Brokerages expect blockbuster sales for Urogen's bladder cancer drug candidate

UroGen Pharma

16/10/2024 15:05

** Brokerage Oppenheimer expects Urogen Pharma's  URGN.O 
under-review bladder cancer drug to generate more than $1
billion sales in the United States over time 
    ** Late on Tuesday, URGN said U.S. Food and Drug
administration accepted marketing application for its
experimental drug, UGN-102, to treat a type of bladder cancer 
    ** FDA to make a decision by June 13, 2025 for URGN's drug
    ** U.S.-listed shares of the drug developer down marginally
at $12.21 in early trading, which Oppenheimer attributes to a
standard review of the drug instead of priority
    ** Oppenheimer says will closely await clarity on a
potential meeting of advisors to FDA, which is not a source of
concern due to the drug's strong efficacy and safety data
    ** Brokerage Guggenheim sees approval of the drug as a "key
near-term value driver" for URGN 
    ** Guggenheim estimates a total addressable market of more
than 80,000 U.S. patients which could translate to about $5 bln
in sales
    ** Including session moves, U.S.-listed shares of URGN down
about 19% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))