Ultragenyx cuts 20% of workforce and abandons Wilson disease gene therapy after mixed Q3 results

Ultragenyx said it will cut about 20% of its workforce, marking a second round of layoffs this year. The reductions will affect roughly a fifth of the company's employees.

At the same time, the firm announced it is terminating development of its Wilson disease gene-therapy candidate, ending the program entirely.

The actions follow a volatile third quarter in which Ultragenyx earned two FDA approvals but also suffered a major setback in its Angelman syndrome trial.

The combined setbacks and restructuring underscore the challenges the biotech faces as it pursues multiple rare-disease programs.