UroGen Announces Chris Degnan as New Chief Financial Officer
UroGen Pharma Ltd. (NASDAQ: URGN), a pioneering biotech company focused on creating and promoting innovative treatments for urothelial and specialty cancers, recently disclosed the appointment of Chris Degnan as Chief Financial Officer. Degnan takes over from Don Kim, who has stepped down to pursue new opportunities.
Liz Barrett, UroGen's President and CEO, praised Kim for his crucial role in enhancing UroGen’s financial standing and hitting important milestones, such as securing capital funding while preparing for the potential launch of UGN-102 for low-grade intermediate-risk non-muscle-invasive bladder cancer (LG-IR-NMIBC).
Dearly Departed Leadership
During his tenure, Don Kim helped steer UroGen through significant growth phases, laying a strong financial groundwork that was critical for developing innovative cancer treatments. "We express our deepest gratitude for Don’s unwavering dedication and wish him success in his future endeavors," Barrett remarked.
The Future with Chris Degnan
Looking ahead, UroGen is excited about Chris Degnan joining the leadership team. His vast experience in the biotech sector is expected to play a vital role in UroGen's roadmap, particularly with UGN-102's upcoming launch.
Degnan expressed his enthusiasm about his new role: "Joining UroGen at such a pivotal moment fills me with excitement. I’m eager to collaborate with the exceptional team at UroGen to expand on the solid foundation we’ve established and to continue our mission of delivering innovative treatments for patients with urological cancers.”
Chris Degnan's Impressive Background
Before joining UroGen, Chris Degnan served as CFO at Galera Therapeutics and Verrica Pharmaceuticals, bringing a wealth of expertise in financial planning, investor relations, SEC compliance, and accounting. His career includes significant positions at Endo International plc and over a decade at AstraZeneca plc, a key player in the biopharmaceutical industry. Degnan is a Certified Public Accountant in Pennsylvania and earned a B.S. in Accounting from the University of Notre Dame.
Compensation and Inducement Grants
As part of his CFO appointment, Degnan has received an inducement grant comprising 13,450 restricted stock units and an option to purchase 74,142 ordinary shares of UroGen. The stock option, priced at $13.11, corresponds to the market rate on the date of the grant. These inducement awards are structured to vest over three years, aligning with Degnan's continued involvement at UroGen.
This structured grant not only incentivizes performance but also underscores UroGen's commitment to maintaining a motivated leadership team that can navigate the complexities of the healthcare market.
About UGN-102
UGN-102 represents an innovative formulation of mitomycin designed specifically for intravesical delivery. Currently undergoing Phase 3 trials for the treatment of LG-IR-NMIBC, this drug utilizes UroGen’s proprietary RTGel technology, which facilitates a sustained release of the medication to enhance effectiveness. UGN-102 is administered to patients through a standard urinary catheter by a trained professional, ensuring optimal safety and efficacy.
Excitingly, UroGen has completed the New Drug Application (NDA) submission for UGN-102 ahead of schedule. If accepted, UroGen anticipates potential FDA approval in early 2025, setting the stage for what could be a groundbreaking treatment for patients suffering from bladder cancer.
Frequently Asked Questions
What is UroGen Pharma focused on?
UroGen Pharma specializes in developing innovative treatments for urothelial and specialty cancers.
Who is Chris Degnan?
Chris Degnan is the new Chief Financial Officer of UroGen Pharma, bringing extensive biopharmaceutical experience.
What is UGN-102?
UGN-102 is a treatment for low-grade intermediate-risk non-muscle-invasive bladder cancer, currently in Phase 3 development.
What technology does UGN-102 utilize?
UGN-102 features UroGen’s proprietary RTGel technology for sustained drug release.
What does the future hold for UroGen with Chris Degnan?
With Degnan’s expertise, UroGen aims to enhance its financial strategy and successfully launch UGN-102.
