Urogen Pharma (URGN)
NASDAQ:URGN
Top Page
Urogen Pharma
(NASDAQ:URGN)
Select Model
Select Model
Rating:49Neutral
Price Target:
$21.00
▼(-2.37% Downside)
Action:ReiteratedDate:03/03/26
The score is held down primarily by weak financial fundamentals (large losses, negative equity, and heavy cash burn) and soft technical momentum. Offsetting this, the latest earnings call highlighted improving commercial traction, encouraging clinical progress, and extended liquidity, but execution and funding risk remain central.
Positive Factors
Revenue Growth & High Gross Margins
Sustained top‑line acceleration and very high gross margins provide structural operating leverage: expanding revenue can flow quickly to the bottom line if fixed costs stabilize, supporting future profitability once R&D and launch costs normalize and volumes scale across products.
Negative Factors
Large Cash Burn
Heavy and growing negative operating and free cash flow imply ongoing reliance on external financing. This structural cash burn elevates refinancing and execution risk, and requires sustained commercial traction or additional capital to fund launches and Phase 3 programs without diluting shareholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & High Gross Margins
Sustained top‑line acceleration and very high gross margins provide structural operating leverage: expanding revenue can flow quickly to the bottom line if fixed costs stabilize, supporting future profitability once R&D and launch costs normalize and volumes scale across products.
Read all positive factors
Urogen Pharma (URGN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.05B
Dividend YieldN/A
Average Volume (3M)758.08K
Price to Earnings (P/E)―
Beta (1Y)0.98
Revenue Growth8.00%
EPS Growth-10.15%
CountryUS
Employees234
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.54
Shares Outstanding48,682,280
10 Day Avg. Volume634,936
30 Day Avg. Volume758,079
Financial Highlights & Ratios
PEG Ratio-0.94
Price to Book (P/B)-10.68
Price to Sales (P/S)10.26
P/FCF Ratio-6.92
Enterprise Value/Market Cap1.02
Enterprise Value/Revenue9.70
Enterprise Value/Gross Profit10.94
Enterprise Value/Ebitda-7.85
Forecast
1Y Price Target
$37.40Price Target Upside73.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.17
Revenue Forecast (FY)$244.52M
Urogen Pharma Business Overview & Revenue Model
Company Description
UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization novel solutions for specialty cancers and urothelial diseases. It offers RTGel, a polymeric biocompatible and reverse thermal gelation hydrogel to improv...
How the Company Makes Money
UroGen makes money primarily through sales of its approved product, JELMYTO. Revenue is generated when healthcare providers and treatment centers purchase JELMYTO for patient use; as a prescription oncology therapy, demand is driven by clinical ad...
Urogen Pharma Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful positive commercial and clinical momentum: a material ramp in revenue driven by Jelmyto and the Zasturi launch (21% total revenue growth in 2025), clear evidence of early adoption acceleration following a permanent J‑code, robust Phase 3 data for next‑generation programs (UGN‑103) with a defined regulatory path, and a refinancing that strengthens liquidity and extends runway. Offsetting these positives are a widening net loss, higher R&D and projected operating expenses in 2026, and continued uncertainty because no formal 2026 sales guidance for Zasturi was provided. On balance, the highlights — especially commercial acceleration, clinical success and improved balance sheet — outweigh the lowlights, but execution in 2026 will be critical to translate early momentum into durable financial improvement.Positive Updates
Zasturi Early Commercial Traction and Permanent J‑Code
Zasturi generated $15,800,000 in net product revenue in 2025 (Q3 $1.8M; Q4 $14.0M). Permanent, product‑specific J‑code became effective January 1, 2026, and management reported a clear acceleration in key launch indicators (new/repeat prescribers, patient enrollment forms, new patient starts) since that milestone.
Negative Updates
Widening Net Loss
Net loss for full year 2025 was $153,500,000 (loss per share $3.19) compared with a net loss of $126,900,000 ($2.96 per share) in 2024 — an increase in net loss of approximately 21% year‑over‑year.
Read all updates
Q4-2025 Updates
Positive
Negative
Zasturi Early Commercial Traction and Permanent J‑Code
Zasturi generated $15,800,000 in net product revenue in 2025 (Q3 $1.8M; Q4 $14.0M). Permanent, product‑specific J‑code became effective January 1, 2026, and management reported a clear acceleration in key launch indicators (new/repeat prescribers, patient enrollment forms, new patient starts) since that milestone.
