UroGen Pharma Stock Falls 5% After Signing Deals With IntraGel Therapeutics

(RTTNews) - Shares of UroGen Pharma Ltd. (URGN) are falling about 5 percent in Thursday morning trading after the company entered into an equity investment agreement and a strategic Option and Research License Agreement with IntraGel Therapeutics.

The company's stock is currently trading at $47.61, down 5.34 percent, over the previous close of $50.29 on the Nasdaq. It has traded between $15.86 and $50.81 in the past one year.

In a related equity investment agreement, UroGen will invest up to $7 million in the equity securities of IntraGel to support the Phase 2 clinical development of TumoCure, IntraGel's investigational therapy for advanced head and neck cancer. Meanwhile, under the related Option Agreement, UroGen receives an exclusive option to obtain an exclusive, worldwide license to develop and commercialize TumoCure following IntraGel's completion of a Phase 2 clinical study.