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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 07, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	URGN
Entity Registrant Name	UroGen Pharma Ltd.
Entity Central Index Key	0001668243
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		20,791,445

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 246,692	$ 101,318
Restricted deposit	407	253
Prepaid expenses and other current assets	1,196	672
TOTAL CURRENT ASSETS	248,295	102,243
NON-CURRENT ASSETS
Property and equipment, net	929	948
Restricted deposit	51	51
Other non-current assets	2,777	317
TOTAL ASSETS	252,052	103,559
CURRENT LIABILITIES:
Accounts payable and accrued expenses	5,942	8,540
Employee related accrued expenses	3,334	4,925
Other current liabilities	1,001
TOTAL CURRENT LIABILITIES	10,277	13,465
NON-CURRENT LIABILITIES:
Long-term lease liability	2,184
TOTAL NON-CURRENT LIABILITIES	2,184
TOTAL LIABILITIES	12,461	13,465
COMMITMENTS AND CONTINGENCIES (Note 13)
SHAREHOLDERS’ EQUITY:
Ordinary shares, NIS 0.01 par value; 100,000,000 shares authorized at March 31, 2019 and December 31, 2018; 20,758,348 and 16,214,883 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	56	44
Additional paid-in capital	383,850	212,921
Accumulated deficit	(144,315)	(122,871)
TOTAL SHAREHOLDERS’ EQUITY	239,591	90,094
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 252,052	$ 103,559

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (unaudited) - ₪ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Ordinary shares, par value	₪ 0.01	₪ 0.01
Ordinary shares, shares authorized	100,000,000	100,000,000
Ordinary shares, issued	20,758,348	16,214,883
Ordinary shares, outstanding	20,758,348	16,214,883

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
REVENUES		$ 481
COST OF REVENUES		430
GROSS PROFIT		51
OPERATING EXPENSES:
RESEARCH AND DEVELOPMENT EXPENSES, NET	$ 9,726	7,622
GENERAL AND ADMINISTRATIVE EXPENSES	12,707	6,069
OPERATING LOSS	(22,433)	(13,640)
FINANCE INCOME, NET	(989)	(258)
NET LOSS	$ (21,444)	$ (13,382)
LOSS PER ORDINARY SHARE BASIC AND DILUTED	$ 1.11	$ 0.88
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER ORDINARY SHARE	19,340,082	15,267,939

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid-In Capital	Accumulated Deficit
Balance at Dec. 31, 2017	$ 68,515	$ 37	$ 115,692	$ (47,214)
Balance,Share at Dec. 31, 2017		13,751,390
Exercise of options into ordinary shares, shares		39,665
Share-based compensation	4,541		4,541
Issuance of ordinary shares in public offering, net of issuance expenses	64,193	$ 5	64,188
Issuance of ordinary shares in public offering, net of issuance expenses, shares		1,682,926
Net loss	(13,382)			(13,382)
Balance at Mar. 31, 2018	123,867	$ 42	184,421	(60,596)
Balance,Share at Mar. 31, 2018		15,473,981
Balance at Dec. 31, 2018	90,094	$ 44	212,921	(122,871)
Balance,Share at Dec. 31, 2018		16,214,883
Exercise of options into ordinary shares	2,047	$ 1	2,046
Exercise of options into ordinary shares, shares		336,148
Share-based compensation	7,447		7,447
Issuance of ordinary shares in public offering, net of issuance expenses	161,447	$ 11	161,436
Issuance of ordinary shares in public offering, net of issuance expenses, shares		4,207,317
Net loss	(21,444)			(21,444)
Balance at Mar. 31, 2019	$ 239,591	$ 56	$ 383,850	$ (144,315)
Balance,Share at Mar. 31, 2019		20,758,348

