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Jun 30, 2023
UroGen Q2 2023 Earnings Report
UroGen's JELMYTO revenue increased and Phase 3 trials for UGN-102 met primary endpoints.
Key Takeaways
UroGen Pharma reported record JELMYTO quarterly sales of $21.1 million, a ~27% increase from the same period last year. Both ENVISION and ATLAS Phase 3 trials of UGN-102 met their primary endpoints. The company also completed a $120 million private placement of ordinary shares and pre-funded warrants.
JELMYTO net product revenues reached a record $21.1 million in Q2 2023, representing a ~27% increase year-over-year.
ENVISION and ATLAS Phase 3 clinical trials of UGN-102 in LG-IR-NMIBC both met their primary endpoints.
A $120 million private placement of ordinary shares and pre-funded warrants strengthened the balance sheet.
The company anticipates submitting a New Drug Application (NDA) for UGN-102 in 2024, assuming positive secondary endpoint findings.
UroGen
UroGen
UroGen Revenue by Segment
Revenue by Segment
JELMYTO Revenue
CapyFin.com Forward Guidance
The Company reiterates anticipated full year 2023 net product revenues from JELMYTO to be in the range of $76 to $86 million. The Company also reiterates anticipated full year 2023 operating expenses in the range of $135 to $145 million, including non-cash share-based compensation expense of $6.0 to $11.0 million, subject to market conditions. The Company also reiterates anticipated full year 2023 non-cash financing expense related to the prepaid obligation to RTW Investments in the range of $21.0 to $26.0 million. Of this amount approximately $9.9 to $11.2 million is expected to be in cash.