Ultragenyx to cut 20% of staff and halve R&D budget as it pivots to commercial sales

Ultragenyx announced it will reduce its workforce by about 20%, bringing headcount down to roughly 1,000 employees.

The cuts follow an earlier 10% reduction announced in February and are part of a plan to slash the company's annual R&D spending to about half of the $350 million level planned for 2025.

The company said most of the remaining R&D budget will support its six marketed products, including monitoring programs and regulatory filings, as it seeks profitability by 2027.

The reductions also include a smaller real estate footprint and a shift away from early stage research after recent setbacks trimmed its investigational pipeline.