UroGen Pharma Ltd
URGNHealthcare|Biotechnology|USA
$38.57
-1.67 (-4.15%)
Financials
Financial Snapshot
Market Cap
$1.88B
Enterprise Value
$-54.9M
Revenue (TTM)
$140.5M
Net Income (TTM)
$-133.2M
Cash & Equivalents
—
Net Cash/Share
$-4.88
Free Cash Flow (TTM)
$-166.0M
Operating CF (TTM)
$-165.7M
Debt/Equity
-1.57
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$41.4M
Monthly Burn
$13.8M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $21.4M | $73.0M | $101.3M | $147.1M | $102.0M | $89.1M | $100.0M | $137.0M | $236.7M | $120.5M | $140.3M | |
| Operating Cash Flow | $4.2M | $-9.6M | $-37.3M | $-71.0M | $-105.9M | $-84.9M | $-87.6M | $-76.4M | $-96.8M | $-162.4M | $-165.7M | |
| Free Cash Flow | $3.5M | $-9.8M | $-37.9M | $-71.3M | $-107.1M | $-85.6M | $-87.8M | $-76.6M | $-97.1M | $-162.7M | $-166.0M | |
| Capital Expenditure | $-695.0K | $-271.0K | $-560.0K | $-325.0K | $-1.2M | $-752.0K | $-254.0K | $-194.0K | $-295.0K | $-289.0K | $-299.0K | |
| Financing Cash Flow | $-9.0K | $61.6M | $66.4M | $165.3M | $16.5M | $72.3M | $97.1M | $116.9M | $194.6M | $39.9M | $105.1M |
R&D Spending
R&D (TTM)
$62.8M
R&D Intensity
44.7%
R&D Growth YoY
-6.4%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.5M | $8.2M | $1.1M | $18.0K | $11.8M | $48.0M | $64.4M | $82.7M | $90.4M | $109.8M | $140.5M | |
| R&D Expense | $10.3M | $18.7M | $36.9M | $49.3M | $47.3M | $47.6M | $52.9M | $45.6M | $57.1M | $67.1M | $62.8M | |
| R&D % of Revenue | 58.7% | 229.2% | 3274.3% | 273872.2% | 401.0% | 99.2% | 82.2% | 55.1% | 63.2% | 61.1% | 44.7% | |
| SG&A | $6.4M | $8.8M | $39.6M | $60.2M | $90.2M | $87.5M | $82.8M | $93.3M | $121.2M | $155.1M | $171.6M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.5M | $8.2M | $1.1M | $18.0K | $11.8M | $48.0M | $64.4M | $82.7M | $90.4M | $109.8M | $140.5M | |
| Cost of Goods Sold | $28.0K | $600.0K | $1.8M | $0.00 | $1.0M | $5.2M | $7.7M | $9.4M | $8.9M | $12.4M | $14.3M | |
| Gross Profit | $17.5M | $7.6M | $-675.0K | $18.0K | $10.8M | $42.9M | $56.7M | $73.4M | $81.5M | $97.3M | $126.2M | |
| R&D | $10.3M | $18.7M | $36.9M | $49.3M | $47.3M | $47.6M | $52.9M | $45.6M | $57.1M | $67.1M | $62.8M | |
| SG&A | $6.4M | $8.8M | $39.6M | $60.2M | $90.2M | $87.5M | $82.8M | $93.3M | $121.2M | $155.1M | $171.6M | |
| Operating Income | $798.0K | $-19.9M | $-77.2M | $-109.5M | $-126.7M | $-92.3M | $-79.0M | $-65.5M | $-96.8M | $-124.9M | $-108.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $-284.0K | $-357.0K | $-17.4M | $-8.4M | $-14.7M | $-12.5M | $-15.3M | $-15.5M | |
| Pretax Income | $-1.9M | $-20.0M | $-75.5M | $-105.1M | $-125.1M | $-109.4M | $-108.0M | $-98.3M | $-124.0M | $-153.4M | $-138.3M | |
| Net Income | $-1.9M | $-20.0M | $-75.7M | $-105.1M | $-128.5M | $-110.8M | $-109.8M | $-102.2M | $-126.9M | $-153.5M | $-133.2M | |
