Ultragenyx (RARE) began trading on the NASDAQ on 31 January 2014

NEW YORK (AP) -- Shares of Ultragenyx have more than doubled in their trading debut after the drug developer's initial public offering raised $121 million.

The Novato, Calif., company is developing several possible treatments for rare or extremely rare diseases, including Sly Syndrome, a cellular and organ dysfunction that typically leads to death by early adulthood.

Ultragenyx Pharmaceutical Inc. sold 5.8 million shares at $21 each, well above its mid-January forecast of 4.8 million shares going for $14 to $17.

The stock climbed $24 to $45 per share in midday trading Friday.

Two other drug developers debuted on the public market Friday: Trevena Inc., which raised about $64.8 million, and Cara Therapeutics Inc. in a $55 million IPO.

3 weeks after IPO

Address

60 Leveroni Court
NOVATO, CA 94949
United States 

Website 

http://www.ultragenyx.com

Ultragenyx Pharmaceutical Inc., a development-stage biotechnology company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare diseases in the United States. It develops various biologics product candidates, including KRN23, a human monoclonal antibody to bind and reduce the biological activity of fibroblast growth factor to enhance abnormally low phosphate levels in patients with X-linked hypophosphatemia; recombinant human beta-glucuronidase, an intravenous enzyme replacement therapy for the treatment of mucopolysaccharidosis 7; and recombinant human protective protein cathepsin-A, an enzyme replacement therapy for galactosialidosis. The company is also developing a range of small-molecule product candidates comprising triheptanoin, a substrate replacement therapy for patients with fatty acid oxidation disorders, as well as for patients with glucose transporter type-1 deficiency syndrome; and oral formulation of sialic acid to treat hereditary inclusion body myopathy. It has license agreements with AAI Pharma Services Corp. and HIBM Research Group; and a collaboration and license agreement with Nobelpharma Co., Ltd.
The company was founded in 2010 and is headquartered in Novato, California.