UroGen Pharma Ltd. URGN
We are a biotechnology company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers. We have developed RTGel reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based technology that has the potential to improve therapeutic profiles of existing drugs. Our technology is designed to enable longer exposure of urinary tract tissue to medications, making local therapy a potentially more effective treatment option. Our approved products Jelmyto (mitomycin) for pyelocalyceal solution and Zusduri (mitomycin) for intravesical solution are designed to ablate tumors by non-surgical means and to treat several forms of non-muscle invasive urothelial cancer, including low-grade upper tract urothelial cancer ("low-grade UTUC") and recurrent low-grade intermediate risk non-muscle invasive bladder cancer ("low-grade intermediate risk NMIBC"), respectively. In addition, our immuno-uro-oncology pipeline includes UGN-501 (formerly known as ICVB-1042), a next-generation investigational oncolytic virus.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $109.8M | $90.4M | $82.7M | $64.4M | $48.0M | $11.8M | $18.0K | $1.1M | $8.2M | $17.5M |
| Cost of revenue | $12.4M | $8.9M | $9.4M | $7.7M | $5.2M | $1.0M | — | $1.8M | $600.0K | $28.0K |
| Gross profit | $97.3M | $81.5M | $73.4M | $56.7M | $42.9M | $10.8M | $18.0K | -$675.0K | $7.6M | $17.5M |
| R&D | $67.1M | $57.1M | $45.6M | $52.9M | $47.6M | $47.3M | $49.3M | $36.9M | $18.7M | — |
| SG&A | $155.1M | $121.2M | $93.3M | $82.8M | $87.5M | $90.2M | $60.2M | $39.6M | $8.8M | $6.4M |
| Total operating expenses | — | — | — | — | — | — | $109.5M | $76.5M | $27.5M | — |
| Operating income | -$124.9M | -$96.8M | -$65.5M | -$79.0M | -$92.3M | -$126.7M | -$109.5M | -$77.2M | -$19.9M | $798.0K |
| Pre-tax income | -$153.4M | -$124.0M | -$98.3M | -$108.0M | -$109.4M | -$125.1M | -$105.1M | -$75.5M | -$20.0M | -$1.9M |
| Income tax | $78.0K | $2.8M | $3.9M | $1.8M | $1.4M | $3.4M | — | $125.0K | $19.0K | — |
| Net income | -$153.5M | -$126.9M | -$102.2M | -$109.8M | -$110.8M | -$128.5M | -$105.1M | -$75.7M | -$20.0M | -$1.9M |
| EPS, basic | -3.19 | -2.96 | -3.55 | -4.81 | -4.96 | — | — | — | — | — |
| EPS, diluted | — | — | — | — | -4.96 | -5.90 | -5.12 | -4.80 | -2.14 | -1.91 |
| Shares, diluted (wtd. avg.) | $48.1M | $42.9M | $28.8M | $22.8M | $22.3M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $110.7M | $172.0M | $95.0M | $55.4M | $44.4M | $52.9M | $49.7M | $101.3M | $37.0M | $21.4M |
| Short-term investments | $49.3M | $110.7M | $56.2M | $44.6M | $44.8M | $49.2M | $97.4M | — | $36.0M | — |
| Receivables | $33.1M | $20.3M | $15.4M | $12.7M | $11.7M | $7.0M | — | — | — | $83.0K |
| Inventory | $16.5M | $9.2M | $5.7M | $4.3M | $4.8M | $2.0M | — | — | $316.0K | $105.0K |
| Total current assets | $186.0M | $276.1M | $169.2M | $128.9M | $114.4M | $115.6M | $148.6M | $102.2M | $74.5M | $22.0M |
| Property, plant and equipment | $637.0K | $655.0K | $689.0K | $1.3M | $2.0M | $2.0M | $977.0K | $948.0K | $805.0K | $741.0K |
| Total assets | $200.5M | $285.7M | $178.3M | $135.6M | $119.7M | $122.0M | $202.4M | $103.6M | $75.5M | $23.1M |
| Accounts payable | $12.1M | $10.9M | $6.5M | $5.5M | $5.8M | $3.3M | $4.7M | $4.3M | $2.8M | $1.9M |
| Total current liabilities | $46.4M | $45.9M | $31.2M | $23.9M | $22.4M | $21.4M | $19.5M | $13.5M | $7.0M | $3.1M |
| Long-term debt | $122.2M | $121.7M | $98.6M | $97.5M | $0 | — | — | — | — | — |
| Total liabilities | $305.9M | $294.5M | $243.5M | $225.0M | $111.3M | $25.6M | $22.1M | $13.5M | $7.0M | $6.7M |
| Retained earnings | -$959.7M | -$806.2M | -$679.3M | -$577.1M | -$467.3M | -$356.5M | -$228.0M | -$122.9M | -$47.2M | -$27.2M |
| Total equity | -$105.5M | -$8.8M | -$65.2M | -$89.4M | $8.4M | $96.4M | $180.3M | $90.1M | $68.5M | $16.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$162.4M | -$96.8M | -$76.4M | -$87.6M | -$84.9M | -$105.9M | -$71.0M | -$37.3M | -$9.6M | $4.2M |
| Depreciation and amortisation | $307.0K | $329.0K | $802.0K | $924.0K | $831.0K | $416.0K | $300.0K | $400.0K | $200.0K | $200.0K |
| Stock-based compensation | $12.0M | $13.1M | $9.3M | $10.6M | $23.1M | $28.0M | $30.0M | $30.6M | $6.3M | $2.0M |
| Capital expenditure | $289.0K | $295.0K | $194.0K | $254.0K | $752.0K | $1.2M | $325.0K | $560.0K | $271.0K | $695.0K |
| Investing cash flow | $61.6M | -$20.6M | -$953.0K | $1.1M | $4.1M | $93.2M | -$145.6M | $35.3M | -$36.3M | -$719.0K |
| Financing cash flow | $39.9M | $194.6M | $116.9M | $97.1M | $72.3M | $16.5M | $165.2M | $66.4M | $61.6M | -$9.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-014237.
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