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In a recent transaction reported to the SEC, Mark Schoenberg, the Chief Medical (TASE:PMCN) Officer of UroGen Pharma Ltd. (NASDAQ:URGN), sold company shares valued at approximately $50,698. The sales, which took place on January 31, 2025, involved a total of 3,651 ordinary shares sold at a price of $11.14 per share. According to InvestingPro data, the stock is currently trading at $11.53, near its Fair Value, with analysts setting price targets ranging from $22 to $64.
In addition to these sales, Schoenberg also executed several transactions involving the acquisition of ordinary shares through the exercise of restricted stock units. These acquisitions did not involve any cash transactions, as the restricted stock units represent a contingent right to receive one ordinary share of the company.
Following these transactions, Schoenberg’s direct ownership of UroGen Pharma shares was adjusted, reflecting the changes in his holdings. The sales were conducted to satisfy withholding tax obligations upon the settlement of restricted stock units, as indicated in the filing.
In other recent news, UroGen Pharma Ltd. has been making significant strides in the field of cancer treatment. Recent studies have shown promising results for the company’s products JELMYTO and UGN-102. A post-commercialization analysis of JELMYTO indicated its effectiveness in long-term disease control for patients with low-grade upper tract urothelial cancer. The study found that 68% of patients remained free of disease recurrence, with a median follow-up period of 23.5 months.
Additionally, UroGen’s UGN-102 displayed a high response in a bladder cancer study. The Phase 3 ENVISION study reported a 79.6% complete response rate at three months and an 82.3% duration of response at one year. UroGen has completed the submission of a New Drug Application to the U.S. Food and Drug Administration for UGN-102, with a goal date set for June 13, 2025.
In the company’s third quarter financial results, UroGen highlighted the ongoing commercialization of JELMYTO and potential future activities for UGN-102, which is expected to be a significant growth driver upon approval. The company provided financial guidance for the remainder of 2024, indicating a positive outlook for its current products and future developments.
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