2020 Q2 Form 10-Q Financial Statement

#000156459020038611 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $372.0K $18.00K $0.00
YoY Change 1966.67% -95.05% -100.0%
Cost Of Revenue $48.00K $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit $324.0K $18.00K $0.00
YoY Change 1700.0% -60.87% -100.0%
Gross Profit Margin 87.1% 100.0%
Selling, General & Admin $24.02M $13.78M $12.71M
YoY Change 74.36% 34.92% 109.34%
% of Gross Profit 7412.96% 76527.78%
Research & Development $8.106M $9.996M $9.730M
YoY Change -18.91% 20.83% 27.69%
% of Gross Profit 2501.85% 55533.33%
Depreciation & Amortization $100.0K $100.0K $100.0K
YoY Change 0.0% 110.35% -50.0%
% of Gross Profit 30.86% 555.56%
Operating Expenses $32.12M $23.77M $22.43M
YoY Change 35.14% 28.63% 63.85%
Operating Profit -$31.80M -$23.75M -$22.43M
YoY Change 33.88% 28.85% 64.46%
Interest Expense $520.0K $1.340M $1.010M
YoY Change -61.19% 226.83% 288.46%
% of Operating Profit
Other Income/Expense, Net -$70.00K -$70.00K -$20.00K
YoY Change 0.0%
Pretax Income -$31.35M -$22.48M -$21.44M
YoY Change 39.45% 24.68% 60.24%
Income Tax
% Of Pretax Income
Net Earnings -$31.35M -$22.48M -$21.44M
YoY Change 39.47% 24.69% 60.25%
Net Earnings / Revenue -8427.15% -124872.22%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.441M -$1.079M -$1.109M
COMMON SHARES
Basic Shares Outstanding 20.48M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.1M $189.2M $246.7M
YoY Change -33.87% 58.83% 93.49%
Cash & Equivalents $37.57M $90.42M $246.7M
Short-Term Investments $88.80M $98.74M
Other Short-Term Assets $3.300M $2.000M $1.600M
YoY Change 65.0% 66.67% 77.78%
Inventory $1.125M
Prepaid Expenses
Receivables $402.0K
Other Receivables $0.00
Total Short-Term Assets $129.9M $191.2M $248.3M
YoY Change -32.06% 58.4% 92.93%
LONG-TERM ASSETS
Property, Plant & Equipment $1.401M $909.0K $929.0K
YoY Change 54.13% 29.86% 54.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $26.50M $43.90M
YoY Change -39.64%
Other Assets $200.0K $2.557M $2.777M
YoY Change -92.18% 2457.0%
Total Long-Term Assets $31.20M $47.37M $3.757M
YoY Change -34.14% 5821.5% 436.71%
TOTAL ASSETS
Total Short-Term Assets $129.9M $191.2M $248.3M
Total Long-Term Assets $31.20M $47.37M $3.757M
Total Assets $161.1M $238.6M $252.1M
YoY Change -32.47% 96.35% 94.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.598M $2.101M $1.700M
YoY Change 118.85% -63.14% -57.5%
Accrued Expenses $11.80M $9.700M $8.600M
YoY Change 21.65% 340.91% 561.54%
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 $16.42M $11.84M $10.28M
YoY Change 38.66% 48.05% 86.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.000M $1.900M $2.200M
YoY Change 5.26%
Total Long-Term Liabilities $2.000M $1.943M $2.184M
YoY Change 2.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.42M $11.84M $10.28M
Total Long-Term Liabilities $2.000M $1.943M $2.184M
Total Liabilities $18.42M $13.79M $12.46M
YoY Change 33.58% 72.34% 126.56%
SHAREHOLDERS EQUITY
Retained Earnings -$297.2M -$166.8M -$144.3M
YoY Change 78.18%
Common Stock $439.1M $57.00K $56.00K
YoY Change 770178.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $142.7M $224.8M $239.6M
YoY Change
Total Liabilities & Shareholders Equity $161.1M $238.6M $252.1M
YoY Change -32.48% 96.35% 94.79%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$31.35M -$22.48M -$21.44M
YoY Change 39.47% 24.69% 60.25%
Depreciation, Depletion And Amortization $100.0K $100.0K $100.0K
YoY Change 0.0% 110.35% -50.0%
Cash From Operating Activities -$23.92M -$14.56M -$17.93M
YoY Change 64.29% 78.65% 86.35%
INVESTING ACTIVITIES
Capital Expenditures -$280.0K -$40.00K $44.00K
YoY Change 600.0% -69.23% -38.89%
Acquisitions
YoY Change
Other Investing Activities $17.80M -$142.2M $0.00
YoY Change -112.52% 284200.0% -100.0%
Cash From Investing Activities $17.51M -$142.2M -$44.00K
YoY Change -112.31% 78894.44% -100.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $162.0M
YoY Change 152.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.30M 370.0K 163.5M
YoY Change 4305.41% -1950.0% 154.46%
NET CHANGE
Cash From Operating Activities -23.92M -14.56M -17.93M
Cash From Investing Activities 17.51M -142.2M -44.00K
Cash From Financing Activities 16.30M 370.0K 163.5M
Net Change In Cash 9.890M -156.4M 145.5M
YoY Change -106.32% 1772.81% 60.87%
FREE CASH FLOW
Cash From Operating Activities -$23.92M -$14.56M -$17.93M
Capital Expenditures -$280.0K -$40.00K $44.00K
Free Cash Flow -$23.64M -$14.52M -$17.98M
YoY Change 62.81% 81.05% 85.42%

