UroGen Pharma is a specialty biotech focused on developing and commercializing treatments for urothelial cancers — primarily bladder and upper urinary tract cancers. Its core technology, RTGel, is a proprietary reverse-thermal hydrogel that liquefies at cold temperatures and gels at body temperature. When instilled via catheter, RTGel holds drugs in contact with cancer tissue for hours rather than minutes — solving a key challenge in urinary tract drug delivery, where urine continuously flushes out conventional treatments. UroGen has two approved products built on this platform. Jelmyto treats low-grade upper tract urothelial carcinoma, a rare cancer of the kidney and ureter, and is the first and only approved non-surgical treatment for that indication. Zusduri, approved in June 2025 and launched in July 2025, treats recurrent low-grade non-muscle invasive bladder cancer — replacing what had previously been repeat surgeries under general anesthesia with a weekly in-office instillation. Both products are sold as buy-and-bill drugs through a direct sales force of roughly 82 territory managers targeting U.S. urologists. Jelmyto is the established revenue base, while Zusduri is the primary growth driver, targeting a patient population of ~82,000 annually and peak sales of over $1B. UroGen's pipeline includes next-generation formulations of both products — UGN-103 and UGN-104 — with extended patent protection into the early 2040s, and UGN-501, an oncolytic virus acquired in early 2025 targeting high-grade bladder cancer.