Ultragenyx Pharmaceutical Faces Securities Class Action Lawsuit

Faruqi & Faruqi, LLP Reminds Investors of Upcoming Deadline to Seek Lead Plaintiff Role

Published on Feb. 16, 2026

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Faruqi & Faruqi, LLP, a national securities law firm, is investigating potential claims against Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) and reminds investors of the April 6, 2026 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the company. The lawsuit alleges that Ultragenyx made false and/or misleading statements and failed to disclose information about the effects of its drug setrusumab on patients with Osteogenesis Imperfecta (OI) and the risks associated with its Phase III Orbit study.

Why it matters

The lawsuit against Ultragenyx highlights the importance of transparency and accurate disclosures in the pharmaceutical industry, especially for companies conducting clinical trials for new drugs. Investors rely on this information to make informed decisions, and any alleged misleading statements or omissions can have significant financial consequences.

The details

The complaint alleges that Ultragenyx created a false impression that it possessed reliable information about the effects of setrusumab on OI patients, while minimizing the risk that patients in the Phase III Orbit study would fail to achieve a statistically significant reduction in annualized fracture rate (AFR). In reality, Ultragenyx's optimism about the Orbit study's results was misplaced, as the company failed to convey the risk associated with basing the interim analysis benchmark on Phase II results that had no placebo control group for appropriate comparison.

  • On July 9, 2025, Ultragenyx revealed that the Phase III Orbit study failed to achieve statistical significance for the second interim analysis.
  • On December 29, 2025, Ultragenyx announced that both its Phase III Orbit and Cosmic Studies had not achieved statistical significance against the primary endpoints.

The players

Ultragenyx Pharmaceutical Inc.

A biopharmaceutical company focused on developing and commercializing novel products for the treatment of rare and ultra-rare genetic diseases.

Faruqi & Faruqi, LLP

A leading national securities law firm that is investigating potential claims against Ultragenyx and reminds investors of the upcoming deadline to seek the role of lead plaintiff in the class action lawsuit.

James (Josh) Wilson

A securities litigation partner at Faruqi & Faruqi, LLP who is encouraging investors who suffered losses in Ultragenyx to contact him directly to discuss their options.

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What they’re saying

“If you purchased or acquired securities in Ultragenyx between August 3, 2023 and December 26, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).”

— James (Josh) Wilson, Securities Litigation Partner, Faruqi & Faruqi, LLP

What’s next

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The takeaway

This case highlights the importance of transparency and accurate disclosures in the pharmaceutical industry, as investors rely on this information to make informed decisions. The lawsuit against Ultragenyx alleges that the company misled investors about the potential success of its drug setrusumab, which ultimately led to significant financial losses for shareholders.