| EPS (Diluted) | -0.37 | -2.14 | -4.80 | -5.12 | -5.90 | -4.96 | -4.81 | -3.55 | -2.96 | -3.19 | -2.75 | |
| EBITDA | $1.0M | $-19.7M | $-76.8M | $-108.2M | $-124.7M | $-107.6M | $-97.8M | $-81.9M | $-110.3M | $-135.7M | $-120.3M | |
| Shares Out. (M) | 11.97 | 9.72 | 15.75 | 20.53 | 21.78 | 22.35 | 22.81 | 28.83 | 42.88 | 48.12 | 50.18 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $21.4M | $37.0M | $101.3M | $49.7M | $52.9M | $44.4M | $55.4M | $95.0M | $172.0M | $110.7M | $110.0M | |
| Marketable Securities | $0.00 | $36.0M | $0.00 | $97.4M | $49.2M | $44.8M | $44.6M | $42.0M | $64.7M | $9.7M | $30.3M | |
| Total Current Assets | $22.0M | $74.5M | $102.2M | $148.6M | $115.6M | $114.4M | $128.9M | $169.2M | $276.1M | $186.0M | $237.5M | |
| Total Assets | $23.1M | $75.5M | $103.6M | $202.4M | $122.0M | $119.7M | $135.6M | $178.3M | $285.7M | $200.5M | $253.7M | |
| Total Current Liabilities | $3.1M | $7.0M | $13.5M | $19.5M | $21.4M | $22.4M | $23.9M | $31.2M | $45.9M | $46.4M | $50.6M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $97.5M | $98.6M | $121.7M | $122.2M | $189.5M | |
| Total Liabilities | $6.7M | $7.0M | $13.5M | $22.1M | $25.6M | $111.3M | $225.0M | $243.5M | $294.5M | $305.9M | $377.9M | |
| Stockholders' Equity | $16.3M | $68.5M | $90.1M | $180.3M | $96.4M | $8.4M | $-89.4M | $-65.2M | $-8.8M | $-105.5M | $-124.3M | |
| Retained Earnings | $-27.2M | $-47.2M | $-122.9M | $-228.0M | $-356.5M | $-467.3M | $-577.1M | $-679.3M | $-806.2M | $-959.7M | $-983.3M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.2M | $-9.6M | $-37.3M | $-71.0M | $-105.9M | $-84.9M | $-87.6M | $-76.4M | $-96.8M | $-162.4M | $-165.7M | |
| Capital Expenditure | $-695.0K | $-271.0K | $-560.0K | $-325.0K | $-1.2M | $-752.0K | $-254.0K | $-194.0K | $-295.0K | $-289.0K | $-299.0K | |
| Free Cash Flow | $3.5M | $-9.8M | $-37.9M | $-71.3M | $-107.1M | $-85.6M | $-87.8M | $-76.6M | $-97.1M | $-162.7M | $-166.0M | |
| Investing Cash Flow | $-719.0K | $-36.3M | $35.3M | $-145.6M | $93.2M | $4.1M | $1.1M | $-953.0K | $-20.6M | $61.6M | $66.8M | |
| Financing Cash Flow | $-9.0K | $61.6M | $66.4M | $165.3M | $16.5M | $72.3M | $97.1M | $116.9M | $194.6M | $39.9M | $105.1M | |
| Issuance of Stock | $0.00 | $60.8M | $64.2M | $161.7M | $15.9M | $0.00 | $0.00 | $67.4M | $151.2M | $39.8M | $39.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $95.8M | $0.00 | $24.5M | $0.00 | $65.3M | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-1.9M | $-2.2M | |
| Stock Based Comp. | $2.0M | $6.3M | $30.6M | $30.0M | $28.0M | $23.1M | $10.6M | $9.3M | $13.1M | $12.0M | $13.5M | |
| Net Change in Cash | $3.5M | $15.7M | $64.4M | $-51.4M | $3.9M | $-8.5M | $10.6M | $39.6M | $77.2M | $-61.0M | $6.2M |
Dilution Tracker
