2022 Q4 Form 10-Q Financial Statement

#000143774922026727 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $18.09M $16.10M $11.35M
YoY Change 11.86% 41.81% 227.97%
Cost Of Revenue $2.263M $2.020M $1.244M
YoY Change 42.42% 62.38% 302.59%
Gross Profit $15.83M $14.08M $10.11M
YoY Change 8.53% 39.28% 220.65%
Gross Profit Margin 87.49% 87.45% 89.04%
Selling, General & Admin $21.63M $19.07M $21.62M
YoY Change 1.01% -11.81% -2.0%
% of Gross Profit 136.67% 135.48% 213.95%
Research & Development $14.48M $13.09M $11.92M
YoY Change 10.66% 9.81% 16.77%
% of Gross Profit 91.46% 93.01% 117.97%
Depreciation & Amortization $236.0K $200.0K $200.0K
YoY Change 10.8% 0.0% 100.0%
% of Gross Profit 1.49% 1.42% 1.98%
Operating Expenses $36.11M $32.16M $33.55M
YoY Change 4.67% -4.12% 3.94%
Operating Profit -$20.28M -$18.09M -$23.44M
YoY Change 1.84% -22.84% -19.52%
Interest Expense -$2.817M -$2.253M $73.00K
YoY Change -14185.0% -3186.3% -81.28%
% of Operating Profit
Other Income/Expense, Net -$5.081M -$4.782M -$6.844M
YoY Change -31.52% -30.13% 8455.0%
Pretax Income -$28.18M -$25.12M -$30.21M
YoY Change 3.17% -16.84% 4.84%
Income Tax $69.00K $709.0K $0.00
% Of Pretax Income
Net Earnings -$28.25M -$25.83M -$30.21M
YoY Change -0.71% -14.5% 4.84%
Net Earnings / Revenue -156.14% -160.47% -266.15%
Basic Earnings Per Share -$1.13 -$1.35
Diluted Earnings Per Share -$1.22 -$1.133M -$1.350M
COMMON SHARES
Basic Shares Outstanding 23.09M 22.74M 22.38M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $99.96M $95.91M $106.2M
YoY Change 12.14% -9.7% -11.2%
Cash & Equivalents $55.41M $28.69M $55.34M
Short-Term Investments $44.56M $67.23M $50.87M
Other Short-Term Assets $11.91M $11.39M $7.339M
YoY Change 36.91% 55.23% 33.44%
Inventory $4.325M $4.862M $3.808M
Prepaid Expenses
Receivables $12.70M $9.429M $7.784M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $128.9M $121.6M $125.1M
YoY Change 12.69% -2.83% -3.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.297M $1.519M $1.978M
YoY Change -34.06% -23.21% 14.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $4.071M
YoY Change -100.0% -100.0% -31.0%
Other Assets $2.740M $2.471M $1.773M
YoY Change 109.0% 39.37% 491.0%
Total Long-Term Assets $6.712M $6.879M $9.463M
YoY Change 25.32% -27.31% -10.73%
TOTAL ASSETS
Total Short-Term Assets $128.9M $121.6M $125.1M
Total Long-Term Assets $6.712M $6.879M $9.463M
Total Assets $135.6M $128.5M $134.6M
YoY Change 13.26% -4.55% -3.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.527M $2.545M $4.060M
YoY Change -4.48% -37.32% -1.79%
Accrued Expenses $16.05M $14.38M $14.61M
YoY Change 11.85% -1.61% 8.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.92M $19.00M $19.81M
YoY Change 6.86% -4.07% 12.53%
LONG-TERM LIABILITIES
Long-Term Debt $97.54M $71.87M $0.00
YoY Change
Other Long-Term Liabilities $103.5M $100.9M $83.26M
YoY Change 16.38% 21.17% 4797.65%
Total Long-Term Liabilities $97.54M $71.87M $83.26M
YoY Change -13.68% 4797.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.92M $19.00M $19.81M
Total Long-Term Liabilities $97.54M $71.87M $83.26M
Total Liabilities $225.0M $191.8M $103.1M
YoY Change 102.08% 86.05% 431.27%
SHAREHOLDERS EQUITY
Retained Earnings -$577.1M -$548.2M -$438.9M
YoY Change 23.5% 24.9% 34.63%
Common Stock $487.9M $485.1M $470.4M
YoY Change 2.54% 3.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$89.36M -$63.29M $31.54M
YoY Change
Total Liabilities & Shareholders Equity $135.6M $128.5M $134.6M
YoY Change 13.26% -4.55% -3.79%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$28.25M -$25.83M -$30.21M
YoY Change -0.71% -14.5% 4.84%
Depreciation, Depletion And Amortization $236.0K $200.0K $200.0K
YoY Change 10.8% 0.0% 100.0%
Cash From Operating Activities -$21.75M -$17.61M -$18.48M
YoY Change 8.38% -4.68% -26.33%
INVESTING ACTIVITIES
Capital Expenditures $13.00K -$153.0K -$194.0K
YoY Change -106.44% -21.13% -70.61%
Acquisitions
YoY Change
Other Investing Activities $23.12M -$35.34M $10.85M
YoY Change 147.89% -425.59% -21.91%
Cash From Investing Activities $23.11M -$35.49M $10.66M
YoY Change 153.24% -432.95% -19.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.37M 1.101M -168.0K
YoY Change -79375.0% -755.36% -380.0%
NET CHANGE
Cash From Operating Activities -21.75M -17.61M -18.48M
Cash From Investing Activities 23.11M -35.49M 10.66M
Cash From Financing Activities 25.37M 1.101M -168.0K
Net Change In Cash 26.72M -52.00M -7.984M
YoY Change -343.45% 551.35% -32.28%
FREE CASH FLOW
Cash From Operating Activities -$21.75M -$17.61M -$18.48M
Capital Expenditures $13.00K -$153.0K -$194.0K
Free Cash Flow -$21.76M -$17.46M -$18.28M
YoY Change 9.55% -4.5% -25.14%

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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-267000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
31537000 usd
us-gaap Net Income Loss
NetIncomeLoss
-80914000 usd
us-gaap Net Income Loss
NetIncomeLoss
-82368000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
688000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
618000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
17756000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1077000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
679000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
704000 usd
us-gaap Inventory Write Down
InventoryWriteDown
615000 usd
us-gaap Inventory Write Down
InventoryWriteDown
0 usd
urgn Accrued Financing On Prepaid Forward Obligation
AccruedFinancingOnPrepaidForwardObligation
11019000 usd
urgn Accrued Financing On Prepaid Forward Obligation
AccruedFinancingOnPrepaidForwardObligation
8583000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
93000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-343000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
8212000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
645000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1844000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2288000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
