Brokerages see potential in UroGen's experimental bladder cancer drug

Brokerages Scotiabank and Guggenheim see significant potential in UroGen Pharma's URGN.O experimental drug for a type of bladder cancer

Scotiabank says the drug UGN-102 could serve as a niche alternative to standard-of-care labor-intensive surgical procedures

Scotiabank initiates coverage on URGN with a "sector outperform" rating, sets PT at $23

The drug is under review for the treatment of low-grade intermediate-risk non-muscle invasive bladder cancer(LG-IR-NMIBC)

FDA to decide by June 13 for URGN's drug

Brokerage Guggenheim says URGN's bladder cancer drug could be the only approved non-surgical option in the LG-IR-NMIBC market

Guggenheim estimates a total addressable market of more than 80,000 U.S. patients, which could translate to about $5 bln in sales

Adds UGN-102 is "the key near-term value driver for the company's shares"

As of last close, U.S.-listed shares has fallen 2% YTD