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (21,444)	$ (13,382)
Adjustment to reconcile net loss to net cash from operating activities:
Depreciation and amortization	63	240
Stock-based compensation	7,447	4,541
Exchange rate differences		1
Realized loss on sale of short-term investment		100
Right of use asset	245
Lease liability	(173)
Changes in operating assets and liabilities:
Increase in inventory		(33)
Increase in accounts receivable		(4)
(Increase) decrease in prepaid expenses and other current assets	(41)	232
Decrease in accounts payable and accrued expenses	(2,440)	(206)
Decrease in deferred revenues		(454)
Decrease in employee related accrued expenses	(1,591)	(659)
Net cash used in operating activities	(17,934)	(9,624)
CASH FLOWS FROM INVESTING ACTIVITIES:
Short-term investments		35,901
Purchase of property and equipment	(44)	(72)
Net cash (used in) provided by investing activities	(44)	35,829
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options into ordinary shares	1,532
Issuance of ordinary shares, net of issurance expenses	161,974	64,256
Net cash provided by financing activities	163,506	64,256
INCREASE IN CASH AND CASH EQUIVALENTS	145,528	90,461
CASH, CASH EQUIVALENTS AND RESTRICED CASH AT BEGINNING OF THE YEAR	101,571	36,999
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE YEAR	247,099	127,460
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Non-cash issuance cost	312	$ 21
Exercise of options	$ 515

Business and Nature of Operations

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business and Nature of Operations

NOTE 1-BUSINESS AND NATURE OF OPERATIONS

Nature of Operations

UroGen Pharma Ltd. is an Israeli company incorporated in April 2004 (“UPL”).

UroGen Pharma Inc., a subsidiary of UPL, was incorporated in Delaware in October 2015 and began operating in February 2016 (“UPI”).

UPL and UPI (together the “Company”) is a clinical stage biopharmaceutical company focused on developing novel therapies designed to change the standard of care for urological pathologies. Since commencing operations, the Company has devoted substantially all of its efforts to securing intellectual property rights, performing research and development activities, including conducting clinical trials and manufacturing activities, hiring personnel, preparing for the potential commercial launch of its lead product candidates, UGN-101 and UGN-102, and raising capital to support and expand these activities.

Basis of Presentation

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation

NOTE 2-BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. The consolidated financial statements include the accounts of UPL and its wholly-owned subsidiary UPI. All material intercompany balances and transactions have been eliminated during consolidation.

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals and adjustments) necessary to present fairly the financial position, results of operations and cash flows of the Company at the dates and for the periods indicated. Interim results are not necessarily indicative of results for the full fiscal year. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

The consolidated financial statements include the accounts of UPL and its wholly-owned subsidiary UPI. All material intercompany balances and transactions have been eliminated during consolidation.

The Company has not generated any revenue from the sale of products since its inception. The Company has experienced net losses since its inception and has an accumulated deficit of $144.3 million and $122.9 million as of March 31, 2019 and December 31, 2018, respectively. The Company expects to incur losses and have negative net cash flows from operating activities as it expands its portfolio and engages in further research and development activities, particularly conducting preclinical studies and clinical trials.

The success of the Company depends on its ability to develop its technologies to the point of U.S. Food and Drug Administration (“FDA”) approval and subsequent revenue generation and, accordingly, to raise enough capital to finance these efforts. Based on our cash flow projections, we believe that our current cash and cash equivalents are sufficient to fund our business plans for at least the next 12 months. However, in the future, management may need to raise additional capital to finance the continued operating and capital requirements of the Company. There can be no assurances that the Company will be able to secure such additional financing, or if available, that it will be sufficient to meet its needs. If the Company cannot obtain adequate working capital, it may be forced to reevaluate its planned business operations.

Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 3-SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The Company’s condensed consolidated financial statements include the accounts of its subsidiary, UPI. Intercompany balances and transactions have been eliminated during consolidation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. As applicable to the unaudited condensed consolidated financial statements, the most significant estimates and assumptions relate to the fair value of share-based compensation, the fair value of the warrants for preferred shares and timing of revenue recognition.

