusumab does increase material bone density, this increase does not correlate to a decrease in annualized fracture rates or otherwise the Phase III Orbit and Cosmic studies were much less likely to be able to demonstrate such a link than management claimed.

Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by April 6, 2026. Ultragenyx Pharmaceutical Inc. is a biopharmaceutical company focused on developing and commercializing novel therapies for serious rare and ultra-rare genetic diseases, with marketed products including Crysvita, Dojolvi, Evkeeza and Mepsevii.