UroGen Pharma Q3 revenue misses expectations on JELMYTO decline
Overview
US biotechnology firm's Q3 revenue rose yr/yr but missed analyst expectations
Q3 net loss narrowed yr/yr but missed analyst expectations
ZUSDURI revenue grew 35% quarter-over-quarter, driving overall revenue increase
Outlook
Company lowers 2026 JELMYTO revenue guidance to about $90 mln from $97-101 mln
UroGen expects 2026 operating expenses of $260 mln to $270 mln, toward upper end of range
Company sees future growth opportunities from UGN-103 expansion, UGN-501 development and IntraGel collaboration
Result Drivers
ZUSDURI ADOPTION - Co said increased repeat utilization, expanding community adoption and broader physician engagement drove ZUSDURI revenue growth
JELMYTO DECLINE - Co said JELMYTO revenue fell due to a one-time CMS adjustment and ongoing competitive clinical trial enrollment affecting patient starts
COMMERCIAL EXPENSES - Co said higher SG&A expenses were driven by ZUSDURI commercial activities and increased operations costs
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $89.001 mln | $89.92 mln (7 Analysts) |
Q3 Net Income | Miss | -$1.46 mln | $7.11 mln (6 Analysts) |
Q3 Operating Income | Miss | $8.33 mln | $14.39 mln (7 Analysts) |
Q3 Pretax Profit | Miss | -$446,000 | $4.73 mln (5 Analysts) |
Q3 Operating Expenses | $73.17 mln |
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for UroGen Pharma Ltd. is $60.00, about 74.4% above its November 3 closing price of $34.40
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 67 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)