Urogen soars as invasive bladder cancer drug meets main goals in trials

UroGen Pharma

27/07/2023 17:01

** U.S.-listed shares of Israeli drug developer Urogen
Pharma  URGN.O  jump about 42% to $12.7, their highest in almost
three months
    ** Stock set to post best day ever, if gains hold 
    ** Co says its experimental drug, UGN-102, met the main
goals in two late-stage trials 
    ** Drug was being studied as a treatment for LG-IR-NMIBC, or
low-grade, intermediate-risk non-muscle invasive bladder cancer
    ** Expects additional data related to a secondary endpoint
response in the study; intends to file for marketing approval of
the drug with US regulators in 2024
    ** Says its on track to deliver guidance of Jelmyto, its
medicine for the treatment of upper tract urothelial cancer- CEO
Liz Barrett
    ** Also announces $120 mln private placement of ordinary
shares
    ** stock up 47.7% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))