STOCK TITAN

UroGen Appoints Chris Degnan as Chief Financial Officer

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management

UroGen Pharma (Nasdaq: URGN) has appointed Chris Degnan as its new Chief Financial Officer, succeeding Don Kim. Degnan brings extensive experience as a publicly traded biotech CFO, with expertise in financial strategy, investor relations, SEC reporting, accounting, and compliance. He joins UroGen from previous roles at Galera Therapeutics and Verrica Pharmaceuticals.

As part of his appointment, Degnan received an inducement grant of restricted stock units covering 13,450 ordinary shares and a stock option to purchase up to 74,142 ordinary shares at an exercise price of $13.11. These awards will vest over three years, subject to Degnan's continued service with UroGen.

UroGen's CEO, Liz Barrett, expressed confidence in Degnan's ability to contribute to the company's growth, particularly as they prepare to launch UGN-102, a potential first-in-class product for the treatment of low-grade intermediate-risk non-muscle-invasive bladder cancer (LG-IR-NMIBC).

UroGen Pharma (Nasdaq: URGN) ha nominato Chris Degnan come nuovo Chief Financial Officer, succedendo a Don Kim. Degnan porta con sé una vasta esperienza come CFO in aziende biotech quotate in borsa, con competenze in strategia finanziaria, relazioni con gli investitori, reporting SEC, contabilità e conformità. Arriva a UroGen dopo aver ricoperto ruoli presso Galera Therapeutics e Verrica Pharmaceuticals.

Come parte della sua nomina, Degnan ha ricevuto un assegno di inducimento di unità azionarie ristrette che coprono 13.450 azioni ordinarie e un'opzione su azioni per acquistare fino a 74.142 azioni ordinarie a un prezzo di esercizio di $13.11. Questi premi si matureranno nell'arco di tre anni, soggetti alla continua collaborazione di Degnan con UroGen.

Il CEO di UroGen, Liz Barrett, ha espresso fiducia nella capacità di Degnan di contribuire alla crescita dell'azienda, in particolare mentre si preparano a lanciare UGN-102, un potenziale prodotto di prima classe per il trattamento del carcinoma vescicale non muscolo-invasivo a basso grado e a rischio intermedio (LG-IR-NMIBC).

UroGen Pharma (Nasdaq: URGN) ha nombrado a Chris Degnan como su nuevo Director Financiero, sucediendo a Don Kim. Degnan aporta una amplia experiencia como CFO de biotecnológicas que cotizan en bolsa, con conocimientos en estrategia financiera, relaciones con inversores, informes a la SEC, contabilidad y cumplimiento. Se une a UroGen después de ocupar puestos en Galera Therapeutics y Verrica Pharmaceuticals.

Como parte de su nombramiento, Degnan recibió una subvención de inducción de unidades de acciones restringidas que cubren 13,450 acciones ordinarias y una opción de compra de hasta 74,142 acciones ordinarias a un precio de ejercicio de $13.11. Estas recompensas se devengarán durante tres años, sujeto al servicio continuo de Degnan en UroGen.

La CEO de UroGen, Liz Barrett, expresó confianza en la capacidad de Degnan para contribuir al crecimiento de la empresa, especialmente mientras se preparan para lanzar UGN-102, un posible producto de primera clase para el tratamiento del cáncer de vejiga no invasivo de músculo bajo riesgo intermedio (LG-IR-NMIBC).

UroGen Pharma (Nasdaq: URGN)Chris Degnan을 새로운 최고 재무 책임자로 임명하며 Don Kim을 후임으로 합니다. Degnan은 재무 전략, 투자자 관계, SEC 보고, 회계 및 규정 준수에 대한 전문성을 갖춘 상장 생명공학 회사의 CFO로서 폭넓은 경험을 가지고 있습니다. 그는 Galera Therapeutics와 Verrica Pharmaceuticals에서 근무한 경력을 가지고 UroGen에 합류합니다.

임명과 함께 Degnan은 13,450주에 해당하는 제한 주식 단위와 74,142주의 보통주를 $13.11의 행사가로 구매할 수 있는 주식 옵션을 포함한 유인 보상을 받았습니다. 이러한 보상은 Degnan이 UroGen에서 계속 근무하는 조건으로 3년 동안 분할 지급됩니다.

UroGen의 CEO인 Liz Barrett는 Degnan이 회사의 성장에 기여할 수 있다는 확신을 나타내며, 특히 저등급 중간 위험 비근육 침습성 방광암(LG-IR-NMIBC) 치료를 위한 잠재적 1류 제품 UGN-102의 출시를 준비하는 동안 그렇다고 밝혔습니다.

