Ultragenyx Pharmaceutical Inc

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

RARE$16.14-1.6%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
Operating activities:
Net loss	$(606,639)	$(707,421)	$(454,025)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	135,227	130,377	104,952
Acquired in-process research and development	—	75,033	—
Amortization of premium (discount) on marketable debt securities, net	(12,842)	2,699	6,606
Depreciation and amortization	26,006	18,220	13,239
Change in fair value of equity investments	(397)	19,299	42,063
Non-cash collaboration royalty revenue	(69,364)	(21,692)	(17,951)
Non-cash interest expense on liabilities for sales of future royalties	66,004	43,015	29,422
Other	2,300	(230)	235
Changes in operating assets and liabilities:
Accounts receivable	(22,778)	(12,068)	(5,432)
Inventory	(6,930)	(9,701)	(3,117)
Other assets	15,325	3,798	(29,508)
Accounts payable, accrued, and other liabilities	2,380	87,442	32,313
Contract liabilities, net	(1,479)	(7,597)	(57,492)
Deferred tax liabilities	(1,619)	(1,639)	—
Net cash used in operating activities	(474,806)	(380,465)	(338,695)
Investing activities:
Purchase of property, plant, and equipment	(44,267)	(116,123)	(73,093)
Acquisition, net of cash acquired	—	(75,025)	—
Purchase of marketable debt securities	(526,382)	(614,735)	(1,012,187)
Proceeds from sale of marketable debt securities	50,672	84,275	92,896
Proceeds from sale of equity investments	—	10,094	79,843
Proceeds from maturities of marketable debt securities	695,525	450,706	718,111
Payment for intangible asset	(2,500)	(30,000)	—
Other	(5,048)	(844)	(942)
Net cash provided by (used in) investing activities	168,000	(291,652)	(195,372)
Financing activities:
Proceeds from the sale of future royalties, net	—	490,950	—
Proceeds from the issuance of common stock and pre-funded warrants in connection with underwritten public offerings, net of issuance costs	326,456	—	—
Proceeds from the issuance of common stock in connection with at-the-market offering, net of issuances costs	53,299	—	78,943
Proceeds from the issuance of common stock from exercise of warrants and equity plan awards, net	8,415	10,813	40,101
Other	(28)	(555)	(492)
Net cash provided by financing activities	388,142	501,208	118,552
Effect of exchange rate changes on cash	462	(1,075)	(1,194)
Net increase (decrease) in cash, cash equivalents, and restricted cash	81,798	(171,984)	(416,709)
Cash, cash equivalents, and restricted cash at beginning of year	137,601	309,585	726,294
Cash, cash equivalents, and restricted cash at end of year	$219,399	$137,601	$309,585

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
Supplemental disclosures of non-cash investing and financing information:
Acquired lease liabilities arising from obtaining right-of-use assets and property, plant, and equipment	$22,162	$1,168	$3,142
Costs of property, plant and equipment included in accounts payable, accrued, and other liabilities	$1,577	$17,963	$18,993
Non-cash interest expense on liabilities for sales of future royalties capitalized during the year into ending property, plant and equipment	$9,431	$11,380	$4,650

Notes to Consolidated Financial Statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.