UroGen Pharma Ltd. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>UroGen Pharma Ltd. filed its Q1 2024 10-Q, detailing inventory and prepaid obligations.</b>

AI Summary

UroGen Pharma Ltd. (URGN) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. UroGen Pharma Ltd. reported Q1 2024 results. Raw materials valued at $0.7 million and $1.7 million were included in other non-current assets as of March 31, 2024 and December 31, 2023, respectively. Prepaid forward obligation amounts of $2.4 million and $3.0 million were included in other current liabilities as of March 31, 2024 and December 31, 2023, respectively. The company's fiscal year ends on December 31. Mark Schoenberg is listed as Chief Medical Officer.

Why It Matters

For investors and stakeholders tracking UroGen Pharma Ltd., this filing contains several important signals. The filing provides specific figures for raw materials and prepaid obligations, offering insight into the company's working capital management and supply chain. Disclosure of these specific asset and liability components is crucial for investors to assess the company's short-term financial health and operational efficiency.

Risk Assessment

Risk Level: low — UroGen Pharma Ltd. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediately apparent significant negative events or disclosures, indicating a low level of immediate risk from this filing alone.

Analyst Insight

Monitor future filings for trends in raw material inventory and prepaid obligations to understand their impact on cash flow and profitability.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Condensed Consolidated Balance Sheets)
• 2023-12-31 — Prior Period End Date (Condensed Consolidated Balance Sheets)
• 0.7 — Raw Materials Value (Millions USD) (Other non-current assets as of March 31, 2024)
• 1.7 — Raw Materials Value (Millions USD) (Other non-current assets as of December 31, 2023)
• 2.4 — Prepaid Forward Obligation (Millions USD) (Other current liabilities as of March 31, 2024)
• 3.0 — Prepaid Forward Obligation (Millions USD) (Other current liabilities as of December 31, 2023)

Key Players & Entities

• UroGen Pharma Ltd. (company) — Filer
• Mark Schoenberg (person) — Chief Medical Officer
• $0.7 million (dollar_amount) — raw materials value as of March 31, 2024
• $1.7 million (dollar_amount) — raw materials value as of December 31, 2023
• $2.4 million (dollar_amount) — prepaid forward obligation as of March 31, 2024
• $3.0 million (dollar_amount) — prepaid forward obligation as of December 31, 2023

FAQ

Industry Context

UroGen Pharma Ltd. operates in the pharmaceutical preparations industry, focusing on developing and commercializing novel therapies.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Analyze the trend of raw materials and prepaid obligations in subsequent filings.
3. Compare UroGen Pharma's financial metrics with industry peers.

Key Dates

• 2024-03-31: Quarterly Period End — Reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date the 10-Q was filed with the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the first quarter of 2024, providing updated financial information compared to the previous fiscal year-end report.

Filing Documents

• urgn20240331_10q.htm (10-Q) — 1527KB
• ex_669308.htm (EX-10.1) — 12KB
• ex_669309.htm (EX-10.2) — 53KB
• ex_649855.htm (EX-31.1) — 17KB
• ex_649856.htm (EX-31.2) — 17KB
• ex_649857.htm (EX-32.1) — 6KB
• ex_649858.htm (EX-32.2) — 6KB
• 0001437749-24-016116.txt (&nbsp;) — 6579KB
• urgn-20240331.xsd (EX-101.SCH) — 67KB
• urgn-20240331_cal.xml (EX-101.CAL) — 45KB
• urgn-20240331_def.xml (EX-101.DEF) — 375KB
• urgn-20240331_lab.xml (EX-101.LAB) — 329KB
• urgn-20240331_pre.xml (EX-101.PRE) — 413KB
• urgn20240331_10q_htm.xml (XML) — 860KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statements of Shareholders ' Deficit 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION 33 Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 78 Item 3. Defaults Upon Senior Securities 78 Item 4. Mine Safety Disclosures 78 Item 5. Other Information 78 Item 6. Exhibits 79

Signatures

Signatures 80 Trademarks and Trade Names Unless the context requires otherwise, references in this Quarterly Report to the "Company," "UroGen," "we," "us" and "our" refer to UroGen Pharma Ltd. and its subsidiary, UroGen Pharma, Inc. UroGen , RTGel , and Jelmyto are trademarks of ours that we use in this Quarterly Report. This Quarterly Report also includes trademarks, tradenames, and service marks that are the property of other organizations. Solely for convenience, our trademarks and tradenames referred to in this Quarterly Report appear without the or symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights, or the right of the applicable licensor to our trademark and tradenames. We do not intend our use or display of other companies' trade names or trademarks to imply a relationship with, or endorsement or sponsorship of us by, any other companies. i Table of Contents

— Financial Information

Part I — Financial Information

Financial Statements

Item 1. Financial Statements. UroGen Pharma Ltd. Condensed Consolidated Balance Sheets (unaudited; in thousands, except share amounts and par value) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 131,439 $ 95,002 Marketable securities 32,606 41,966 Restricted cash 823 821 Accounts receivable 14,158 15,443 Inventories 7,243 5,673 Prepaid expenses and other current assets 10,491 10,281 Total current assets 196,760 169,186 Non-current assets: Property and equipment, net 566 689 Restricted deposit 226 225 Right of use assets 1,443 1,671 Marketable securities 481 4,502 Other non-current assets 1,098 2,038 Total Assets $ 200,574 $ 178,311 Liabilities and Shareholders' Deficit Current liabilities: Accounts payable and accrued expenses $ 18,158 $ 16,538 Employee related accrued expenses 4,985 10,814 Other current liabilities 3,197 3,860 Total current liabilities: 26,340 31,212 Non-current liabilities: Prepaid forward obligation 112,947 109,722 Long-term debt 97,590 98,551 Long-term lease liabilities 637 844 Uncertain tax positions liability 3,194 3,194 Total Liabilities 240,708 243,523 Commitments and Contingencies (Note 18) Shareholders' Deficit: Ordinary shares, NIS 0.01 par value, 100,000,000 shares authorized at March 31, 2024 and December 31, 2023; 36,127,687 and 32,490,119 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 99 89 Additional paid-in capital 671,438 614,035 Accumulated deficit ( 711,634 ) ( 679,348 ) Accumulated other comprehensive loss ( 37 ) 12 Total Shareholders' Deficit ( 40,134 ) ( 65,212 ) Total Liabilities and Shareholders' Deficit $ 200,574 $ 178,311 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Table of Contents UroGen Pharma Ltd. Condensed Consolidated Statements of Operations and Comprehensive Loss (unaud