Shares outstanding grew 124.6% over 5 years — significant dilution
Shares Outstanding
50M
5-Year Share Growth
+124.6%
Stock Issuance (TTM)
$39.8M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 11.97 | 9.72 | 15.75 | 20.53 | 21.78 | 22.35 | 22.81 | 28.83 | 42.88 | 48.12 | 50.18 | |
| YoY Change % | — | -18.8% | 62.1% | 30.3% | 6.1% | 2.6% | 2.1% | 26.4% | 48.7% | 12.2% | 4.3% | |
| Stock Issuance | $0.00 | $60.8M | $64.2M | $161.7M | $15.9M | $0.00 | $0.00 | $67.4M | $151.2M | $39.8M | $39.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.0M | $6.3M | $30.6M | $30.0M | $28.0M | $23.1M | $10.6M | $9.3M | $13.1M | $12.0M | $13.5M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 99.8% | 92.6% | -59.8% | 0.0% | 91.4% | 89.3% | 88.1% | 88.7% | 90.2% | 88.7% | 89.8% | |
| Operating Margin % | 4.6% | -244.5% | -6842.2% | -608211.1% | -1074.2% | -192.1% | -122.8% | -79.2% | -107.1% | -113.7% | -77.0% | |
| Net Margin % | -11.1% | -245.2% | -6707.2% | -584144.4% | -1088.9% | -230.7% | -170.6% | -123.6% | -140.4% | -139.8% | -94.8% | |
| EBITDA Margin % | 5.8% | -242.0% | -6805.2% | -600855.6% | -1056.8% | -224.0% | -151.9% | -99.0% | -122.1% | -123.6% | -85.6% | |
| FCF Margin % | 19.9% | -120.6% | -3359.4% | -396344.4% | -907.7% | -178.3% | -136.4% | -92.6% | -107.4% | -148.2% | -118.2% | |
| ROE % | -11.9% | -47.2% | -95.4% | -77.8% | -92.9% | -211.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROA % | -9.1% | -40.6% | -84.5% | -68.7% | -79.2% | -91.7% | -86.0% | -65.1% | -54.7% | -63.1% | -60.8% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.41
P/S13.48
Historical2.07 / 10.46 / 34620.00
Industry Med.9.51
P/B—
Historical1.60 / 6.01 / 25.36
Industry Med.2.93
EV/EBITDA-16.08
Historical-156.71 / -4.13 / 191.49
Industry Med.13.14
EV/Revenue13.77
Historical0.95 / 9.07 / 31601.59
Industry Med.8.71
P/FCF—
Historical40.96 / 67.18 / 200.55
Industry Med.27.54
Intrinsic Value Models
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 44.30 | 598.06 | 33370.00 | 33.25 | 4.42 | 3.14 | 5.23 | 5.05 | 10.26 | 13.48 | |
| PB Ratio | 0.00 | 7.47 | 7.75 | 3.89 | 4.15 | 25.36 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EV/EBITDA | 0.00 | -22.22 | -7.78 | -5.15 | -2.40 | -1.16 | -2.09 | -5.49 | -3.05 | -8.41 | -16.08 | |
| EV/Revenue | 0.00 | 53.77 | 529.17 | 30953.59 | 25.34 | 2.60 | 3.17 | 5.44 | 3.72 | 10.39 | 13.77 |
Analyst Estimates & Quality
Altman Z-Score
-2.60
Distress
Piotroski F-Score
3
Weak
Beneish M-Score
-0.56
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $269.2M | $419.8M | $554.0M |
| Net Income | $-46.7M | $65.8M | $175.1M |
| EPS | -0.92 | 1.37 | 3.52 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Jelmyto | $94.0M |
| Zusduri | $15.8M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $109.8M |