Read all positive updates
Company Guidance
The company provided 2026 financial guidance calling for Jelmyto net product revenue of $97.0M–$101.0M (implying ~3%–7% growth vs. 2025’s $94.0M) and full‑year operating expenses of $240M–$250M, which include $20M–$24M of non‑cash share‑based compensation; management declined to give formal 2026 sales guidance for Zasturi (permanent J‑code effective 1/1/2026) but said it may consider doing so after at least two quarters of visibility post‑J‑code, noted conversion from PEF to dosing has historically been 45–60 days and should narrow toward a Jelmyto‑like 2–3 week timeline, reiterated Zasturi’s peak revenue potential of >$1B with an expected ~4‑year ramp to peak, and reported a year‑end cash balance of $120.5M alongside a refreshed $250M senior secured term loan facility ($200M funded at close, $50M undrawn through 6/30/2027) at a fixed 8.25% rate with principal repayments beginning in 2030.Urogen Pharma Financial Statement Overview
Summary
Income Statement
33
Negative
Balance Sheet
22
Negative
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 109.79M | 90.40M | 82.71M | 64.36M | 48.04M |
| Gross Profit | 97.34M | 81.52M | 73.35M | 56.70M | 42.88M |
| EBITDA | -135.66M | -95.35M | -60.35M | -76.21M | -91.46M |
| Net Income | -153.49M | -126.87M | -102.24M | -109.78M | -110.82M |
Balance Sheet | |||||
| Total Assets | 200.46M | 285.71M | 178.31M | 135.62M | 119.75M |
| Cash, Cash Equivalents and Short-Term Investments | 120.46M | 236.69M | 136.97M | 99.96M | 89.14M |
| Total Debt | 128.33M | 123.39M | 99.39M | 99.12M | 398.00K |
| Total Liabilities | 305.93M | 294.51M | 243.52M | 224.98M | 111.33M |
| Stockholders Equity | -105.47M | -8.80M | -65.21M | -89.36M | 8.41M |
Cash Flow | |||||
| Free Cash Flow | -162.73M | -97.06M | -76.57M | -87.81M | -85.64M |
| Operating Cash Flow | -162.44M | -96.77M | -76.38M | -87.56M | -84.89M |
| Investing Cash Flow | 61.56M | -20.61M | -953.00K | 1.06M | 4.07M |
| Financing Cash Flow | 39.92M | 194.62M | 116.93M | 97.13M | 72.32M |
Urogen Pharma Technical Analysis
Positive
21.51
Price Trends
19.68
Positive
21.26
Negative
19.82
Positive
Market Momentum
0.32
Negative
60.54
Neutral
78.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For URGN, the sentiment is Positive. The current price of 21.51 is above the 20-day moving average (MA) of 18.68, above the 50-day MA of 19.68, and above the 200-day MA of 19.82, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 60.54 is Neutral, neither overbought nor oversold. The STOCH value of 78.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for URGN.
Urogen Pharma Risk Analysis
Urogen Pharma disclosed 81 risk factors in its most recent earnings report. Urogen Pharma reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Urogen Pharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $1.27B | ― | -56.64% | ― | -36.36% | -945.72% | |
54 Neutral | $1.08B | -10.26 | -34.23% | ― | 522.13% | 62.68% | |
53 Neutral | $875.74M | -27.51 | -42.39% | ― | 116.64% | 47.93% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.01B | -5.47 | 55.14% | ― | 460.30% | 33.03% | |
50 Neutral | $1.21B | -1.76 | -156.98% | ― | ― | -38.04% | |
49 Neutral | $1.05B | -7.34 | 170.21% | ― | 8.00% | -10.15% |
* Healthcare Sector Average
URGN
Urogen Pharma
21.51
11.12
107.03%
GERN
Geron
1.69
0.45
36.29%
ABUS
Arbutus Biopharma
4.48
1.42
46.41%
PHAT
Phathom Pharmaceuticals
12.79
8.57
203.08%
TSHA
Taysha Gene Therapies
6.00
4.82
408.47%
ZBIO
Zenas BioPharma, Inc.
21.05
12.72
152.70%
Urogen Pharma Corporate Events
Business Operations and StrategyPrivate Placements and Financing
UroGen Pharma Secures New $250 Million Term Loan
Positive
Mar 2, 2026
On February 26, 2026, UroGen Pharma Ltd. and its U.S. subsidiary entered into a new loan agreement with BioPharma Credit-affiliated lenders for term loans of up to $250 million, comprising a $200 million Tranche A funded at closing and a $50 milli...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.