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UroGen Pharma Investor Event Reinforced Zusduri Commercial Thesis, Oppenheimer Says
UroGen Pharma's (URGN) investor event reinforced the commercial thesis for Zusduri in low-grade intermediate-risk non-muscle invasive bladder cancer, with the physician panel suggesting that peers may face tough competition unless they can offer overwhelmingly better efficacy, Oppenheimer said Tuesday.The physician panel said Zusduri has a competitive advantage since it is first to market, requires no biomarker testing, can be used without transurethral resection of bladder tumor or TURBT surgery, and has a finite six-dose treatment course, according to the note.One panelist argued that Zusduri offers better long-term durability than surgery, with roughly a 65% chance of no tumor recurrence at three years, something TURBT cannot offer, the brokerage said.The treatment seems operationally feasible and reimbursement concerns are easing, but Medicare Advantage plans remain a risk because clinics could still lose money despite the drug being officially covered, the brokerage added.Oppenheimer's above-consensus Zusduri revenue estimates for 2026 to 2030 of $204 million, $411 million, $595 million, $771 million, and $931 million remain unchanged.The brokerage kept an outperform rating on UroGen Pharma with a price target of $40.Price: $27.64, Change: $-0.94, Percent Change: -3.29%
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