Ultragenyx (RARE) to Divest FDA Priority Review Voucher for $203 Million in Cash

Key numbers

Deal value	$203M
Share of market cap	13.8%
Share of annual revenue	30.2%

Key highlights

• Divestiture of Rare Pediatric Disease Priority Review Voucher for $203.0 million cash
• Asset recently awarded following FDA approval of FAYUVI (UX111) on September 17, 2026
• Transaction subject to Hart-Scott-Rodino Act antitrust clearance
• Proceeds provide non-dilutive capital as company targets 2027 profitability
• Company maintains full-year 2026 revenue guidance of $730 million to $760 million

What Is Being Divested?

Ultragenyx is selling a Rare Pediatric Disease Priority Review Voucher (PRV) earned on September 17, 2026. This incentive was granted by the U.S. Food and Drug Administration upon the marketing approval of FAYUVI (rebisufligene etisparvovec-hopf), a treatment for pediatric patients with Sanfilippo syndrome Type A. The transaction involves a cash payment of $203 million from an undisclosed buyer. Completion of the sale is subject to standard closing conditions, notably the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. This follows a similar divestiture earlier in October 2026 involving a separate $210 million voucher sale.

Strategic and Financial Impact

• The $203 million cash proceeds provide significant non-dilutive capital to support clinical development
• Company remains on track to achieve corporate profitability goals in 2027
• Full-year 2026 revenue guidance reaffirmed at $730 million to $760 million
• Combined R&D and SG&A expenses for 2026 expected to be flat to slightly down versus 2025
• Strengthens balance sheet ahead of the Q3 earnings release scheduled for November 4, 2026

Continuing Operations and Pipeline

Following the divestiture, Ultragenyx continues to focus on its portfolio of therapies for rare and ultra-rare diseases. The company's commercial engine is primarily driven by Crysvita, which is projected to generate between $500 million and $520 million in 2026 revenue, and Dojolvi, with a revenue target of $100 million to $110 million. Beyond these, the approval of FAYUVI marks a milestone in the company’s gene therapy pipeline. Technical indicators currently show a Relative Strength Index of 39.8, while the market capitalization stands at approximately $1.47 billion following a quarterly price contraction of 55.88%.

Up 9.6% over the last month ($13.61 on 14 Sep → $14.92 on 13 Oct). Daily closing prices. Source: Yahoo Finance.

Show the prices

14 Sep	$13.61
15 Sep	$13.07
16 Sep	$12.88
17 Sep	$14.50
18 Sep	$14.51
21 Sep	$14.65
22 Sep	$15.62
23 Sep	$14.88
24 Sep	$14.77
25 Sep	$14.50
28 Sep	$14.41
29 Sep	$15.32
30 Sep	$15.03
1 Oct	$14.75
2 Oct	$15.22
5 Oct	$14.50
6 Oct	$14.46
7 Oct	$14.89
8 Oct	$15.29
9 Oct	$15.48
12 Oct	$15.30
13 Oct	$14.92

Sector Trends in PRV Monetization

The sale of priority review vouchers has become a standard mechanism for biotechnology firms to monetize regulatory achievements and fund research. These vouchers allow the holder to accelerate the FDA review period for a future drug candidate, typically shortening the timeline from ten months to six months. For developers like Ultragenyx, selling these assets to larger pharmaceutical entities provides a predictable cash influx without equity dilution. This trend is prominent in the rare disease sector, where the FDA incentivizes treatments for pediatric conditions that might otherwise lack commercial viability due to small patient populations.

Ultragenyx Pharmaceutical Inc. · financial snapshot

Share price	$14.92
Market cap	$1.5B
Revenue (annual)	$673M
1-month price change	+4.34%
Sector	HealthcareBiotechnology

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.