ZUSDURI's accelerating launch trajectory (109% QoQ) validates the blockbuster thesis and drives the beat. Watch for continued site-of-care expansion and repeat prescriber growth in Q2. The maintained JELMYTO guidance and controlled OpEx provide a clean setup. Key catalysts ahead: UGN-103 NDA submission (H2 2026) and AUA KOL panel on May 17.
Price Chart
Executive Summary
UroGen reported Q1 2026 total revenue of $51.0M (+152% YoY), driven by ZUSDURI's launch ($29.2M, +109% QoQ) and JELMYTO growth ($21.7M, +7% YoY). Net loss narrowed to $23.6M ($0.47/share) from $43.8M ($0.92/share) a year ago, beating the consensus EPS estimate of -$0.48. The company maintained JELMYTO revenue guidance of $97-101M and operating expense guidance of $240-250M for 2026.
Key Financial Metrics
Key Facts
- Total revenue $51.0M vs $20.3M YoY (+152%), beating consensus $44.8M
- ZUSDURI net product revenue $29.2M in first full quarter of launch (109% QoQ growth)
- JELMYTO revenue $21.7M (+7% YoY), in line with full-year guidance of $97-101M
- Net loss $23.6M ($0.47/share) vs consensus -$0.48 — a beat
- Cash and equivalents $140.3M; $200M debt facility from Pharmakon refinanced existing debt
- UGN-103 NDA submission on track for H2 2026; UGN-104 Phase 3 enrollment expected by end of 2026
- 972 activated sites of care, 256 unique ZUSDURI prescribers as of March 31, 2026
Financial Impact
Revenue beat consensus by $6.2M (13.8%); EPS beat consensus by $0.01 (2.1%)
Risk Factors
- ZUSDURI adoption may decelerate as early adopter pool saturates
- SG&A expenses rose 47% YoY to $51.5M, outpacing revenue growth rate
- Shareholders' deficit of $124.3M; reliance on debt financing for operations
- UGN-103/104 clinical and regulatory timelines could slip
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3288758 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 23d ago | Insider Cluster | $45.00 $43.04 | ▼ −4.36% | ▼ −4.02% | $41.40 (−8.00%) |
Aug 20, 2026 6w ago | 8-K | $46.80 $45.50 | ▼ −2.78% | ▼ −3.89% | $41.40 (−11.54%) |
Aug 5, 2026 8w ago | 8-K | $46.43 $49.00 | ▲ +5.54% | ▲ +5.18% | $41.40 (−10.83%) |
Jun 23, 2026 14w ago | 8-K | $35.42 $37.94 | ▲ +7.11% | ▲ +5.41% | $41.40 (+16.88%) |
Jun 2, 2026 17w ago | 8-K | $26.54 $28.18 | ▲ +6.18% | ▲ +9.14% | $41.40 (+55.99%) |
May 6, 2026 21w ago | Press Release | $26.25 $29.80 | ▲ +13.52% | ▲ +12.39% | $41.40 (+57.71%) |
Apr 29, 2026 22w ago | Press Release | $23.34 $23.83 | ▼ −2.10% | ▲ +1.01% | $41.40 (−77.38%) |
Mar 2, 2026 30w ago | Press Release | $19.02 $19.91 | ▲ +4.68% | ▲ +5.89% | $41.40 (+117.67%) |
Mar 2, 2026 30w ago | Press Release | $19.02 $19.91 | ▲ +4.68% | ▲ +5.89% | $41.40 (+117.67%) |
US Market Status
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