Rare Disease Drug Developer Ultragenyx Pharmaceuticals Jumps Toward $86 Million IPO

Capitalizing on two hot trends — rare disease drug development and Wall Street's resurgent interest in biotech companies — Ultragenyx Pharmaceutical Inc. filed plans Friday to raise $86.25 million through an initial public offering. The Novato company, which snagged the NASDAQ ticker symbol "RARE," has moved quickly in the so-called orphan disease space, which has garnered lots of attention over the past few years from Big Pharma and other investors. What's more, its IPO seizes on investors interest in life sciences stocks in general.

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