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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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<span style="color:#000000;">’</span>s investment portfolio are the preservation of capital and the maintenance of liquidity. The Company does not enter into any investment transaction for trading or speculative purposes.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company<span style="color:#000000;">’</span>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="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s product sales are recognized through the Company's arrangement with a single customer, a third-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 not experienced any credit losses related to this customer and has not currently recognized any allowance for doubtful accounts.</p>
us-gaap Nature Of Operations
NatureOfOperations
<p id="NOTE_1BUSINESS_NATURE_OPERATIONS" style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1-BUSINESS AND NATURE OF OPERATIONS</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Nature of Operations</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">UroGen<span style="letter-spacing:0.65pt;"> </span>Pharma<span style="letter-spacing:0.65pt;"> </span>Ltd.<span style="letter-spacing:0.4pt;"> </span>is<span style="letter-spacing:0.15pt;"> </span>an<span style="letter-spacing:0.25pt;"> </span>Israeli<span style="letter-spacing:0.5pt;"> </span>company<span style="letter-spacing:0.75pt;"> </span>incorporated<span style="letter-spacing:1pt;"> </span>in<span style="letter-spacing:0.2pt;"> </span>April<span style="letter-spacing:0.4pt;"> </span>20<span style="letter-spacing:-0.1pt;">0</span>4<span style="letter-spacing:0.45pt;"> </span>(“UPL”). </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">UroGen<span style="letter-spacing:0.65pt;"> </span>Pharma<span style="letter-spacing:0.65pt;"> </span>Inc.,<span style="letter-spacing:0.35pt;"> </span>a<span style="letter-spacing:0.15pt;"> wholly owned </span>subsidiary<span style="letter-spacing:0.8pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>UPL,<span style="letter-spacing:0.45pt;"> </span>was<span style="letter-spacing:0.35pt;"> </span>incorporated<span style="letter-spacing:1pt;"> </span>in<span style="letter-spacing:0.2pt;"> </span>Del<span style="letter-spacing:-0.1pt;">a</span>ware<span style="letter-spacing:0.75pt;"> </span>in<span style="letter-spacing:0.2pt;"> </span>October<span style="letter-spacing:0.65pt;"> </span>2015<span style="letter-spacing:0.45pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>began<span style="letter-spacing:0.5pt;"> </span>operati<span style="letter-spacing:-0.1pt;">n</span>g<span style="letter-spacing:0.75pt;"> </span>in<span style="letter-spacing:0.2pt;"> </span>February<span style="letter-spacing:0.75pt;"> </span>2016<span style="letter-spacing:0.45pt;"> </span>(“UPI”). </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">UPL<span style="letter-spacing:0.4pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>UPI<span style="letter-spacing:0.35pt;"> </span>(together<span style="letter-spacing:0.75pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>“Company”)<span style="letter-spacing:0.95pt;"> </span>is<span style="letter-spacing:0.15pt;"> </span>a<span style="letter-spacing:0.45pt;"> </span>bi<span style="letter-spacing:-0.1pt;">o</span>pharmaceutical<span style="letter-spacing:1.45pt;"> </span>company<span style="letter-spacing:0.75pt;"> </span>focused<span style="letter-spacing:0.65pt;"> </span>on<span style="letter-spacing:0.25pt;"> </span>deve<span style="letter-spacing:-0.1pt;">l</span>oping and commercializing<span style="letter-spacing:0.85pt;"> </span>novel<span style="letter-spacing:0.45pt;"> </span>therapies<span style="letter-spacing:0.75pt;"> </span>desi<span style="letter-spacing:-0.1pt;">g</span>ned<span style="letter-spacing:0.75pt;"> </span>to change<span style="letter-spacing:0.65pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>standard<span style="letter-spacing:0.7pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>care<span style="letter-spacing:0.4pt;"> </span>for<span style="letter-spacing:0.25pt;"> </span>urological<span style="letter-spacing:0.8pt;"> </span>pathologies. 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, preparing for the commercial launch of our first commercial product, Jelmyto (mitomycin), formerly known as UGN-101, and our product candidate UGN-102, and raising capital to support and expand these activities. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 15, 2020, the U.S. Food and Drug Administration (“FDA”) granted expedited approval for Jelmyto (mitomycin), for pyelocalyceal solution, a first-in-class treatment indicated for adults with low-grade upper tract urothelial cancer (“LG-UTUC”). . Jelmyto 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> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:6pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </p>