737000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3104000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2749000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1000000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1573000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2746000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1032000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-323000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-3078000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-704000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-595000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-856000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-914000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-65807000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-64822000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
63009000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
51594000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2463000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
41202000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
44625000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
241000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
550000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22048000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5056000 usd
urgn Proceeds From Prepaid Forward Arrangement Net
ProceedsFromPrepaidForwardArrangementNet
0 usd
urgn Proceeds From Prepaid Forward Arrangement Net
ProceedsFromPrepaidForwardArrangementNet
72417000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1133000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
61000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
70793000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
160000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
127000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
71766000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
72351000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16089000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2473000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
45587000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54090000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29498000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
56563000 usd
urgn Non Cash New Lease Liabilities
NonCashNewLeaseLiabilities
2165000 usd
urgn Non Cash New Lease Liabilities
NonCashNewLeaseLiabilities
-36000 usd
urgn Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
IssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 usd
urgn Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
IssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
7000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Note <em style="font: inherit;">1</em> </b>–<b> Business and Nature of Operations</b></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b><i>Nature of Operations</i></b></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">UroGen Pharma Ltd. is an Israeli company incorporated in <em style="font: inherit;"> April 2004 (</em>“UPL”).</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">UroGen Pharma Inc., a wholly owned subsidiary of UPL, was incorporated in Delaware in <em style="font: inherit;"> October 2015 </em>and began operating in <em style="font: inherit;"> February 2016 (</em>“UPI”).</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">UPL and UPI (together the “Company”) is a biotechnology company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers. Since commencing operations, the Company has devoted substantially all of its efforts to securing intellectual property rights, performing research and development activities, including conducting clinical trials and manufacturing activities, hiring personnel, launching the Company’s <em style="font: inherit;">first</em> commercial product, <i>Jelmyto</i> (mitomycin) for pyelocalyceal solution, formerly known as UGN-<em style="font: inherit;">101,</em> clinical development of UGN-<em style="font: inherit;">102,</em> and raising capital to support and expand these activities.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">On <em style="font: inherit;"> April 15, 2020, </em>the U.S. Food and Drug Administration (“FDA”) granted expedited approval for <i>Jelmyto</i>, a <em style="font: inherit;">first</em>-in-class treatment indicated for adults with low-grade upper tract urothelial cancer (“low-grade UTUC”). <i>Jelmyto</i> consists of mitomycin, an established chemotherapy, and sterile hydrogel, using our proprietary sustained release RTGel technology. It has been designed to enable longer exposure of urinary tract tissue to mitomycin, thereby enabling the treatment of tumors by non-surgical means.</p>
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Note <em style="font: inherit;">2</em> </b>–<b> Basis of Presentation</b></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form <em style="font: inherit;">10</em>-Q and Article <em style="font: inherit;">10</em> of Regulation S-<em style="font: inherit;">X.</em> Accordingly, they do <em style="font: inherit;">not</em> include all the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals and adjustments) necessary for fair statement of its financial position, results of operations and cash flows of the Company at the dates and for the periods indicated. Interim results are <em style="font: inherit;">not</em> necessarily indicative of results for the full fiscal year. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does <em style="font: inherit;">not</em> include all disclosures required by accounting principles generally accepted in the United States. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto contained in the Company’s Annual Report on Form <em style="font: inherit;">10</em>-K for the year ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2021,</em> as filed with the Securities and Exchange Commission (“SEC”) on <em style="font: inherit;"> March 21, 2022.