UroGen Pharma Reveals Initial Findings from Phase 3 UTOPIA Study
Trial Results: UroGen Pharma's Phase 3 UTOPIA trial shows a 77.8% three-month complete response rate for UGN-103 in patients with recurrent low-grade intermediate-risk non-muscle invasive bladder cancer.
Comparison with Previous Trials: The results are comparable to the 79.6% complete response rate seen with ZUSDURI in the ENVISION trial.
FDA Agreement: The U.S. FDA has agreed that the complete response and durability results from the UTOPIA trial can support a New Drug Application for UGN-103.
Implications for Treatment: These findings suggest potential advancements in treatment options for patients with this type of bladder cancer.
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Wildcat Capital Exits UroGen Pharma Position, Liquidating Approximately $6.79 Million
- Complete Exit: Wildcat Capital Management disclosed in an SEC filing on November 13 that it sold all 495,606 shares of UroGen Pharma, liquidating approximately $6.79 million, which reduces its investment stake from 4% to 0%.
- Stock Performance: UroGen Pharma's shares have surged 113% over the past year, currently priced at $23.52, significantly outperforming the overall market, which has only risen 15%, indicating strong performance in the biotech sector.
- Investment Background: Founded in 2011 as the single-family office of billionaire investor David Bonderman, Wildcat has historically favored concentrated investments over short-term trading, making this exit appear more like disciplined capital recycling rather than a lack of confidence in the company.
- Future Outlook: While UroGen's Jelmyto remains its commercial anchor and the pipeline targets significant unmet needs in urothelial cancers, the volatility in biotech stocks suggests that this exit may signal that investors believe the best returns have already been realized.
Significant Options Trading on Wednesday: UTHR, URGN, DSGN
UroGen Pharma Options Activity: UroGen Pharma Ltd (URGN) has seen a significant options volume of 20,539 contracts today, equating to about 2.1 million underlying shares, which is 192% of its average daily trading volume over the past month.
High Volume Call Option for URGN: The $24 strike call option expiring on February 20, 2026, has particularly high activity with 10,010 contracts traded, representing approximately 1.0 million underlying shares.
Design Therapeutics Options Activity: Design Therapeutics Inc (DSGN) has recorded an options volume of 5,000 contracts today, representing around 500,000 underlying shares, which is 164.8% of its average daily trading volume over the past month.
High Volume Call Option for DSGN: The $9 strike call option expiring on January 16, 2026, has seen all 5,000 contracts traded today, corresponding to approximately 500,000 underlying shares.
