NOVATO, Calif. (AP) _ Ultragenyx Pharmaceutical Inc. (RARE) on Wednesday reported a loss of $119 million in its first quarter.
On a per-share basis, the Novato, California-based company said it had a loss of $2.05. Losses, adjusted for non-recurring costs, were $2.04 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.60 per share.
The biotechnology company posted revenue of $36.3 million in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $37.7 million.
Ultragenyx expects full-year revenue in the range of $125 million to $140 million.
Ultragenyx shares have climbed 55% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $66.26, a drop of 1.5% in the last 12 months.