PRINCETON – UroGen Pharma Ltd. (NASDAQ: URGN), a biotech company focused on developing treatments for urothelial and specialty cancers, today announced the launch of an underwritten public offering. The offering includes the sale of ordinary shares and pre-funded warrants, with the final terms subject to market conditions.
The company also intends to give underwriters a 30-day option to purchase up to an additional 15% of the number of shares sold in the offering. UroGen has not yet disclosed the size or specific terms of the offering. TD Cowen and Guggenheim Securities are serving as joint book-runners, with Oppenheimer & Co. as the lead manager and Ladenburg Thalmann as the co-manager.
The offering is pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (SEC) on November 29, 2022. Interested parties can obtain copies of the preliminary prospectus from the offices of TD Securities or Guggenheim Securities once available.
UroGen Pharma, headquartered in Princeton, NJ, with operations in Israel, is known for its proprietary RTGel® reverse-thermal hydrogel technology. This platform aims to enhance the effectiveness of existing drugs by allowing prolonged exposure of urinary tract tissue to medication. UroGen's product pipeline includes treatments for upper tract urothelial cancer and a non-surgical ablative treatment for low-grade non-muscle invasive bladder cancer.
The announcement contains forward-looking statements regarding the offering's completion and potential benefits of the company's technology. However, these are subject to market risks and uncertainties that could materially affect actual results.
This news article is based on a press release statement from UroGen Pharma Ltd. and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The completion and terms of the public offering are not guaranteed and are contingent on market conditions and other factors.
InvestingPro Insights
As UroGen Pharma Ltd. (NASDAQ: URGN) embarks on its public offering, investors are closely monitoring the company's financial health and market performance. InvestingPro data reveals that UroGen holds a market capitalization of $662.63 million, indicating a significant presence in the biotech industry. The company's gross profit margin over the last twelve months as of Q1 2024 stands at an impressive 89.53%, underscoring its ability to manage costs effectively and maintain a strong profit on its revenue, which grew by 24.0% during the same period.
Despite the absence of dividends and profitability concerns, UroGen has demonstrated substantial market returns, with a 60.0% return over the last year and a noteworthy 50.35% return over the past week. These figures suggest a robust investor confidence and a potentially favorable market reaction to the company's strategic initiatives, including its recent offering announcement.
InvestingPro Tips indicate that UroGen's balance sheet reflects a positive financial position, holding more cash than debt, which is a reassuring sign for investors considering the inherent risks of the biotech sector. Moreover, the company's liquid assets exceed its short-term obligations, providing further evidence of financial stability. However, analysts are cautious, as evidenced by the downward revisions of earnings estimates for the upcoming period and the lack of anticipated profitability for the year.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available at InvestingPro. Take advantage of these insights and use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 12 more tips listed on InvestingPro, investors can gain a comprehensive understanding of UroGen Pharma's potential and make more informed decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.