Is UroGen Pharma Ltd. (NASDAQ:URGN) a buy in 2026?

Where URGN is headed

Walk into a urology practice in late 2027 and Zusduri will be sitting on the shelf next to the catheters, treated like a default rather than a novelty. That is the destination here. UroGen has spent a decade convincing urologists that a reverse-thermal gel can deliver chemotherapy where surgery used to be the only answer, and the FDA approval of Zusduri (mitomycin intravesical solution) for low-grade intermediate-risk non-muscle invasive bladder cancer has finally turned that pitch into a billing code. Revenue grew 151.6% on a trailing basis, gross margins sit at 89.9%, and the addressable patient pool for Zusduri alone is roughly 82,000 US patients a year, compared to the much smaller Jelmyto opportunity in the upper tract.