Ultragenyx received a Complete Response Letter from the FDA regarding its UX111 therapy for Sanfilippo syndrome type A, citing manufacturing observations.
Quiver AI Summary
Ultragenyx Pharmaceutical Inc. announced that the FDA has issued a Complete Response Letter (CRL) for its Biologics License Application (BLA) for the AAV gene therapy UX111 (ABO-102) intended for treating Sanfilippo syndrome type A. The CRL primarily highlighted specific chemistry, manufacturing, and controls (CMC) concerns, although FDA clinical reviews recognized that the clinical and biomarker data supporting the application are robust. CEO Emil D. Kakkis stated that the company is addressing the manufacturing issues raised and aims to resubmit the BLA promptly, with an anticipated resolution timeline of several months. The therapy is designed to correct the SGSH enzyme deficiency causing MPS IIIA, a severe neurological condition with currently no approved treatments.
Potential Positives
- The FDA's Complete Response Letter (CRL) specifies that the chemistry, manufacturing, and controls (CMC) observations are resolvable, indicating a clear path forward for addressing regulatory concerns.
- Clinical reviews from the FDA acknowledged the robustness of the clinical data and supportive biomarker evidence, which could enhance the credibility of UX111 upon resubmission.
- Ultragenyx's commitment to promptly address the CMC observations demonstrates the company's urgency and dedication to providing a treatment for patients with Sanfilippo syndrome type A.
Potential Negatives
- The issuance of a Complete Response Letter (CRL) indicates that the FDA found deficiencies in the application, which could negatively impact the company's reputation and the perceived viability of UX111.
- The CRL will delay the potential approval of UX111 until 2026, which could hinder the company's timelines and market entry for a critical treatment in a competitive space.
- Addressing the CMC-related observations may require additional resources and time, potentially affecting the company’s operations and financial stability during the resolution period.
FAQ
What is a Complete Response Letter (CRL) from the FDA?
A CRL is issued by the FDA when a drug application cannot be approved in its current form, citing specific issues.
What issues did the FDA highlight in the CRL for UX111?
The CRL cited chemistry, manufacturing, and controls (CMC) related observations that require additional information and improvements.
What is UX111 and its purpose?
UX111 is an AAV gene therapy for treating Sanfilippo syndrome type A, a rare genetic disorder affecting brain function.
How soon does Ultragenyx plan to resubmit the BLA?
Ultragenyx aims to resolve the CMC observations and resubmit the BLA as soon as possible, anticipating up to a 6-month review period.
What designations has UX111 received during its development?
UX111 has received several designations, including Regenerative Medicine Advanced Therapy and Orphan Drug designations in the U.S. and EU.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RARE Insider Trading Activity
$RARE insiders have traded $RARE stock on the open market 14 times in the past 6 months. Of those trades, 0 have been purchases and 14 have been sales.
Here’s a breakdown of recent trading of $RARE stock by insiders over the last 6 months:
- EMIL D KAKKIS (President & CEO) has made 0 purchases and 2 sales selling 98,434 shares for an estimated $4,153,571.
- KARAH HERDMAN PARSCHAUER (EVP and Chief Legal Officer) has made 0 purchases and 3 sales selling 15,836 shares for an estimated $669,040.
- ERIK HARRIS (EVP & Chief Commercial Officer) sold 15,103 shares for an estimated $635,836
- JOHN RICHARD PINION (See Remarks) sold 14,439 shares for an estimated $607,881
- ERIC CROMBEZ (EVP and Chief Medical Officer) has made 0 purchases and 3 sales selling 9,707 shares for an estimated $405,485.
