Ultragenyx Announces Departure of Chief Financial Officer

Rhea-AI Summary

Ultragenyx Pharmaceutical (NASDAQ: RARE) announced that CFO Mardi Dier will leave the company on November 15, 2022, for a new role at ACELYRIN, INC. Ted Huizenga and Aaron Olsen will manage finance activities during the search for Dier's successor. CEO Emil Kakkis praised Dier's contributions over her two-plus years at Ultragenyx, highlighting the company's fiscal responsibility heading into 2023. Ultragenyx focuses on developing novel therapies for rare genetic diseases, aiming to provide safe and effective treatments.

Positive

• Company demonstrates fiscal responsibility amid leadership change.
• Strong management team experienced in rare disease therapeutics.

Negative

• Leadership transition may introduce uncertainty during the succession period.

NOVATO, Calif., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) announced that Mardi Dier, Chief Financial Officer (CFO) and Executive Vice President, is leaving the company, effective November 15, 2022, to assume the dual role of CFO and Chief Business Development Officer at privately held ACELYRIN, INC. Ted Huizenga, Chief Accounting Officer, and Aaron Olsen, Senior Vice President of Corporate Strategy and Finance, will lead ongoing finance activities during the search for a successor.

“Mardi has been a valuable partner over the past two-plus years, helping me to ensure we are well capitalized with a foundation of fiscal responsibility as we head into 2023,” said Emil D. Kakkis, M.D., Ph.D., Chief Executive Officer and President of Ultragenyx. “Mardi will remain available to our team through the end of the year as we identify the right leader for this function.”

About Ultragenyx Pharmaceutical Inc.

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.

Ultragenyx 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 expectations and projections regarding its operations 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 the company’s future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. 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 on November 3, 2022, and its subsequent periodic reports filed with the Securities and Exchange Commission.

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-/mycompany/).

Contacts
Ultragenyx Pharmaceutical, Inc.
Investors
Joshua Higa
415-475-6370
IR@ultragenyx.com

Media
Jeff Blake
415-612-7784
media@ultragenyx.com

FAQ

What leadership changes are happening at Ultragenyx Pharmaceutical (RARE)?

CFO Mardi Dier is leaving her position on November 15, 2022, to join ACELYRIN, INC.

Who will manage finance at Ultragenyx Pharmaceutical after Mardi Dier's departure?

Ted Huizenga and Aaron Olsen will lead finance activities during the search for Dier's successor.

What is Ultragenyx Pharmaceutical's focus in the biopharmaceutical industry?

Ultragenyx is committed to developing therapies for rare and ultra-rare genetic diseases.

How long has Mardi Dier been with Ultragenyx Pharmaceutical?

Mardi Dier has been with Ultragenyx for over two years.

What are the implications of Mardi Dier's departure for Ultragenyx Pharmaceutical (RARE)?

Her departure may introduce uncertainty during the leadership transition.