urgn Entity Incorporation Date Of Incorporation Month And Year
EntityIncorporationDateOfIncorporationMonthAndYear
2004-04
urgn Operations Commenced Date Month And Year
OperationsCommencedDateMonthAndYear
2016-02
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">NOTE 2-BASIS OF PRESENTATION</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 10-Q and Article 10 of Regulation S-X. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not 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 not 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 not 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 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission (“SEC”) on March 2, 2020.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The consolidated financial statements include the accounts of UPL and its wholly owned subsidiary UPI. All material intercompany balances and transactions have been eliminated during consolidation.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has experienced net losses since its inception and has an accumulated deficit of $297.2 million and $228.0 million as of June 30, 2020 and December 31, 2019, respectively. The Company expects to incur losses and have negative net cash flows from operating activities as it continues its commercial launch of Jelmyto, and expands its portfolio and engages in further research and development activities, particularly conducting nonclinical studies and clinical trials.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The success of the Company depends on its ability to develop its technologies to the point of U.S. Food and Drug Administration (<span style="color:#000000;">“</span>FDA<span style="color:#000000;">”</span>) approval and subsequent revenue generation and, the Company must raise enough capital to finance these efforts. 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 12 months. However, in the future, the Company may need to raise additional capital to finance the continued operating and capital requirements of the Company. There can be no assurances that the Company will be able to secure such additional financing, or if available, that it will be sufficient to meet its needs. If the Company cannot obtain adequate working capital, it may be forced to reevaluate its planned business operations.</p>
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-297200000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-228000000.0
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The<span style="letter-spacing:0.35pt;"> </span>preparation<span style="letter-spacing:0.9pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>financial<span style="letter-spacing:0.65pt;"> </span>statements<span style="letter-spacing:0.9pt;"> </span>in<span style="letter-spacing:0.2pt;"> </span>conformity<span style="letter-spacing:0.85pt;"> </span>with<span style="letter-spacing:0.35pt;"> </span>GAAP<span style="letter-spacing:0.5pt;"> </span>requires<span style="letter-spacing:0.65pt;"> </span>man<span style="letter-spacing:-0.1pt;">a</span>gement<span style="letter-spacing:1.05pt;"> </span>to<span style="letter-spacing:0.2pt;"> </span>make<span style="letter-spacing:0.45pt;"> </span>estimates<span style="letter-spacing:0.8pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>assumptions<span style="letter-spacing:1pt;"> </span>that<span style="letter-spacing:0.35pt;"> </span>affect the<span style="letter-spacing:0.05pt;"> </span>reported<span style="letter-spacing:0.7pt;"> </span>amounts<span style="letter-spacing:0.7pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>assets<span style="letter-spacing:0.6pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>liabilities,<span style="letter-spacing:0.75pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>disclosure<span style="letter-spacing:0.8pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>cont<span style="letter-spacing:-0.1pt;">i</span>ngent<span style="letter-spacing:0.85pt;"> </span>assets<span style="letter-spacing:0.55pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>liabilities<span style="letter-spacing:0.7pt;"> </span>at<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>date<span style="letter-spacing:0.4pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>financ<span style="letter-spacing:-0.1pt;">i</span>al<span style="letter-spacing:0.65pt;"> </span>statements<span style="letter-spacing:0.9pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>the reported<span style="letter-spacing:0.7pt;"> </span>amounts<span style="letter-spacing:0.7pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>revenues<span style="letter-spacing:0.75pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>expenses<span style="letter-spacing:0.8pt;"> </span>duri<span style="letter-spacing:-0.1pt;">n</span>g<span style="letter-spacing:0.5pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>reporting<span style="letter-spacing:0.7pt;"> </span>period.