UroGen Pharma: Jumps after cancer drug gets FDA nod

UroGen Pharma

16/04/2020 12:03

** Shares of drug developer  URGN.O  jump 15.3% to $24.25
premarket after U.S. Food and Drug Administration's grants
cancer drug expedited approval 
    ** Stock among top pct gainers across U.S. exchanges
    ** Approval based on positive results from late-stage study
of drug  urn:newsml:reuters.com:*:nBw86T6Lwa
    ** URGN says the drug, Jelmyto, will help treat adults with
a type of cancer of the lining of the upper urinary tract,
including the kidney
    ** Jelmyto contains mitomycin, which interferes with growth
and spread of cancer, thereby enabling the treatment of tumors
by non-surgical means
    ** Cowen says Jelmyto's safety profile is competitive with
the available standard of care
    ** Current avg. rating on stock is "buy"; median PT is $42 
    ** Stock fell ~37% this year 

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))