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Mar 31
UroGen Q1 2025 Earnings Report
UroGen reported a wider net loss in Q1 2025 despite revenue growth from JELMYTO, driven by increased R&D and SG&A expenses.
Key Takeaways
UroGen posted a net loss of $43.8 million in Q1 2025, with revenue increasing to $20.3 million due to continued demand for JELMYTO. However, higher operating costs tied to pipeline development and commercialization efforts weighed heavily on results.
JELMYTO revenue grew to $20.3 million, up from $18.8 million in Q1 2024.
Net loss expanded to $43.8 million primarily due to higher R&D and SG&A costs.
UGN-102’s FDA decision expected by June 13, 2025, with launch planned for July upon approval.
Cash and equivalents remained strong at $200.4 million, supporting ongoing pipeline development.
UroGen
UroGen
UroGen Revenue by Segment
Revenue by Segment
JELMYTO Revenue
CapyFin.com Forward Guidance
UroGen reiterated its full-year 2025 guidance with expected JELMYTO revenue between $94M and $98M and operating expenses ranging from $215M to $225M.
Positive Outlook
- Strong cash position supports near-term operations.
- UGN-102 approval could unlock significant market opportunity.
- Continued demand growth for JELMYTO.
- Data supports durability and efficacy of UGN-102.
- Enrollment progress in key clinical trials (e.g., UTOPIA for UGN-103).
Challenges Ahead
- Rising operating costs leading to deeper net losses.
- Dependence on timely FDA approval for UGN-102.
- High SG&A due to commercialization readiness expenses.
- Uncertainty around regulatory and advisory committee outcomes.
- Increased interest and financing expenses from outstanding obligations.