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Investing.com -- UroGen Pharma Ltd (NASDAQ:URGN) reported second quarter revenue that exceeded analyst expectations, but shares fell 3.3% as the company posted a larger-than-expected quarterly loss amid rising expenses related to its recent product launch.
The biotech company, which specializes in urothelial and specialty cancer treatments, reported a second quarter loss of $1.05 per share, missing analyst estimates of a $0.83 per share loss. Revenue came in at $24.2 million, surpassing the consensus estimate of $23.13 million and representing an 11% increase compared to the same quarter last year. The revenue growth was driven by 7% higher underlying demand for its JELMYTO treatment and favorable pricing.
"The recent FDA approval of ZUSDURI for the treatment of adults with recurrent LG-IR-NMIBC represents a truly transformative milestone for patients and for UroGen, marking our evolution into a multi-product uro-oncology company and our leadership in the field," said Liz Barrett, President and Chief Executive Officer of UroGen.
The wider loss reflected significantly higher operating expenses, which jumped to $62.1 million from $45.5 million in the year-ago quarter. Research and development expenses increased by $3.5 million to $18.9 million, while selling, general and administrative expenses surged by $13.1 million to $43.2 million, primarily due to commercial preparation activities for the recently approved ZUSDURI.
UroGen maintained its full-year 2025 revenue guidance for JELMYTO at $94 to $98 million, representing year-over-year growth of approximately 8% to 12%. The company also reiterated its operating expense forecast of $215 to $225 million for the year.
As of June 30, 2025, UroGen had $161.6 million in cash, cash equivalents and marketable securities, down from $241.7 million at the end of 2024, reflecting the company’s continued investment in product launches and pipeline development.
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