By Elias Schisgall

Shares of UroGen fell after the company posted a wider-than-expected loss in the fourth quarter and said it would take out a new loan to refinance its debt.

Shares were down 8.8% to $19.80 in Monday morning trading. The stock has more than doubled in value in the past year.

The biotechnology company on Monday posted a loss of $26.4 million, or 54 cents a share, compared with a loss of $37.5 million, or 80 cents a share, a year earlier.

Revenue rose to $37.8 million, up from $24.6 million a year prior.

Analysts polled by FactSet were expecting a loss of 50 cents a share and revenue of $39.9 million.

UroGen also said Monday that it had entered into a loan agreement for up to $250 million from Pharmakon Advisors, which revises an existing agreement from 2024.

Under the new agreement, Pharmakon issued a $200 million loan to UroGen to refinance the company's existing $125 million loan facility and provide additional capital.

UroGen also may draw additional loans up to $50 million from Pharmakon through June 30, 2027. The loans have a fixed interest rate of 8.25% and will be repaid in four equal quarterly payments beginning in the first quarter of 2030, UroGen said.

"This refinancing strengthens UroGen's financial position by lowering our overall cost of capital, extending our maturity profile, and enhancing balance sheet flexibility," UroGen Chief Financial Officer Chris Degnan said. "Importantly, it provides meaningful capital to support life-cycle management of our approved products and advancement of our pipeline."

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

March 02, 2026 11:39 ET (16:39 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.