Brokerages see potential in UroGen's experimental bladder cancer drug

UroGen Pharma

16/04/2025 16:34

** Brokerages Scotiabank and Guggenheim see significant potential in UroGen Pharma's URGN.O experimental drug for a type of bladder cancer

** Scotiabank says the drug UGN-102 could serve as a niche alternative to standard-of-care labor-intensive surgical procedures

** Scotiabank initiates coverage on URGN with a "sector outperform" rating, sets PT at $23

** The drug is under review for the treatment of low-grade intermediate-risk non-muscle invasive bladder cancer(LG-IR-NMIBC)

** FDA to decide by June 13 for URGN's drug

** Brokerage Guggenheim says URGN's bladder cancer drug could be the only approved non-surgical option in the LG-IR-NMIBC market

** Guggenheim estimates a total addressable market of more than 80,000 U.S. patients, which could translate to about $5 bln in sales

** Adds UGN-102 is "the key near-term value driver for the company's shares"

** As of last close, U.S.-listed shares has fallen 2% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))