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Dec 31, 2021
UroGen Q4 2021 Earnings Report
UroGen reported financial results for the fourth quarter and full year ended December 31, 2021, and overview of recent developments.
Key Takeaways
UroGen Pharma reported a net product revenue of $16.2 million for Q4 2021 from Jelmyto, representing a 42% increase over the previous quarter. The company also announced an up to $100 million senior secured term loan facility to support operations to reach cash flow breakeven by 2025.
Jelmyto net product revenue increased 42% over Q3 2021, reaching $16.2 million in Q4 2021.
Full-year net product revenue of $48.0 million was in line with guidance.
UroGen announced up to $100 million senior secured term loan facility with Pharmakon Advisors, expected to support operations to reach cash flow breakeven by 2025.
The first patient was dosed in ENVISION, a single-arm Phase 3 pivotal study for UGN-102 in bladder cancer.
Revenue by Segment
Forward Guidance
The Company anticipates full year 2022 net product revenues from Jelmyto to be in the range of $70 to $80 million. The Company anticipates full year 2022 operating expenses in the range of $140 to $160 million, including non-cash share-based compensation expense of $10 to $16 million, subject to market conditions. The Company anticipates full year 2022 financing expense related to the prepaid obligation to RTW Investments in the range of $22 to $26 million, of which approximately $9.1 to $10.4 million will be in cash.
Positive Outlook
- Full year 2022 net product revenues from Jelmyto to be in the range of $70 to $80 million.
- Operating expenses are anticipated to be in the range of $140 to $160 million.
- Non-cash share-based compensation expense of $10 to $16 million is expected.
- Financing expense related to the prepaid obligation to RTW Investments in the range of $22 to $26 million is anticipated.
- Approximately $9.1 to $10.4 million will be in cash.
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