UroGen Pharma Ltd. (URGN) Balance Sheet
URGN balance sheet, 2025
December 31, 2025 · U.S. dollars$200.5M assets = $305.9M liabilities + −$105.5M equity
Liabilities exceed assets: shareholders’ equity is negative (−$105.5M).
Both columns are drawn to the same scale: what URGN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
URGN financial health
Descriptive bands, not a rating. Fiscal 2025.
URGN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $23.1M2016 | $200.5M2025 | +27.2%/yr | |
| Total liabilities | $6.7M2016 | $305.9M2025 | +52.8%/yr | |
| Shareholders’ equity | $16.3M2016 | −$105.5M2025 | — | |
| Cash & short-term investments | $21.4M2016 | $120.5M2025 | +21.2%/yr | |
| Total debt | $3.6M2016 | $128.3M2025 | +48.7%/yr | |
| Net cash (debt) | $17.8M2016 | −$7.9M2025 | −$25.6M | |
| Working capital | $18.9M2016 | $139.6M2025 | +$120.7M | |
| Book value per share | $1.362016 | −$2.192025 | — | |
| Current ratio | 7.032016 | 4.012025 | −3.02 | |
| Debt / equity | 0.222016 | 0.052021 | −0.17 | |
| Shares outstanding | 12.0M2016 | 48.1M2025 | +16.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
URGN assets
URGN liabilities and equity
URGN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
URGN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $120.5M | $236.7M | $137.0M | $100.0M | $89.1M | $102.0M | $147.1M | $101.3M | $73.0M | $21.4M |
| Cash & equivalents | $110.7M | $172.0M | $95.0M | $55.4M | $44.4M | $52.9M | $49.7M | $101.3M | $37.0M | $21.4M |
| Short-term investments | $9.7M | $64.7M | $42.0M | $44.6M | $44.8M | $49.2M | $97.4M | — | $36.0M | $95,000 |
| Receivables | $33.1M | $20.3M | $15.4M | $12.7M | $11.7M | $7.0M | $0 | $0 | $198,000 | $83,000 |
| Inventory | $16.5M | $9.2M | $5.7M | $4.3M | $4.8M | $2.0M | $0 | $0 | $316,000 | $105,000 |
| Other current assets | $16.0M | $9.9M | $11.1M | $11.9M | $8.7M | $4.6M | $1.6M | $925,000 | $958,000 | $491,000 |
| Total current assets | $186.0M | $276.1M | $169.2M | $128.9M | $114.4M | $115.6M | $148.6M | $102.2M | $74.5M | $22.0M |
| Property, plant & equipment (net) | $9.1M | $3.8M | $2.4M | $3.7M | $3.1M | $4.2M | $4.7M | $948,000 | $805,000 | $741,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $5.0M | $4.5M | $0 | $675,000 | $1.9M | $48.6M | $0 | $0 | $0 |
| Other non-current assets | $5.3M | $765,000 | $2.3M | $3.0M | $1.5M | $289,000 | $487,000 | $368,000 | $273,000 | $274,000 |
| Total assets | $200.5M | $285.7M | $178.3M | $135.6M | $119.7M | $122.0M | $202.4M | $103.6M | $75.5M | $23.1M |
| Liabilities | ||||||||||
| Accounts payable | $12.1M | $10.9M | $6.5M | $5.5M | $5.8M | $3.3M | $4.7M | $4.3M | $2.8M | $1.9M |
| Short-term debt | — | $1.5M | $819,000 | $941,000 | $3.3M | $1.9M | — | — | — | — |
| Deferred revenue | — | $5.2M | $4.4M | $618,000 | $497,000 | $382,000 | — | — | $650,000 | — |
| Total current liabilities | $46.4M | $45.9M | $31.2M | $23.9M | $22.4M | $21.4M | $19.5M | $13.5M | $7.0M | $3.1M |
| Long-term debt | $122.2M | $121.7M | $98.6M | $97.5M | $0 | $0 | $0 | $0 | $0 | $3.6M |
| Lease obligations | $6.1M | $1.7M | $844,000 | $1.6M | $398,000 | $1.5M | $2.6M | — | — | — |
| Other long-term liabilities | $137.3M | $126.8M | $113.8M | $103.5M | $89.0M | $4.2M | $2.6M | $0 | $0 | $0 |
| Total liabilities | $305.9M | $294.5M | $243.5M | $225.0M | $111.3M | $25.6M | $22.1M | $13.5M | $7.0M | $6.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $133,000 | $115,000 | $89,000 | $63,000 | $61,000 | $60,000 | $57,000 | $44,000 | $37,000 | $6,000 |
| Retained earnings (deficit) | −$959.7M | −$806.2M | −$679.3M | −$577.1M | −$467.3M | −$356.5M | −$228.0M | −$122.9M | −$47.2M | −$27.2M |
