UroGen Pharma Announces Commencement of Public Offering of Ordinary Shares and Pre-Funded Warrants
18 June 2024 - 6:46AM
UroGen Pharma Ltd. (Nasdaq: URGN), a biotech company dedicated to
developing and commercializing innovative solutions that treat
urothelial and specialty cancers, today announced that it has
commenced an underwritten public offering, subject to market and
other conditions, to issue and sell its ordinary shares and
pre-funded warrants. In connection with the proposed offering,
UroGen also expects to grant the underwriters a 30-day option to
purchase up to an additional 15% of the total number of ordinary
shares (including those underlying pre-funded warrants) offered in
the public offering. There can be no assurance as to whether or
when the proposed offering may be completed, or as to the actual
size or terms of the proposed offering. All of the ordinary shares
and pre-funded warrants to be sold in the proposed offering will be
offered by UroGen.
TD Cowen and Guggenheim Securities are acting as joint
book-running managers for the proposed offering. Oppenheimer &
Co. is acting as lead manager for the proposed offering. Ladenburg
Thalmann is acting as co-manager for the proposed offering.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3, including a base prospectus,
filed with the Securities and Exchange Commission (the “SEC”) and
declared effective on November 29, 2022. A preliminary prospectus
supplement and accompanying prospectus relating to the proposed
offering will be filed with the SEC and will be available on the
SEC’s website at www.sec.gov. Copies of the preliminary prospectus
supplement (when available) and accompanying prospectus may be
obtained by contacting TD Securities (USA) LLC, 1 Vanderbilt
Avenue, New York, NY 10017, by telephone at (855) 495-9846 or by
email at TD.ECM_Prospectus@tdsecurities.com; or Guggenheim
Securities, LLC, Attention: Equity Syndicate Department, 330
Madison Avenue, New York, NY 10017, telephone: (212) 518-5548,
email: GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction.
About UroGen Pharma Ltd.
UroGen is a biotech company dedicated to developing and
commercializing innovative solutions that treat urothelial and
specialty cancers because patients deserve better options. UroGen
has developed RTGel® reverse-thermal hydrogel, a proprietary
sustained-release, hydrogel-based platform technology that has the
potential to improve the therapeutic profiles of existing drugs.
UroGen’s sustained release technology is designed to enable longer
exposure of the urinary tract tissue to medications, making local
therapy a potentially more effective treatment option. Our first
product to treat low-grade upper tract urothelial cancer and
investigational treatment UGN-102 (mitomycin) for intravesical
solution for patients with low-grade non-muscle invasive bladder
cancer are designed to ablate tumors by non-surgical means. UroGen
is headquartered in Princeton, NJ with operations in Israel.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995, including without limitation statements regarding, among
other things, UroGen’s expectations about the completion and timing
of the proposed offering; UroGen’s expectations with respect to
granting the underwriters a 30-day option to purchase additional
shares; the potential for RTGel® to improve the therapeutic
profiles of existing drugs; and the potential of UroGen’s sustained
release technology to make local delivery more effective as
compared to other treatment options. The words “expects,”
“potential,” “proposed,” “may,” “will,” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Actual
results or events could differ materially from the plans,
intentions and expectations disclosed in these forward-looking
statements as a result of various important factors, including
risks relating to UroGen’s inability, or the inability of
underwriters, to satisfy the conditions to closing for the proposed
offering; uncertainties associated with UroGen’s ongoing and
planned clinical trials; UroGen’s RTGel® technology may not perform
as expected; UroGen may not successfully develop and receive
regulatory approval of any other product that incorporates RTGel®
technology; the impacts of general macroeconomic and geopolitical
conditions, high inflation, and uncertain credit and financial
markets on UroGen’s business, clinical trials, and financial
position; and other risks and uncertainties that are described in
the Risk Factors section of UroGen’s Quarterly Report on Form 10-Q
for the quarter ended March 31, 2024, filed with the SEC on May 13,
2024, and other filings UroGen makes with the SEC from time to
time. The events and circumstances discussed in such
forward-looking statements may not occur, and UroGen’s actual
results could differ materially and adversely from those
anticipated or implied thereby. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and UroGen expressly disclaims any obligation to update any
forward-looking statements, whether because of new information,
future events or otherwise.
INVESTOR CONTACT:Vincent PerroneSenior
Director, Investor Relationsvincent.perrone@urogen.com609-460-3588
ext. 1093
MEDIA CONTACT:Cindy RomanoDirector, Corporate
Communicationscindy.romano@urogen.com609-460-3583 ext. 1083
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