</em></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">The Company has experienced net losses since its inception and has an accumulated deficit o<span style="background-color:#ffffff;">f $548.2 </span>million and $467.3 million as of <em style="font: inherit;"> September 30, 2022</em> and <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2021,</em> respectively. The Company expects to incur losses and have negative net cash flows from operating activities as it executes on its strategy including engaging in further research and development activities, particularly conducting non-clinical studies and clinical trials.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">The success of the Company depends on the ability to successfully commercialize its technologies to support its operations and strategic plan. Based on management’s cash flow projections the Company believes that its cash and cash equivalents and marketable securities are sufficient to fund the Company’s planned operations for at least the next <em style="font: inherit;">12</em> months. The Company anticipates that it will need to raise additional capital in the future. There can be <em style="font: inherit;">no</em> assurances that the Company will be able to secure such additional financing if at all, or on terms that are satisfactory to the Company, and that it will be sufficient to meet its needs. In the event the Company is <em style="font: inherit;">not</em> successful in obtaining sufficient funding, this could force us to delay, limit, or reduce our product development, commercialization efforts or other operations.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-548200000 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-467300000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results <em style="font: inherit;"> may </em>differ from those estimates. As applicable to the unaudited condensed consolidated financial statements, the critical accounting estimates relate to the fair value of share-based compensation, measurement of revenue, estimate of uncertain tax positions, and measurement of liabilities accounted for under the interest method.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
95900000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b><i>Concentration of Credit Risk</i></b></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents and marketable securities. The primary objectives for the Company’s investment portfolio are the preservation of capital and the maintenance of liquidity. The Company does <em style="font: inherit;">not</em> enter into any investment transaction for trading or speculative purposes.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">The Company’s investment policy limits investments to certain types of instruments such as certificates of deposit, money market instruments, obligations issued by the U.S. government and U.S. government agencies as well as corporate debt securities, and places restrictions on maturities and concentration by type and issuer. The Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation and concentrated within a limited number of financial institutions. The accounts are monitored by management to mitigate the risk.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;">The Company’s product sales are recognized through the Company's arrangement with a single customer, a <em style="font: inherit;">third</em>-party national specialty distributor. The Company assesses the need for an allowance for doubtful accounts primarily based on creditworthiness, historical payment experience and general economic conditions. The Company has <em style="font: inherit;">not</em> experienced any credit losses related to this customer and has <em style="font: inherit;">not</em> currently recognized any allowance for doubtful accounts.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
2545000 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
5786000 usd
CY2022Q3 urgn Accrued Sales Reserve Current
AccruedSalesReserveCurrent
687000 usd
CY2021Q4 urgn Accrued Sales Reserve Current
AccruedSalesReserveCurrent
497000 usd
CY2022Q3 urgn Accrued Clinical Expense
AccruedClinicalExpense
2285000 usd
CY2021Q4 urgn Accrued Clinical Expense
AccruedClinicalExpense
1377000 usd
CY2022Q3 urgn Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
1118000 usd
CY2021Q4 urgn Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
1748000 usd
CY2022Q3 urgn Accrued Selling General And Administrative Expense
AccruedSellingGeneralAndAdministrativeExpense
2139000 usd
CY2021Q4 urgn Accrued Selling General And Administrative Expense
AccruedSellingGeneralAndAdministrativeExpense
1965000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
582000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
729000 usd
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9356000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
12102000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
469000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
345000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
135000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-76000 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
604000 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
269000 usd
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5100000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3894000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1863000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1958000 usd
CY2022Q3 urgn Inventory Current And Noncurrent Net
InventoryCurrentAndNoncurrentNet
6963000 usd
CY2021Q4 urgn Inventory Current And Noncurrent Net
InventoryCurrentAndNoncurrentNet
5852000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
67380000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