| Accumulated other comprehensive income | $19,000 | $56,000 | $12,000 | −$107,000 | −$25,000 | $271,000 | $276,000 | −$747,000 | −$577,000 | −$370,000 |
| Total shareholders' equity | −$105.5M | −$8.8M | −$65.2M | −$89.4M | $8.4M | $96.4M | $180.3M | $90.1M | $68.5M | $16.3M |
| Key figures | ||||||||||
| Total debt | $128.3M | $123.4M | $99.4M | $99.1M | $398,000 | $1.5M | $2.6M | — | — | $3.6M |
| Net cash (debt) | −$7.9M | $113.3M | $37.6M | $841,000 | $88.7M | $100.5M | $144.5M | — | — | $17.8M |
| Working capital | $139.6M | $230.2M | $138.0M | $105.0M | $92.0M | $94.2M | $129.2M | $88.8M | $67.4M | $18.9M |
| Tangible book value | −$105.5M | −$8.8M | −$65.2M | −$89.4M | $8.4M | $96.4M | $180.3M | $90.1M | $68.5M | $16.3M |
| Book value per share | −$2.19 | −$0.21 | −$2.26 | −$3.92 | $0.38 | $4.42 | $8.78 | $5.72 | — | $1.36 |
| Shares outstanding | 48.1M | 42.9M | 28.8M | 22.8M | 22.3M | 21.8M | 20.5M | 15.8M | — | 12.0M |
| Current ratio | 4.01 | 6.01 | 5.42 | 5.39 | 5.11 | 5.39 | 7.63 | 7.59 | 10.59 | 7.03 |
| Quick ratio | 3.31 | 5.59 | 4.88 | 4.71 | 4.51 | 5.09 | 7.55 | 7.52 | 10.40 | 6.84 |
| Debt / equity | — | — | — | — | 0.05 | 0.02 | 0.01 | — | — | 0.22 |
| Equity / assets | −52.6% | −3.1% | −36.6% | −65.9% | 7.0% | 79.0% | 89.1% | 87.0% | 90.7% | 70.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $108.0M | $141.6M | $120.5M | $127.0M | $157.0M | $195.9M | $236.7M | $249.6M | $241.1M | $164.9M | $137.8M | $147.4M |
| Cash & equivalents | $79.1M | $111.3M | $110.7M | $90.0M | $92.9M | $104.0M | $172.0M | $124.9M | $220.0M | $132.3M | $95.8M | $119.3M |
| Short-term investments | $28.8M | $30.3M | $9.7M | $37.0M | $64.0M | $91.9M | $64.7M | $124.7M | $21.1M | $32.6M | $42.0M | $28.1M |
| Receivables | $88.8M | $55.4M | $33.1M | $19.7M | $19.6M | $19.6M | $20.3M | $22.8M | $17.4M | $14.2M | $15.4M | $12.8M |
| Inventory | $24.6M | $20.9M | $16.5M | $8.3M | $7.1M | $7.6M | $9.2M | $7.6M | $7.4M | $7.2M | $5.7M | $5.0M |
| Other current assets | $14.1M | $19.5M | $16.0M | $13.5M | $13.1M | $14.1M | $9.9M | $15.1M | $13.0M | $10.5M | $10.3M | $16.9M |
| Total current assets | $235.4M | $237.5M | $186.0M | $168.5M | $196.9M | $237.2M | $276.1M | $295.1M | $279.0M | $196.8M | $169.2M | $182.1M |
| Property, plant & equipment (net) | $8.2M | $8.6M | $9.1M | $9.2M | $6.2M | $5.4M | $3.8M | $1.7M | $1.8M | $2.0M | $2.4M | $2.7M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $380,000 | $4.6M | $4.5M | $5.0M | $4.6M | $203,000 | $481,000 | $4.5M | $6.5M |
| Other non-current assets | $8.9M | $7.7M | $5.3M | $6.9M | $978,000 | $547,000 | $765,000 | $545,000 | $848,000 | $1.3M | $2.3M | $2.3M |
| Total assets | $252.6M | $253.7M | $200.5M | $185.0M | $208.7M | $247.6M | $285.7M | $301.9M | $281.8M | $200.6M | $178.3M | $193.6M |
| Liabilities | ||||||||||||
| Accounts payable | $39.9M | $17.2M | $12.1M | $10.3M | $13.6M | $14.6M | $10.9M | $5.6M | $8.3M | $6.3M | $6.5M | $4.0M |
| Short-term debt | $2.1M | $1.9M | — | $1.6M | $1.5M | $1.4M | $3.1M | $825,000 | $1.6M | $779,000 | $819,000 | $858,000 |
| Deferred revenue | — | $8.3M | — | $7.7M | — | — | $5.2M | $7.7M | $6.4M | $5.2M | $4.4M | $2.7M |
| Total current liabilities | $61.9M | $50.6M | $46.4M | $42.2M | $47.5M | $42.0M | $45.9M | $32.8M | $34.2M | $26.3M | $31.2M | $25.8M |
| Long-term debt | $188.7M | $189.5M | $122.2M | $122.1M | $122.5M | $122.1M | $121.7M | $121.7M | $97.8M | $97.6M | $98.6M | $98.5M |
| Lease obligations | $7.4M | $5.6M | $6.1M | $6.2M | $3.4M | $2.8M | $1.7M | $212,000 | $425,000 | $637,000 | $844,000 | $1.0M |