- THOMAS RICHARD KASSBERG (CBO & EVP) sold 6,028 shares for an estimated $253,778
- CORAZON (CORSEE) D. SANDERS sold 2,405 shares for an estimated $89,922
- HOWARD HORN (Chief Financial Officer) sold 1,785 shares for an estimated $72,114
- THEODORE ALAN HUIZENGA (SVP, Chief Accounting Officer) sold 967 shares for an estimated $40,710
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RARE Hedge Fund Activity
We have seen 150 institutional investors add shares of $RARE stock to their portfolio, and 141 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VESTAL POINT CAPITAL, LP removed 1,000,000 shares (-66.7%) from their portfolio in Q1 2025, for an estimated $36,210,000
- ADAGE CAPITAL PARTNERS GP, L.L.C. added 965,919 shares (+81.6%) to their portfolio in Q1 2025, for an estimated $34,975,926
- ASSENAGON ASSET MANAGEMENT S.A. added 947,865 shares (+439.0%) to their portfolio in Q2 2025, for an estimated $34,464,371
- SUVRETTA CAPITAL MANAGEMENT, LLC added 873,186 shares (+75.8%) to their portfolio in Q1 2025, for an estimated $31,618,065
- MARSHALL WACE, LLP removed 717,495 shares (-68.2%) from their portfolio in Q1 2025, for an estimated $25,980,493
- PRICE T ROWE ASSOCIATES INC /MD/ added 706,519 shares (+28.1%) to their portfolio in Q1 2025, for an estimated $25,583,052
- DEEP TRACK CAPITAL, LP added 696,487 shares (+106.6%) to their portfolio in Q1 2025, for an estimated $25,219,794
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$RARE Analyst Ratings
Wall Street analysts have issued reports on $RARE in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Guggenheim issued a "Buy" rating on 06/20/2025
- William Blair issued a "Outperform" rating on 05/28/2025
- Morgan Stanley issued a "Overweight" rating on 05/09/2025
- JP Morgan issued a "Overweight" rating on 03/27/2025
- Piper Sandler issued a "Overweight" rating on 03/17/2025
- Cantor Fitzgerald issued a "Overweight" rating on 02/26/2025
- Canaccord Genuity issued a "Buy" rating on 02/18/2025
To track analyst ratings and price targets for $RARE, check out Quiver Quantitative's $RARE forecast page.
$RARE Price Targets
Multiple analysts have issued price targets for $RARE recently. We have seen 11 analysts offer price targets for $RARE in the last 6 months, with a median target of $95.0.
Here are some recent targets:
- Tiago Fauth from Wells Fargo set a target price of $65.0 on 07/10/2025
- Debjit Chattopadhyay from Guggenheim set a target price of $64.0 on 06/20/2025
- Sami Corwin from William Blair set a target price of $65.0 on 05/28/2025
- Jeffrey Hung from Morgan Stanley set a target price of $65.0 on 05/09/2025
- Anupam Rama from JP Morgan set a target price of $117.0 on 03/27/2025
- Allison Bratzel from Piper Sandler set a target price of $115.0 on 03/17/2025
- Kristen Kluska from Cantor Fitzgerald set a target price of $118.0 on 02/26/2025
Full Release
Complete Response Letter (CRL) cited specific chemistry, manufacturing and controls (CMC) related observations that are resolvable
FDA clinical reviews acknowledged that the clinical data are robust and biomarker data are supportive
NOVATO, Calif., July 11, 2025 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), today announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) for its Biologics License Application (BLA) for UX111 (ABO-102) AAV gene therapy as a treatment for patients with Sanfilippo syndrome type A (MPS IIIA).
“Our goal is to get UX111 to patients as quickly as possible knowing how critical this first therapy is to the Sanfilippo community. We have been diligently responding to the recent CMC observations and our priority is to resolve them so that we can resubmit the BLA as soon as possible,” said Emil D. Kakkis, M.D., Ph.D., chief executive officer and president of Ultragenyx. “We believe the CMC observations are readily addressable and many have already been addressed. While the CRL will delay the potential approval of UX111 to 2026, we are working with urgency to respond and resubmit.”
In the CRL, the FDA requested that the company provide additional information and improvements related to specific aspects of CMC and observations from the recently completed manufacturing facility inspections. The company believes that these observations are readily addressable, related to facilities and processes, and are not directly related to the quality of the product. The company will be working with the FDA over the next few months to resolve the observations. Once resolution is achieved, the company expects to resubmit the BLA and anticipates up to a 6-month review period to follow the resubmission.
Clinical review had been ongoing and the FDA has acknowledged that the neurodevelopmental outcome data provided to date are robust and the biomarker data provide additional supportive evidence. The CRL did not note any review issues related to the clinical data package nor clinical inspections, and asked that updated clinical data from current patients be included in the resubmission.