155000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
67225000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
64900000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
67225000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
44779000 usd
CY2022Q3 urgn Debt Securities Availableforsale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableforsaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
0 usd
CY2021Q4 urgn Debt Securities Availableforsale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableforsaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
675000 usd
CY2022Q3 us-gaap Investments
Investments
67225000 usd
CY2021Q4 us-gaap Investments
Investments
45454000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4433000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4193000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2914000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2226000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1519000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1967000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
200000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
700000 usd
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
200000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000 usd
CY2020Q4 urgn Prepaid Forward Obligation
PrepaidForwardObligation
75000000 usd
CY2021 urgn Capitalized Closing Costs On Prepaid Forward Obligation
CapitalizedClosingCostsOnPrepaidForwardObligation
2599000 usd
CY2021 urgn Financing On Prepaid Forward Obligation
FinancingOnPrepaidForwardObligation
17291000 usd
CY2021 urgn Decrease In Prepaid Forward Obligation Amounts Paid And Payable
DecreaseInPrepaidForwardObligationAmountsPaidAndPayable
3979000 usd
CY2021Q4 urgn Prepaid Forward Obligation
PrepaidForwardObligation
85713000 usd
urgn Financing On Prepaid Forward Obligation
FinancingOnPrepaidForwardObligation
16478000 usd
urgn Decrease In Prepaid Forward Obligation Amounts Paid And Payable
DecreaseInPrepaidForwardObligationAmountsPaidAndPayable
5999000 usd
CY2022Q3 urgn Prepaid Forward Obligation
PrepaidForwardObligation
96192000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
219000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
259000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
735000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
786000 usd
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
56000 usd
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
56000 usd
us-gaap Sublease Income
SubleaseIncome
168000 usd
us-gaap Sublease Income
SubleaseIncome
168000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
16000 usd
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
15000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
52000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
51000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
179000 usd
CY2021Q3 us-gaap Lease Cost
LeaseCost
218000 usd
us-gaap Lease Cost
LeaseCost
619000 usd
us-gaap Lease Cost
LeaseCost
669000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2666000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1180000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1856000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
398000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3926000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2734000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2606000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
135000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y11M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M4D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1021 pure
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0551 pure
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
300000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1161000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
918000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
799000 usd
CY2022Q3 urgn Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
49000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3227000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
431000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2796000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
61000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
251000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
49000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
0 usd
CY2022Q3 urgn Lessor Operating Lease Payment To Be Received After Year Three
LessorOperatingLeasePaymentToBeReceivedAfterYearThree
0 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
361000 usd
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
56000 usd
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
56000 usd
us-gaap Sublease Income
SubleaseIncome
168000 usd
us-gaap Sublease Income
SubleaseIncome
168000 usd
CY2021Q4 urgn Accrued Sales Reserve
AccruedSalesReserve
1708000 usd
urgn Sales Reserve Accruals
SalesReserveAccruals
8842000 usd
urgn Sales Reserve Utilization
SalesReserveUtilization
-8225000 usd
CY2022Q3 urgn Accrued Sales Reserve
AccruedSalesReserve
2325000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000.0
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23000000.0
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22500000
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3442209
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1601242
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2440000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5515000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8212000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17756000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12200000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M1D
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2800000 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
900000 usd

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