URGN (UroGen Pharma Ltd.) stock: $43.25, $2.11B market cap, $109.3M cash, $2.19B EV, $2.24B fully diluted market cap. Next expected readout: Mar-27. Lead program: UGN-104 (Upper Urinary Tract Urothelial Carcinoma), Phase 3. Data from Fully Diluted's biotech stocks database.
Enterprise value
$2,193.5M
Balance sheet
| Cash | $109.3M |
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| Debt | $188.7M |
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| Net cash | -$79.4M |
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| Enterprise value | $2,193.5M |
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| Basic shares | 48.9M shares |
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| Fully diluted shares | 51.8M shares |
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| Fully diluted market cap | $2,240.6M |
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| Cash per share | $2.24 |
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Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.
Price history
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Upcoming catalysts
| Expected | Drug | Phase | Indication | Mgmt guide |
|---|
| Apr 12 - May 24 | UGN-104 | Phase 3 | Upper Urinary Tract Urothelial Carcinoma; Urothelial Carcinoma | — |
| Sep 13 - Oct 25 | UGN-501 | Phase 1 | Bladder (Urothelial, Transitional Cell) Cancer; NMIBC; Urothelial Carcinoma Bladder | — |
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Full readout calendar →
Pipeline assets
Jelmyto
Approved · Active Modality: Mitomycin formulated with RTGel sustained-release hydrogel
Aliases mitomycin for pyelocalyceal solution (formerly UGN-101)
Target DNA
Indications- Low-grade upper tract urothelial cancer (low-grade UTUC) (Approved)
Status note FDA approved April 15, 2020 for adults with low-grade upper tract urothelial cancer. Teva settlement (June 2026): non-exclusive license to Teva's generic beginning September 15, 2030 if approved.
Zusduri
Approved · Active Modality: Mitomycin formulated with RTGel sustained-release hydrogel (intravesical)
Aliases mitomycin for intravesical solution (formerly UGN-102)
Target DNA
Indications- Recurrent low-grade intermediate-risk non-muscle invasive bladder cancer (Approved)
Status note FDA approved June 12, 2025 for adults with recurrent low-grade intermediate-risk NMIBC.
UGN-103
Phase 3 · Active Modality: Mitomycin (medac 80 mg formulation) with RTGel sustained-release hydrogel (intravesical)
Target DNA
Partnerships medac Gesellschaft für klinische Spezialpräparate (Jan 2024 licensing and supply agreement): next-generation formulation of Zusduri combining medac's proprietary mitomycin formulation with UroGen's RTGel technology
Indications- Recurrent low-grade intermediate-risk NMIBC (Phase 3)
Status note Next-generation investigational formulation of Zusduri. Phase 3 UTOPIA trial enrollment completed July 2025. FDA agreed on a regulatory plan to submit an NDA based on UTOPIA data.
UGN-104
Phase 3 · Active Modality: Mitomycin (medac 80 mg formulation) with RTGel sustained-release hydrogel (pyelocalyceal)
Target DNA
Partnerships medac (Jan 2024 licensing and supply agreement): next-generation formulation of Jelmyto
Status note Next-generation investigational formulation of Jelmyto. FDA accepted IND February 2025; Phase 3 trial in low-grade UTUC initiated June 2025.
UGN-501
Phase 1 · Active Modality: Next-generation oncolytic virus (intravesical)
Aliases formerly ICVB-1042
Partnerships IconOVir Bio (Feb 2025 asset purchase agreement): acquired ICVB-1042 and related IP/regulatory assets
Indications- NMIBC (locally administered) (Phase 1)
Status note Investigational oncolytic virus therapy. FDA cleared IND July 2026; initial focus bladder cancer with potential expansion beyond the genitourinary system.
UGN-301
Phase 1 · Terminated Modality: Anti-CTLA-4 monoclonal antibody with RTGel
Aliases zalifrelimab (AGEN1884, anti-CTLA-4 formulated with RTGel)
Target CTLA-4
Status note Was in Phase 1 development for high-grade NMIBC. In November 2025 the company notified Agenus of termination of the license agreement in connection with its decision to discontinue development of UGN-301.
Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.