ARCT - Ultragenyx Pharmaceutical: Gearing Up For FDA Approvals And Data Readouts
Investment Thesis
Notwithstanding two commercialized products and a rich pipeline, the twelve-month share price decline for Ultragenyx Pharmaceutical Inc. (RARE) had approached ~6.5% by early 2020 compared to ~12.0% LTM (last-twelve-month) gain in the NBI (NASDAQ Biotechnology Index). With the release of positive data from an early-stage trial this month, the stock climbed ~23.4% on a single day, highlighting the impact of catalysts on the bio-pharma stocks. Currently, the stock is up ~15.8% for the LTM period, outperforming ~10.7% gain in the NBI. With two potential FDA approvals and a series of data