BiQ: Urogen @ Guggenheim (URGN)

I just finished listening to the URGN presentation at the Guggenheim SMID Cap Biotech Conference and wanted to get a quick note out to subscribers.

No new information was presented that wasn't already captured in the iQ Cheat Sheet posted yesterday for Premium Members; however, there was one correction. The current patents for JELMYTO and UGN-102 expire in 2031, not 2030, as was indicated in the iQCS. I will update the iQCS accordingly.

CEO Elizabeth Barrett did mention that the new patents for UGN-103/104 were recently approved, which is good news and provides patent protection through 2041. However, it's still unclear whether this will prevent generic competition for the current formulations of JELMYTO/UGN-102 by 2031. Still, this should give URGN a five to six-year runway to build their franchise.

I remain bullish in the N/MT but still believe caution is warranted for the LT once the existing patents expire.

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