<span style="letter-spacing:0.55pt;"> </span>Actual<span style="letter-spacing:0.5pt;"> </span>results<span style="letter-spacing:0.55pt;"> </span>may<span style="letter-spacing:0.35pt;"> </span>differ<span style="letter-spacing:0.45pt;"> </span>from<span style="letter-spacing:0.4pt;"> </span>those<span style="letter-spacing:0.45pt;"> </span>estimates.<span style="letter-spacing:0.8pt;"> </span>As<span style="letter-spacing:0.25pt;"> </span>applicable<span style="letter-spacing:0.9pt;"> </span>to the unaudited condensed<span style="letter-spacing:0.45pt;"> </span>consolidated<span style="letter-spacing:1pt;"> </span>financi<span style="letter-spacing:-0.1pt;">a</span>l<span style="letter-spacing:0.65pt;"> </span>statements,<span style="letter-spacing:0.95pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>most<span style="letter-spacing:0.4pt;"> </span>significant<span style="letter-spacing:0.8pt;"> </span>estimates<span style="letter-spacing:0.8pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>assumptions<span style="letter-spacing:1pt;"> </span>relate<span style="letter-spacing:0.45pt;"> </span>to<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.3pt;"> </span>fair<span style="letter-spacing:0.3pt;"> </span>value<span style="letter-spacing:0.45pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>share-based<span style="letter-spacing:1pt;"> </span>compensat<span style="letter-spacing:-0.1pt;">i</span>on<span style="letter-spacing:0.55pt;"> </span>and<span style="letter-spacing:0.35pt;"> </span>measurement<span style="letter-spacing:0.5pt;"> </span>of<span style="letter-spacing:0.2pt;"> </span>revenue.</p>
CY2020Q2 urgn Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
151600000
CY2020Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
4598000
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
4694000
CY2020Q2 urgn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
409000
CY2019Q4 urgn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
399000
CY2020Q2 urgn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
1358000
CY2019Q4 urgn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
2644000
CY2020Q2 urgn Accrued Selling General And Administrative Expense Current
AccruedSellingGeneralAndAdministrativeExpenseCurrent
2240000
CY2019Q4 urgn Accrued Selling General And Administrative Expense Current
AccruedSellingGeneralAndAdministrativeExpenseCurrent
2767000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
598000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
682000
CY2020Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9203000
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
11186000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1331000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2353000
urgn Other Finance Expenses Income
OtherFinanceExpensesIncome
-112000
urgn Other Finance Expenses Income
OtherFinanceExpensesIncome
-88000
urgn Finance Income Expense Net
FinanceIncomeExpenseNet
1219000
urgn Finance Income Expense Net
FinanceIncomeExpenseNet
2265000
CY2020Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
893000
CY2020Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
232000
CY2020Q2 us-gaap Inventory Net
InventoryNet
1125000
CY2020Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q2 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2020Q2 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
135470000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
760000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
136230000
CY2020Q2 us-gaap Interest Receivable
InterestReceivable
500000
CY2020Q2 urgn Debt Securities Available For Sale Unrealized Gain Position
DebtSecuritiesAvailableForSaleUnrealizedGainPosition
800000
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
17600000
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
10
us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesPortionRecognizedInEarnings
0
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
