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UroGen Pharma Ltd. (NASDAQ:URGN), a biotechnology company with a market capitalization of $483 million and impressive gross profit margins of 90%, recently reported insider transactions by Jason Drew Smith, the company’s General Counsel. On January 31, Smith executed several transactions involving the company’s ordinary shares.
Smith sold a total of 7,379 shares, generating proceeds of $82,202 at a price of $11.14 per share. These sales were conducted to satisfy withholding tax obligations upon the settlement of restricted stock units. The transaction price was near the stock’s current trading level of $11.51, with the shares having traded between $9.78 and $20.70 over the past 52 weeks. InvestingPro analysis indicates the stock is currently trading close to its Fair Value.
Additionally, Smith acquired 14,667 shares through the exercise of restricted stock units, with no cash exchanged in these transactions.
Following these transactions, Smith holds 32,514 shares in UroGen Pharma.
In other recent news, UroGen Pharma Ltd. has made notable strides in its research and development efforts. The company’s drug, JELMYTO, has demonstrated promising results in long-term disease control for patients with low-grade upper tract urothelial cancer (LG-UTUC), according to a recent study. The research revealed that 68% of patients remained free of disease recurrence, with a median follow-up period of 23.5 months. The study also highlighted the potential benefits of maintenance therapy, a finding that warrants further investigation.
Additionally, UroGen’s UGN-102 reported a high response in a Phase 3 ENVISION study for patients with low-grade intermediate-risk non-muscle-invasive bladder cancer (LG-IR-NMIBC). The study showed a 79.6% complete response rate at three months and an 82.3% duration of response at one year. The company has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for UGN-102, which is set to be reviewed by June 13, 2025.
Furthermore, the company’s Q3 2024 financial results were recently discussed in an earnings call, where the focus was on JELMYTO and the potential approval and future commercialization of UGN-102. The company provided financial guidance for the remainder of 2024 and expressed confidence in the ongoing commercialization efforts for JELMYTO and the potential commercial success of UGN-102. These recent developments underscore UroGen’s commitment to advancing therapies for complex urological conditions.
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