| Other long-term liabilities | $134.3M | $137.8M | $137.3M | $136.1M | $132.0M | $130.0M | $126.8M | $121.9M | $119.5M | $116.8M | $113.8M | $111.3M |
| Total liabilities | $385.0M | $377.9M | $305.9M | $300.5M | $302.1M | $294.1M | $294.5M | $276.4M | $251.5M | $240.7M | $243.5M | $235.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $135,000 | $134,000 | $133,000 | $128,000 | $126,000 | $126,000 | $115,000 | $115,000 | $112,000 | $99,000 | $89,000 | $84,000 |
| Retained earnings (deficit) | −$997.6M | −$983.3M | −$959.7M | −$933.4M | −$900.0M | −$850.1M | −$806.2M | −$768.7M | −$745.0M | −$711.6M | −$679.3M | −$653.3M |
| Accumulated other comprehensive income | −$2,000 | $8,000 | $19,000 | $23,000 | $5,999 | $14,000 | $56,000 | $236,000 | −$31,000 | −$37,000 | $12,000 | −$134,000 |
| Total shareholders' equity | −$132.4M | −$124.3M | −$105.5M | −$115.4M | −$93.4M | −$46.5M | −$8.8M | $25.5M | $30.3M | −$40.1M | −$65.2M | −$42.0M |
| Key figures | ||||||||||||
| Total debt | $196.1M | $197.1M | $128.3M | $129.9M | $127.5M | $124.9M | $123.4M | $121.9M | $98.2M | $99.0M | $100.2M | $99.5M |
| Net cash (debt) | −$88.2M | −$55.5M | −$7.9M | −$2.9M | $29.5M | $70.9M | $113.3M | $127.7M | $142.8M | $65.9M | $37.6M | $47.9M |
| Working capital | $173.5M | $186.8M | $139.6M | $126.3M | $149.3M | $195.2M | $230.2M | $262.3M | $244.7M | $170.4M | $138.0M | $156.3M |
| Tangible book value | −$132.4M | −$124.3M | −$105.5M | −$115.4M | −$93.4M | −$46.5M | −$8.8M | $25.5M | $30.3M | −$40.1M | −$65.2M | −$42.0M |
| Book value per share | −$2.63 | −$2.48 | −$2.14 | −$2.40 | −$1.96 | −$0.98 | −$0.19 | $0.59 | $0.82 | −$1.20 | −$1.80 | −$1.30 |
| Shares outstanding | 50.4M | 50.2M | 49.2M | 48.1M | 47.7M | 47.4M | 47.0M | 43.1M | 36.8M | 33.4M | 36.2M | 32.3M |
| Current ratio | 3.80 | 4.69 | 4.01 | 3.99 | 4.14 | 5.65 | 6.01 | 9.00 | 8.15 | 7.47 | 5.42 | 7.06 |
| Quick ratio | 3.18 | 3.89 | 3.31 | 3.47 | 3.71 | 5.13 | 5.59 | 8.31 | 7.55 | 6.80 | 4.91 | 6.21 |
| Debt / equity | — | — | — | — | — | — | — | 4.78 | 3.24 | — | — | — |
| Equity / assets | −52.4% | −49.0% | −52.6% | −62.4% | −44.7% | −18.8% | −3.1% | 8.5% | 10.8% | −20.0% | −36.6% | −21.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
URGN financial position
At the end of fiscal 2025 (December 31, 2025), UroGen Pharma had total assets of $200.5 million (down 29.8% from a year earlier), total liabilities of $305.9 million and shareholders' equity of -$105.5 million. It held $120.5 million in cash and short-term investments against $128.3 million of debt, net debt of $7.9 million. Its current ratio was 4.01. In the latest quarter (ended June 30, 2026) total assets were $252.6 million and equity -$132.4 million.
Related: URGN income statement, URGN cash flow statement, URGN key metrics. See the URGN stock overview for the latest quote and news.
URGN balance sheet FAQ
What are UroGen Pharma's total assets?
UroGen Pharma reported total assets of $200.5 million at the end of fiscal 2025 (December 31, 2025), compared with $285.7 million a year earlier.
How much debt does UroGen Pharma have?
UroGen Pharma had $128.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does UroGen Pharma have?
UroGen Pharma held $120.5 million in cash and short-term investments at the end of fiscal 2025; with $128.3 million of debt that is net debt of $7.9 million.
What is UroGen Pharma's book value?
UroGen Pharma's shareholders' equity (book value) was -$105.5 million at the end of fiscal 2025, or −$2.19 per share.
What is UroGen Pharma's current ratio?
UroGen Pharma had current assets of $186.0 million and current liabilities of $46.4 million, a current ratio of 4.01 (it can cover its short-term obligations).