109732000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
114386000
CY2020Q2 urgn Available For Sale Securities Debt Maturities After One Through Three Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughThreeYearsFairValue
26498000
CY2019Q4 urgn Available For Sale Securities Debt Maturities After One Through Three Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughThreeYearsFairValue
48556000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
136230000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
162942000
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2574000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1975000
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1173000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
998000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1401000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
977000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
200000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
100000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
UPL signed an addendum to its November 2014 lease agreement for the Company’s executive offices located in Israel, in order to increase the office space rented and to extend the rent period until 2019. In March 2019, UPL utilized the agreement extension option and extended the rent period for additional three years until August 2022.
CY2020Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
urgn Lessee Operating Lease Extended Lease Expiration Date Month And Year
LesseeOperatingLeaseExtendedLeaseExpirationDateMonthAndYear
2022-08
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
428000
us-gaap Operating Lease Cost
OperatingLeaseCost
858000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
56000
us-gaap Sublease Income
SubleaseIncome
112000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
30000
us-gaap Variable Lease Cost
VariableLeaseCost
86000
CY2020Q2 us-gaap Lease Cost
LeaseCost
402000
us-gaap Lease Cost
LeaseCost
832000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3011000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1994000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1476000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
us-gaap Operating Lease Payments
OperatingLeasePayments
849000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
90000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M18D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0545
CY2020Q2 urgn Lessee Operating Sub Lease Payments To Be Received Remainder Of Fiscal Year
LesseeOperatingSubLeasePaymentsToBeReceivedRemainderOfFiscalYear
61000
CY2020Q2 urgn Lessee Operating Sub Lease Payments To Be Received Two Years
LesseeOperatingSubLeasePaymentsToBeReceivedTwoYears
235000
CY2020Q2 urgn Lessee Operating Sub Lease Payments To Be Received Three Years
LesseeOperatingSubLeasePaymentsToBeReceivedThreeYears
243000
CY2020Q2 urgn Lessee Operating Sub Lease Payments To Be Received Four Years
LesseeOperatingSubLeasePaymentsToBeReceivedFourYears
251000
CY2020Q2 urgn Lessee Operating Sub Lease Payments To Be Received Five Years
LesseeOperatingSubLeasePaymentsToBeReceivedFiveYears
49000
CY2020Q2 urgn Lessee Operating Sub Lease Payments To Be Received
LesseeOperatingSubLeasePaymentsToBeReceived
839000
CY2020Q2 urgn Lessee Operating Sub Lease Income From Fixed Lease Payments
LesseeOperatingSubLeaseIncomeFromFixedLeasePayments
56000
urgn Lessee Operating Sub Lease Income From Fixed Lease Payments
LesseeOperatingSubLeaseIncomeFromFixedLeasePayments
112000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
372000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
372000
urgn Payment On License Agreement Milestone In Acquired In Process Research And Development Expenses
PaymentOnLicenseAgreementMilestoneInAcquiredInProcessResearchAndDevelopmentExpenses
10000000.0
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000.0
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000.0
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22000000.0
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22000000.0
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
21000000.0
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21000000.0
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7212000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14736000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14659000
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42300000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M25D

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