Functional Currency

The U.S. dollar (“Dollar”) is the currency of the primary economic environment in which the operations of the Company are conducted. Therefore, the functional currency of the Company is the Dollar.

Accordingly, transactions in currencies other than the Dollar are measured and recorded in the functional currency using the exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated in currencies other than the Dollar are measured using the official exchange rate at the balance sheet date. The effects of foreign currency re-measurements are recorded in the condensed consolidated statements of operations as “finance (income) expenses.”

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consist primarily of money market funds and bank money market accounts and are stated at cost, which approximates fair value.

Short-Term Investments

The Company from time to time invests in short-term investments that consist of mutual and bond funds. While these investments are considered highly liquid and available to fund current operations, there is more than an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal and are therefore classified as short-term investments.

The Company classifies its short-term investments as available-for-sale in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 320, “Investments — Debt and Equity Securities”. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported in other comprehensive income/loss within shareholders’ equity.

Short-term investments are valued using models or other valuation methodologies that use Level 2 inputs. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, default rates, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. The majority of these assumptions are observable in the marketplace, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace.

Concentration of Credit Risk

Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents and marketable securities. The primary objectives for the Company’s investment portfolio are the preservation of capital and the maintenance of liquidity. The Company does not enter into any investment transaction for trading or speculative purposes.

The Company’s investment policy limits investments to certain types of instruments such as certificates of deposit, money market instruments, obligations issued by the U.S. government and U.S. government agencies as well as corporate debt securities, and places restrictions on maturities and concentration by type and issuer. The Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation and concentrated within a limited number of financial institutions. The accounts are monitored by management to mitigate the risk.

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and short-term investments. The Company deposits cash and cash equivalents with highly rated financial institutions, has not experienced any credit losses in these accounts and does not believe it is exposed to significant credit risk on these instruments.

Income Taxes

The Company provides for income taxes based on pretax income, if any, and applicable tax rates available in the various jurisdictions in which we operate. Deferred taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future.

The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained upon examination by the taxing authorities based on the technical merits of the position. If this threshold is met, the second step is to measure the tax benefit as the largest amount that is more likely than not of being realized upon ultimate settlement. As of March 31, 2019 and December 31, 2018, the Company had not accrued a provision for uncertain tax positions. See Note 11 for further discussion related to income taxes.

Property and Equipment

Property and equipment is recorded at historical cost, net of accumulated depreciation, amortization and, if applicable, impairment charges. The Company reviews its property and equipment assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Property and equipment are depreciated over the following useful lives (in years):

	Useful Lives
Computers and software		3
Laboratory equipment	3-6.5
Furniture	5-16.5
Manufacturing equipment		2

Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. See Note 6 for further discussion regarding property and equipment.

Leases

The Company is a lessee in several noncancelable operating leases, primarily for office space, office equipment and vehicles. The Company currently has no finance leases.

The Company accounts for leases in accordance with ASC Topic 842, “Leases”. The Company determines if an arrangement is a lease at inception. Right-of-use (“ROU”) assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term as of the commencement date. Operating lease ROU assets are presented as operating lease right of use assets on the condensed consolidated balance sheets. The current portion of operating lease liabilities is included in other current liabilities and the long-term portion is presented separately as operating lease liabilities on the condensed consolidated balance sheets.

Lease expense is recognized on a straight-line basis for operating leases. Variable lease payments associated with the Company’s leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented as operating expense on the condensed consolidated statements of operations in the same line item as expense arising from fixed lease payments.

The Company’s lease terms may include options to extend the lease. The lease extensions are included in the measurement of the right of use asset and lease liability when it is reasonably certain that it will exercise that option.

Because most of the Company’s leases do not provide an implicit rate of return, an incremental borrowing rate is used based on the information available at the commencement date in determining the present value of lease payments on an individual lease basis. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms.

