Urogen Pharma NASDAQ: URGN reported second-quarter 2026 revenue of $72.5 million, up from $24.2 million a year earlier, as the commercial launch of bladder cancer treatment ZUSDURI continued to gain traction. The company recorded a net loss of $14.4 million, or $0.28 per share, compared with a $49.9 million loss, or $1.05 per share, in the prior-year quarter.
ZUSDURI generated $50.4 million in net product revenue during the quarter, representing a 73% increase from the first quarter, according to President and Chief Executive Officer Liz Barrett. The treatment is approved for adults with recurrent, low-grade, intermediate-risk non-muscle invasive bladder cancer.
Barrett said the launch showed expanding use in hospital and community settings, greater repeat prescribing and improved practice workflows. As of June 30, the company had 1,444 activated accounts, compared with 972 at the end of the first quarter. Unique prescribers rose to 452 from 256, while repeat prescribers nearly doubled to 204.
Repeat prescribers represented about 45% of ZUSDURI writers at quarter-end, versus approximately 40% in the first quarter. Barrett said the company considers repeat use an important measure of physicians’ confidence and the product’s potential for longer-term adoption.
ZUSDURI Adoption Shifts Toward Community Practices
Approximately 55% of ZUSDURI utilization came from community urology practices at the end of the quarter, compared with 45% from hospitals. Barrett said UroGen estimates that about 70% of the addressable market is treated in community practices, making that setting a key opportunity for future growth.
The company said it has open access across more than 95% of covered lives and does not see material reimbursement barriers. Barrett said the product’s permanent J-code has improved reimbursement confidence and enabled broader utilization.
Management said it is working to reduce the time between patient enrollment and treatment initiation. UroGen’s goal is to reach a two-to-three-week enrollment-to-treatment cycle similar to what it sees for JELMYTO, its treatment for low-grade upper tract urothelial cancer.
During the question-and-answer session, Barrett said ZUSDURI usage has been observed across patients who have undergone varying numbers of transurethral resection of bladder tumor, or TURBT, procedures. She said physicians are increasingly using the treatment without surgery as they gain familiarity with it, although some continue to use it after an initial procedure.
Chief Financial Officer Chris Degnan said the company expects quarter-to-quarter variability in ZUSDURI sales, including possible seasonal effects during the summer. While management expects continued quarter-over-quarter growth in the third quarter, Barrett said the company does not expect the same degree of acceleration seen in the second quarter.
UroGen does not yet provide full-year ZUSDURI revenue guidance. Degnan said the company intends to let demand trends develop through the remainder of 2026 before considering formal guidance, which he indicated would be more likely next year.
JELMYTO Revenue Remains Stable
JELMYTO generated $22 million in second-quarter revenue, compared with $21.7 million in the first quarter. UroGen maintained its full-year JELMYTO net product revenue guidance of $97 million to $101 million, representing growth of roughly 3% to 7% over 2025.
Barrett said the company has seen some physicians begin using JELMYTO after being contacted about ZUSDURI, but it has not experienced a broad “halo” effect on JELMYTO demand. She also noted that UroGen’s sales force has prioritized ZUSDURI and that clinical trials, including UroGen’s UGN-104 study and competitor studies, may be enrolling patients who might otherwise have been candidates for JELMYTO.
During the quarter, UroGen reached a settlement and license agreement with Teva that resolved JELMYTO patent litigation. The company also received a notice of allowance from the U.S. Patent and Trademark Office for a method-of-treatment patent covering ZUSDURI and UGN-103. UroGen expects the patent, once issued, to provide protection through July 2044.
Pipeline Programs Advance
Chief Medical Officer Mark Schoenberg said updated data from the Phase 3 ENVISION study showed that, among patients who achieved a complete response at three months, the Kaplan-Meier estimated probability of remaining disease-free at 36 months was 64.5%. At a median follow-up of 35.5 months, the median duration of response had not been reached.
UroGen remains on track to submit a new drug application for UGN-103, an investigational next-generation treatment for recurrent low-grade intermediate-risk non-muscle invasive bladder cancer, in the third quarter of 2026. The company previously reported a six-month duration of response of 94.5% by Kaplan-Meier estimate in the Phase 3 UTOPIA trial.
Following a Type C meeting with the FDA, UroGen plans to begin a Phase 3 trial of UGN-103 later this year in high-grade non-muscle invasive bladder cancer. The company also plans to study the treatment in the adjuvant setting for newly diagnosed low-grade intermediate-risk patients beginning in 2027.
UGN-104, a potential successor to JELMYTO for low-grade upper tract urothelial cancer, remains in Phase 3 development, with enrollment expected to be completed by the end of 2026. UroGen also expects to begin a Phase 1 study of UGN-501, an investigational oncolytic virus for high-grade non-muscle invasive bladder cancer, later this year after the FDA cleared its investigational new drug application in July.
Expenses Rise as Company Increases Commercial Investment
Research and development expense fell to $17.3 million from $18.9 million a year earlier, primarily because ZUSDURI manufacturing costs had been recorded as research and development expense before its FDA approval in 2025. Selling, general and administrative expense increased to $48.4 million from $43.2 million, reflecting ZUSDURI sales-force expansion, marketing and other commercial operating costs.
UroGen raised its 2026 operating expense guidance to $260 million to $270 million, including about $20 million to $24 million in non-cash share-based compensation. Degnan said the increase reflects accelerated investment in healthcare professional education and patient-awareness efforts for ZUSDURI, as well as startup work for the UGN-103 high-grade trial and development activities for UGN-501 using the company’s RTGel technology.
As of June 30, UroGen had $108 million in cash, cash equivalents and marketable securities. Degnan said the company remains confident its existing capital resources can fund operations through profitability.
About Urogen Pharma (NASDAQ:URGN)
UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra'anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.
The company's lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Urogen Pharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Urogen Pharma wasn't on the list.
While Urogen Pharma currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
