Ultragenyx stock edges up after a sharp earlier drop

Ultragenyx shares climbed about 15.5% after a steep fall the day before. Two Phase 3 trials of setrusumab missed their main goal, though the studies showed gains in bone mineral density.

Ultragenyx shares rose on Tuesday after a sharp decline the day before tied to clinical trial news. Investors bought stock following the previous day's heavy selling. The company reported that two Phase 3 trials of setrusumab did not meet their primary goal of lowering annual clinical fracture rate. The trials did show improvements in bone mineral density as secondary outcomes. What was reported: - Ultragenyx stock rose about 15.52% on Tuesday and closed near $22.78. - The prior trading day saw a roughly 46% drop in the stock. - Two Phase 3 trials of setrusumab were reported as not meeting their primary fracture endpoint. - Both trials achieved secondary improvements in bone mineral density versus comparators. - The company said it will perform additional analyses and review other clinical and bone-health endpoints. Summary: The market saw a rebound but the development program remains uncertain. You may want to watch for the company’s upcoming analysis and further updates on program milestones.