FDA OKs UroGen’s mitomycin gel for rare urothelial cancer

The FDA approves UroGen Pharma’s (URGN -9.0%) Jelmyto (mitomycin gel) for the treatment of low-grade upper tract urothelial cancer (cancer of the lining of the urinary system), a rare cancer that occurs in 6K – 8K Americans each year.

Mitomycin is a chemotherapy drug, specifically, an alkylating agent that interferes with the transcription of DNA into RNA, stopping protein synthesis and stopping cancer cells’ ability to proliferate.

The stock’s action may a “sell on the news” move since shares had rallied ~85% since March 23.

https://seekingalpha.com/news/3561031-fda-oks-urogens-mitomycin-gel-for-rare-urothelial-cancer