UroGen Pharma (Nasdaq: URGN) a nommé Chris Degnan en tant que nouveau Directeur Financier, succédant à Don Kim. Degnan apporte une expérience considérable en tant que CFO d'une biotech cotée en bourse, avec une expertise en stratégie financière, relations avec les investisseurs, reporting auprès de la SEC, comptabilité et conformité. Il rejoint UroGen après avoir occupé des postes chez Galera Therapeutics et Verrica Pharmaceuticals.

Dans le cadre de sa nomination, Degnan a reçu un octroi d'incitation sous forme d'unités d'actions restreintes couvrant 13 450 actions ordinaires et une option d'achat pour acquérir jusqu'à 74 142 actions ordinaires à un prix d'exercice de 13,11 $. Ces récompenses seront acquises sur trois ans, sous réserve de la continuité de son service chez UroGen.

La PDG d'UroGen, Liz Barrett, a exprimé sa confiance dans la capacité de Degnan à contribuer à la croissance de l'entreprise, en particulier alors qu'ils se préparent à lancer UGN-102, un produit potentiel de première classe pour le traitement du cancer de la vessie non-muscle-invasif à bas grade et à risque intermédiaire (LG-IR-NMIBC).

UroGen Pharma (Nasdaq: URGN) hat Chris Degnan als neuen Chief Financial Officer ernannt, der Don Kim nachfolgt. Degnan bringt umfangreiche Erfahrungen als CFO in börsennotierten Biotech-Unternehmen mit, insbesondere in den Bereichen Finanzstrategie, Investor Relations, SEC-Berichterstattung, Buchhaltung und Compliance. Er kommt von vorherigen Positionen bei Galera Therapeutics und Verrica Pharmaceuticals zu UroGen.

Im Rahmen seiner Ernennung erhielt Degnan einen Induzierten Zuschuss in Form von eingeschränkten Aktienanteilen, die 13.450 Stammaktien abdecken, sowie eine Aktienoption zum Kauf von bis zu 74.142 Stammaktien zu einem Ausübungspreis von 13,11 $. Diese Prämien werden über drei Jahre ausgezahlt, vorausgesetzt, Degnan bleibt weiterhin bei UroGen tätig.

UroGen-CEO Liz Barrett äußerte Vertrauen in Degnans Fähigkeit, zum Wachstum des Unternehmens beizutragen, insbesondere während die Vorbereitungen für die Markteinführung von UGN-102 laufen, einem potenziellen Produkt der ersten Klasse zur Behandlung von nicht muskelinvasivem Blasenkarzinom mit niedrigem Grad und mittlerem Risiko (LG-IR-NMIBC).

Positive
  • Appointment of experienced CFO Chris Degnan with biotech expertise
  • Preparation for potential launch of UGN-102, a first-in-class product for LG-IR-NMIBC treatment
  • Strengthened financial position and achievement of significant milestones under previous CFO
Negative
  • Departure of previous CFO Don Kim
  • Potential dilution from inducement grants to new CFO

Mr. Degnan has extensive experience in financial strategy, investor relations, SEC reporting, accounting and compliance

PRINCETON, N.J.--(BUSINESS WIRE)-- UroGen Pharma Ltd. (Nasdaq: URGN), a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers, today announced that Chris Degnan has been appointed Chief Financial Officer. Mr. Degnan succeeds Don Kim, who is leaving UroGen to pursue other opportunities.

"Under Don's financial stewardship, we have strengthened our financial position and achieved significant milestones, which include multiple capital raises and investing in the potential commercial launch of UGN-102 for low-grade intermediate-risk non-muscle-invasive bladder cancer (LG-IR-NMIBC). On behalf of UroGen, I would like to express our deepest gratitude to Don for his dedication. We thank him for the role he has played in our success and wish him the very best in his future endeavors," said Liz Barrett, President and Chief Executive Officer, UroGen.

"As we look to the next stage of growth for UroGen, we are excited to welcome Chris to the leadership team," continued Ms. Barrett. "We are confident that his biotech expertise and strategic insight will be instrumental as we prepare to launch UGN-102, our potential first-in-class product for the treatment of LG-IR-NMIBC and a key component in our strategy to build long-term growth for our company."

"I am thrilled to be joining UroGen at such a pivotal time. I look forward to working with the team to build on the strong financial foundation and drive continued success in bringing new treatment options to patients with urological cancers,” said Chris Degnan.

Mr. Degnan joins UroGen with extensive experience as a publicly traded biotech CFO, most recently at Galera Therapeutics and Verrica Pharmaceuticals. Mr. Degnan has broad expertise in financial strategy, investor relations, SEC reporting, accounting and compliance. Earlier in his career, Mr. Degnan held senior positions at Endo International plc. Before joining Endo, Mr. Degnan spent more than 10 years at AstraZeneca plc, a global biopharmaceutical company. He is a Certified Public Accountant in the State of Pennsylvania (voluntary inactive status) and holds a B.S. degree in Accounting from the University of Notre Dame.