About UX111
UX111 is a novel in vivo gene therapy in Phase 1/2/3 development for Sanfilippo syndrome type A (MPS IIIA), a rare fatal lysosomal storage disease with no approved treatment that primarily affects the brain. The therapy is designed to address the underlying SGSH enzyme deficiency responsible for abnormal accumulation of heparan sulfate, a glycosaminoglycan, in the brain that results in progressive cell damage and neurodegeneration. UX111 is dosed in a one-time intravenous infusion using a self-complementary AAV9 vector to deliver a functional copy of the SGSH gene to cells. These transduced cells then produce the enzyme and secrete it to be taken up by other brain cells, cross-correcting the enzyme deficiency. The product was originally developed by Abeona Therapeutics and transferred to Ultragenyx to complete development. The UX111 program has received Regenerative Medicine Advanced Therapy, Fast Track, Rare Pediatric Disease, and Orphan Drug designations in the U.S., and PRIME and Orphan medicinal product designations in the EU. If approved, the product will be commercialized with Ultragenyx’s existing metabolic disease team seeing the same biochemical genetics doctors.
About Sanfilippo Syndrome Type A (MPS IIIA)
Sanfilippo syndrome type A (MPS IIIA) is a rare, fatal lysosomal storage disease with no approved treatment that primarily affects the brain and is characterized by rapid neurodegeneration, with onset in early childhood. Children with MPS IIIA present with global developmental delay which eventually leads to progressive cognitive, language and motor decline, behavioral abnormalities and early death. MPS IIIA is estimated to affect approximately 3,000 to 5,000 patients in commercially accessible geographies with a median life expectancy of 15 years. MPS IIIA is caused by biallelic pathogenic variants in the
SGSH
gene that lead to a deficiency in the sulfamidase (SGSH) enzyme responsible for breaking down heparan sulfate, a glycosaminoglycans, which accumulate in cells throughout the body resulting in the observed rapid neurodegeneration that is associated with the disorder.
About Ultragenyx
Ultragenyx is a biopharmaceutical company committed to bringing novel therapies to patients for the treatment of serious rare and ultra-rare genetic diseases. The company has built a diverse portfolio of approved medicines and treatment candidates aimed at addressing diseases with high unmet medical need and clear biology, for which there are typically no approved therapies treating the underlying disease.
The company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx’s strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.
For more information on Ultragenyx, please visit the company's website at: www.ultragenyx.com .
Forward-Looking Statements and Use of Digital Media
Except for the historical information contained herein, the matters set forth in this press release, including statements related to Ultragenyx's ability to provide the requested documentation and address the comments in the CRL to the satisfaction of the FDA, the development, timing and progress of UX111, including the timing of resubmission of the BLA and the timing of FDA review of any such resubmission, the timing and outcome of any FDA inspections related to UX111, the timing of future regulatory interactions related to UX111, including the potential Type A meeting, the outcome of any BLA resubmission, business plans and objectives for UX111, expectations regarding the tolerability and safety of UX111, and future clinical and regulatory developments for UX111 are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development programs, collaboration with third parties, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainty of clinical drug development and unpredictability and lengthy process for obtaining regulatory approvals, the ability of the company to successfully develop UX111, the company’s ability to achieve its projected development goals in its expected timeframes, risks related to adverse side effects, risks related to reliance on third party partners to conduct certain activities on the company’s behalf, smaller than anticipated market opportunities for the company’s products and product candidates, manufacturing risks, our limited experience in operating our own manufacturing facility, the ability of the company and its third party manufacturers to comply with regulatory requirements, competition from other therapies or products, and other matters that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations, the company’s future operating results and financial performance, the timing of clinical trial activities and reporting results from same, and the availability or commercial potential of Ultragenyx’s products and drug candidates. Ultragenyx undertakes no obligation to update or revise any forward-looking statements.
For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Ultragenyx in general, see Ultragenyx's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on May 7, 2025, and its subsequent periodic reports filed with the SEC.
In addition to its SEC filings, press releases and public conference calls, Ultragenyx uses its investor relations website and social media outlets to publish important information about the company, including information that may be deemed material to investors, and to comply with its disclosure obligations under Regulation FD. Financial and other information about Ultragenyx is routinely posted and is accessible on Ultragenyx’s Investor Relations website ( https://ir.ultragenyx.com/ ) and LinkedIn website ( https://www.linkedin.com/company/ultragenyx-pharmaceutical-inc-/ ).
Ultragenyx Contacts
Investors
Joshua Higa
+1-415-475-6370
[email protected]
Media
Joey Fleury
[email protected]