Ultragenyx Cuts Jobs, Misses 2026 Revenue Forecast

Rare disease drugmaker lays off 10% of workforce as guidance trails analyst estimates

Published on Feb. 13, 2026

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Ultragenyx Pharmaceutical (RARE) stock fell around 13% after the company reported Q4 2025 results and provided 2026 revenue guidance that missed analyst consensus. The Novato, California-based biotech projected $730 million to $760 million in revenue for 2026, while also announcing plans to lay off 10% of its workforce.

Why it matters

Ultragenyx's weaker-than-expected guidance and job cuts signal challenges the rare disease drugmaker is facing, potentially impacting its ability to develop and commercialize treatments for rare genetic diseases. The news also raises concerns about the broader rare disease drug market.

The details

Ultragenyx set its 2026 revenue outlook below the $780 million consensus estimate as it navigates a difficult operating environment. The company plans to lay off 10% of its workforce as part of a restructuring effort to align its resources with its strategic priorities.

  • Ultragenyx reported Q4 2025 financial results on February 13, 2026.

The players

Ultragenyx Pharmaceutical

A Novato, California-based biotech company focused on developing treatments for rare and ultra-rare genetic diseases.

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The takeaway

Ultragenyx's struggles highlight the challenges facing rare disease drugmakers as they navigate a complex regulatory environment and competitive landscape. The company's job cuts and weaker guidance suggest it may need to rethink its strategy to better position itself for long-term success in the rare disease market.