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URGN

UroGen Pharma Ltd.

URGN

UroGen Pharma Ltd. • NASDAQ
$28.81 ▼ -2.07% (-0.61)
Market Cap $1.35 B
52w High $30.00
52w Low $3.42
Dividend Yield 0%
P/E -8.3
Volume 379.78K
Outstanding Shares 46.81M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $27.482M ▲ $51.59M ▲ $-33.347M ▼ -121.341% ▼ $-0.69 ▲ $-25.768M ▼
Q2-2025 $0 ▼ $0 ▼ $0 ▲ 0% ▲ $-1.05 ▼ $0 ▲
Q1-2025 $20.254M ▼ $54.838M ▲ $-43.843M ▼ -216.466% ▼ $-0.92 ▼ $-38.886M ▼
Q4-2024 $24.565M ▼ $49.752M ▲ $-37.512M ▼ -152.705% ▼ $-0.8 ▼ $-26.49M ▼
Q3-2024 $25.204M $40.296M $-23.673M -93.926% $-0.55 $-14.68M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $127.033M ▼ $185.046M ▼ $300.454M ▼ $-115.408M ▼
Q2-2025 $156.954M ▼ $208.717M ▼ $302.093M ▲ $-93.376M ▼
Q1-2025 $195.89M ▼ $247.618M ▼ $294.076M ▼ $-46.458M ▼
Q4-2024 $236.685M ▼ $285.711M ▼ $294.514M ▲ $-8.803M ▼
Q3-2024 $249.575M $301.943M $276.428M $25.515M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-33.347M ▲ $-42.27M ▼ $31.398M ▲ $8.272M ▲ $-2.6M ▲ $-42.357M ▼
Q2-2025 $-49.94M ▼ $-39.825M ▲ $28.406M ▲ $296K ▲ $-11.123M ▲ $-39.966M ▲
Q1-2025 $-43.843M ▼ $-42.024M ▼ $-25.963M ▼ $34K ▼ $-67.953M ▼ $-42.068M ▼
Q4-2024 $-37.512M ▼ $-13.619M ▲ $60.621M ▲ $71K ▼ $47.074M ▲ $-13.734M ▲
Q3-2024 $-23.673M $-27.664M $-106.75M $39.606M $-94.808M $-27.76M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Jelmyto
Jelmyto
 $50.00M ▲$20.00M ▼$20.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement UroGen is still in an early commercial stage: revenue is small but has been climbing steadily each year as its products gain traction. The company’s core problem remains scale – product sales are not yet large enough to cover its operating costs. Gross margins look healthy for a biotech with proprietary products, but research, clinical development, and commercial build‑out keep total expenses high. As a result, operating losses and net losses have been consistent for several years, even though the loss per share has been gradually shrinking over time. This pattern is typical of a young biotech transitioning from pure R&D to commercialization, but it does mean profitability is still some distance away and depends on further revenue ramp‑up and cost discipline.

Balance Sheet

Balance Sheet The balance sheet shows a company that has strengthened its resource base but still carries some structural weakness. Cash and total assets have grown meaningfully in the most recent year, giving UroGen more room to fund operations and its pipeline. However, the company has taken on debt, and shareholder equity has been negative in recent years, reflecting cumulative losses and past financings. The most recent period shows equity moving closer to breakeven, which is a modest improvement, but the overall picture is still that of a company reliant on external capital to fund growth. Financial flexibility is better than it was a few years ago, yet not fully comfortable or self‑sustaining.

Cash Flow

Cash Flow Cash flow remains clearly negative. The business is consistently consuming cash in its day‑to‑day operations, and since it has very limited capital spending needs, nearly all of the cash burn comes from funding R&D, clinical trials, and commercial infrastructure. Free cash flow trends show a persistent outflow at a fairly steady level over multiple years. This underlines that UroGen is not yet internally funded and must rely on cash on hand and access to capital markets or partnerships to keep progressing its programs until product sales can meaningfully offset expenses.

Competitive Edge

Competitive Edge UroGen occupies a focused niche within uro-oncology, with a meaningful first‑mover advantage. Its RTGel‑based products target patients who previously had few options beyond repeated surgeries or organ‑removing procedures, creating a strong value proposition for both patients and physicians. Being first and only in specific indications provides differentiation and helps build deep relationships with urologists. Patent protection on the drug delivery platform and next‑generation products extends well into the next decade, making it harder for direct competitors to offer similar local, non‑surgical therapies. The main competitive risks are not from identical products today, but from evolving surgical techniques, alternative systemic therapies, and newer entrants that may seek to replicate or bypass RTGel’s advantage over time.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of UroGen’s strategy. The RTGel platform is a distinctive technology that turns liquid drugs into a gel at body temperature, allowing medicines to stay in contact with tumors longer and potentially work better with fewer systemic side effects. The company is building multiple layers on top of this: currently approved products that redefine standards of care in specific bladder and upper tract cancers, next‑generation formulations designed to improve manufacturing and convenience, and a pipeline that extends into immuno‑oncology and oncolytic viruses. This approach deepens the moat around RTGel, opens possibilities beyond the initial indications, and stretches patent life. The flip side is that this innovation engine is expensive to run and inherently risky, with regulatory, clinical, and commercial uncertainties at each step.

Summary

Overall, UroGen looks like a classic high‑risk, high‑potential biotech story in the midst of a crucial transition. On the one hand, it has moved beyond a pure development stage, with growing revenue from first‑in‑class, non‑surgical cancer treatments and a technology platform that could support a family of related products. On the other hand, the company is still loss‑making, burns cash, and carries a balance sheet that reflects years of investment rather than accumulated profits. The key swing factors going forward are the pace at which existing products penetrate their target markets, the success and timing of next‑generation and pipeline programs, and the company’s ability to manage costs and funding needs while it scales. The narrative is promising but still execution‑dependent, with both notable scientific upside and financial risk intertwined.

NEWS

November 25, 2025 · 8:00 AM UTC

UroGen Pharma to Present at the Piper Sandler 37th Annual Healthcare Conference

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November 6, 2025 · 8:00 AM UTC

UroGen Reports Third Quarter 2025 Financial Results as ZUSDURI™ Launch Gains Momentum

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November 6, 2025 · 7:58 AM UTC

UroGen Reports 77.8% Three-Month Complete Response Rate from Phase 3 UTOPIA Trial of UGN-103 and Receives FDA Agreement on NDA Submission Strategy in Recurrent LG-IR-NMIBC Based on UTOPIA Trial

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November 4, 2025 · 8:00 AM UTC

UroGen Pharma to Present at Guggenheim Securities Healthcare Innovation Conference

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October 30, 2025 · 8:00 AM UTC

UroGen Pharma to Report Third Quarter 2025 Financial Results on Thursday, November 6th, 2025

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