Q2 2026 Urogen Pharma Ltd Earnings Call Transcript
Key Points
- UroGen Pharma Ltd (URGN) reported a strong second quarter with Cysview (UGN-102) net product revenue of $50.4 million, a 73% increase over the first quarter, driven by expanding adoption and repeat utilization.
- The company saw significant growth in its commercial metrics, with activated accounts increasing to 1,444, unique prescribers rising to 452, and repeat prescribers nearly doubling to 204, representing 45% of prescribers.
- UroGen Pharma Ltd (URGN) is seeing successful expansion into community urology practices, which now account for approximately 55% of utilization, aligning with the estimated 70% of the addressable market in that setting.
- The company strengthened its long-term intellectual property position with a new method of treatment patent for Cysview and UGN-103, expected to provide protection into July 2044, and a settlement with Teva resolving GelMito patent litigation.
- UroGen Pharma Ltd (URGN) is making significant pipeline progress, with UGN-103 on track for NDA submission in Q3 2026, UGN-104 on track to complete enrollment by end of 2026, and UGN-501 receiving FDA IND clearance to begin Phase 1 development.
- The company reported a significantly reduced net loss of $14.4 million in Q2 2026, compared to a net loss of $49.9 million in the same period last year, and remains confident in reaching profitability with existing capital resources.
- UroGen Pharma Ltd (URGN) is not issuing full-year revenue guidance for Cysview, citing the launch is still in its early stages, which may create uncertainty for investors.
- The company increased its full-year operating expense guidance to $260 million to $270 million, reflecting accelerated investment in promotional activities and pipeline development, which could pressure near-term profitability.
- UroGen Pharma Ltd (URGN) expects only linear growth for Cysview in the near term, with management cautioning against expecting acceleration in Q3 due to potential summer seasonality and the slow adoption rate of urologists.
- The company has not observed a 'reverse halo' effect on Jelmyto from the Cysview launch, and notes that clinical trials for both its own UGN-104 and competitor studies are potentially taking patients who would have been Jelmyto users.
- UroGen Pharma Ltd (URGN) faces a competitive landscape in the high-grade NMIBC space for UGN-103, with multiple emerging therapies, though management believes its product's profile offers advantages.
- The company's path to profitability is dependent on the continued success of the Cysview launch, and any slowdown in adoption or increased competition could impact its ability to achieve this goal with its current capital resources.
Good day and thank you for standing by. Welcome to the Urogen Pharma Q2 2026 Earnings Conference Vincent Peron, Senior Director of Investor Relations.
Thank you, and good morning, everyone. Welcome to Eurogen Pharma's second-quarter 2026 Financial Results and Business Update conference call. Earlier this morning, we issued a press release providing an overview of our recent corporate highlights and financial results for the quarter ended June 30, 2026. The release can be accessed on the Investors portion of our website at investors.eurigen.com.
Joining me today are Liz Barrett, President and Chief Executive Officer, Dr. Mark Schoenberg, Chief Medical Officer, and Chris Stegdan, Chief Financial Officer. On today's call, we will be making certain forward-looking statements. These may include, among other things, statements regarding our ongoing commercialization activities related to the Duri and Gelmido, ongoing and planned clinical and non-clinical trials, commercial and clinical
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