In connection with his appointment as CFO, Mr. Degnan received an inducement grant of restricted stock units covering 13,450 ordinary shares of UroGen (the “Inducement RSUs”) and an inducement grant of a stock option to purchase up to 74,142 ordinary shares of UroGen (the “Inducement Option”). The exercise price of the Inducement Option is $13.11, which was the closing price of the ordinary shares on October 8, 2024, the date of grant, as reported on The Nasdaq Stock Market. The Inducement RSUs and the Inducement Option (collectively, the “Inducement Awards”) granted to Mr. Degnan will vest over three years, with one-third of the underlying shares vesting each year on the anniversary of the vesting date (October 8, 2024), subject in each case to Mr. Degnan’s continued service relationship with UroGen. The Inducement Awards are subject to the terms and conditions of UroGen’s 2019 Inducement Plan and RSU grant notice and agreement thereunder and option grant notice and agreement thereunder. The Inducement Awards were granted as an inducement material to Mr. Degnan entering into employment with UroGen in accordance with Nasdaq Listing Rule 5635(c)(4).

About UGN-102

UGN-102 (mitomycin) for intravesical solution is an innovative drug formulation of mitomycin, currently in Phase 3 development for the treatment of LG-IR-NMIBC. Utilizing UroGen’s proprietary RTGel® technology, a sustained release, hydrogel-based formulation, UGN-102 is designed to enable longer exposure of bladder tissue to mitomycin, thereby enabling the treatment of tumors by non-surgical means. UGN-102 is delivered to patients using a standard urinary catheter in an outpatient setting by a trained healthcare professional. UroGen completed the NDA submission for UGN-102 in August 2024, ahead of schedule. UroGen anticipates potential FDA approval in early 2025 if the NDA is accepted for filing by the FDA and priority review is granted.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding: the potential FDA approval of UGN-102 and the timing thereof; the potential commercial launch of UGN-102; UGN-102 building long-term growth for our company; UroGen bringing new treatment options to patients with urological cancers; the potential of UroGen’s proprietary RTGel® technology to improve therapeutic profiles of existing drugs and UroGen’s sustained release technology making local delivery potentially more effective as compared to other treatment options; and other statements that are not historical fact. Words such as “anticipate,” “believe,” “could,” “if,” “intend,” “plan,” “potential,” “will,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: even if the NDA for UGN-102 is accepted for filing by the FDA, there is no guarantee that such NDA will be given priority review or that such NDA will be sufficient to support approval of UGN-102 on the timeframe expected, or at all; the ability to maintain regulatory approval; the ability to obtain and maintain adequate intellectual property rights and adequately protect and enforce such rights; UroGen may not successfully develop and receive regulatory approval of any other product that incorporates RTGel technology; and UroGen’s financial condition and need for additional capital in the future. In light of these risks and uncertainties, 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 June 30, 2024, filed with the SEC on August 13, 2024 (which is available at www.sec.gov), 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 speak only as of the date of this press release and are based on information available to UroGen as of the date of this release.

INVESTORS:

Vincent Perrone

Senior Director, Investor Relations

vincent.perrone@urogen.com

609-460-3588 ext. 1093

MEDIA:

Cindy Romano

Director, Corporate Communications

cindy.romano@urogen.com

609-460-3583 ext. 1083

Source: UroGen Pharma Ltd.

Source: UroGen Pharma Ltd.

FAQ

Who is the new CFO of UroGen Pharma (URGN)?

Chris Degnan has been appointed as the new Chief Financial Officer of UroGen Pharma (Nasdaq: URGN).

What experience does Chris Degnan bring to UroGen Pharma (URGN)?

Chris Degnan brings extensive experience as a publicly traded biotech CFO, with expertise in financial strategy, investor relations, SEC reporting, accounting, and compliance. He previously held CFO positions at Galera Therapeutics and Verrica Pharmaceuticals.

What inducement grants did Chris Degnan receive upon joining UroGen Pharma (URGN)?

Chris Degnan received an inducement grant of restricted stock units covering 13,450 ordinary shares and a stock option to purchase up to 74,142 ordinary shares at an exercise price of $13.11. These awards will vest over three years.

What is UroGen Pharma's (URGN) key product in development?

UroGen Pharma is preparing to launch UGN-102, a potential first-in-class product for the treatment of low-grade intermediate-risk non-muscle-invasive bladder cancer (LG-IR-NMIBC).

UroGen Pharma Ltd. Ordinary Shares

NASDAQ:URGN

URGN Rankings

URGN Latest News

URGN Stock Data

535.93M
37.83M
9.18%
88.79%
15.67%
Biotechnology
Pharmaceutical Preparations
Link
United States of America
RA'ANANA