10 Worst Middle East and Africa Stocks To Buy According to Short Sellers

3. UroGen Pharma (NASDAQ:URGN)  

Short Interest as % of Shares Outstanding: 16.87%

Number of Hedge Fund Investors in Q2 2024: 25

UroGen Pharma (NASDAQ:URGN) is an Israeli biopharmaceutical company specializing in solutions that treat urothelial and specialty cancers. The company is developing non-surgical options that enhance patient outcomes.

The company has developed RTGel, a reverse-thermal hydrogel, that delivers medications directly to the urinary tract and has the potential to improve the therapeutic profiles of existing drugs. The company’s flagship product, JELMYTO, leverages this RTGel technology and has demonstrated remarkable clinical results, including a 58% complete response rate for low-grade upper tract urothelial cancer. This innovation is noted for its durable, long-lasting effects, making it a significant advancement in treating cancer.

UroGen Pharma’s (NASDAQ:URGN) UGN-102 is currently under FDA review and targets a $5 billion market for low-grade intermediate-risk non-muscle invasive bladder cancer (LG-IR-NMIBC). Approval for UGN-102 is anticipated as early as Q1 2025. The company will provide 12-month durability of response results from patients who exhibited a complete response at three months following six weekly instillations of UGN-102. Additionally, UroGen Pharma (NASDAQ:URGN) is developing UGN-301, a potential treatment for high-grade bladder cancer.

If approved, UGN-102 will position UroGen Pharma (NASDAQ:URGN) as a leader in the urological oncology space and help the company enhance its revenue potential and strengthen its position as an innovator in bladder cancer therapies.

While 16.87% of the company’s shares are shorted, 25 hedge funds have maintained a bullish sentiment on the stock as of the second quarter with stakes worth $329.33 million. Adage Capital Management is the largest shareholder in the company and owns stocks worth $55.37 million.