The Company has lease agreements with lease and non-lease components. We applied the modified retrospective transition method and elected the transition option to use the effective date of January 1, 2019 as the date of initial application (“Transition Date”). Consequently, the disclosures required under Topic 842 are not provided for dates and periods before January 1, 2019.

Topic 842 provides a number of optional practical expedients in transition. The Company elected the ‘package of practical expedients’, which permits not to reassess under Topic 842 its prior conclusions about lease identification, lease classification, and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter not being applicable to the Company.

Topic 842 had a material impact on our condensed consolidated balance sheets, but did not have an impact on our condensed consolidated statements of operations. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases.

ROU assets for operating leases are periodically reviewed for impairment losses under ASC 360-10, “Property, Plant, and Equipment”, to determine whether a ROU asset is impaired, and if so, the amount of the impairment loss to recognize.

Revenues

The Company derives virtually all of its revenues from its license and supply agreement (the “Allergan Agreement”) with Allergan Pharmaceuticals International Limited (“Allergan”), a wholly owned subsidiary of Allergan plc. Under the Allergan Agreement, the Company grants Allergan an exclusive license to develop, commercialize, and otherwise exploit products that contain reverse thermally triggered hydrogel (“RTGel”) and agrees to supply Allergan with pre-clinical and clinical quantities of the RTGel product, also referred to as the RTGelvials. The Allergan Agreement contains up-front license fees, future supply fees, development, regulatory, and sales-based milestone payments, and sales-based royalty payments.

The Company determined that Allergan is its customer and the Allergan Agreement is in scope of ASC 606, which was adopted as of January 1, 2018. The Company adopted ASC 606 under the modified retrospective method, which did not have a material impact on the condensed consolidated statements of operations.

Supply of RTGel to Allergan

The Company recognizes revenue related to supply of RTGel at a point in time, upon delivery to Allergan. During the three months ended March 31, 2019 and 2018, the Company recognized $0 and $0.5 million of revenue related to RTGel supplied to Allergan, respectively.

Shipping and handling costs associated with supply of RTGel are accounted for as a fulfillment cost and are in included in cost of revenues.

General and Administrative Expenses

General and administrative expenses consist primarily of salaries and other related costs, including share-based compensation, for personnel in executive, finance, accounting, legal, investor relations, facilities, business development and human resources functions. Other significant costs include facility costs not otherwise included in research and development expenses, legal fees relating to corporate matters, insurance, public company expenses relating to maintaining compliance with listing rules of the Nasdaq Stock Market and requirements of the U.S. Securities and Exchange Commission (“SEC”), insurance and investor relations costs, and fees for accounting and consulting services. General and administrative costs are expensed as incurred, and the Company accrues for services provided by third parties related to the above expenses by monitoring the status of services provided and receiving estimates from its service providers and adjusting its accruals as actual costs become known.

Research and Development Expenses

Research and development costs are expensed as incurred and consist primarily of the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including preclinical studies, clinical trials, manufacturing costs and professional services. The costs of services performed by others in connection with the research and development activities of an entity, including research and development conducted by others on behalf of the entity, shall be included in research and development costs and expensed as the contracted work is performed. The Company accrues for costs incurred as the services are being provided by monitoring the status of the trial or project and the invoices received from its external service providers. The Company adjusts its accrual as actual costs become known. Where contingent milestone payments are due to third parties under research and development arrangements or license agreements, the milestone payment obligations are expensed when the milestone results are achieved.

The costs of intangibles that are purchased from others for particular research and development projects and that have no alternative future uses (in other research and development projects or otherwise) and therefore no separate economic values are research and development costs at the time the costs are incurred.

Share-Based Compensation

Share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the required service period, which is equal to the vesting period. The fair value of options is determined using the Black-Scholes option-pricing model. The fair value of a restricted stock unit (“RSU”) equaled the closing price of our ordinary shares on the grant date.

As of December 31, 2016, the Company early adopted the policy to account for forfeitures as they occur according to the FASB’s Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting.

The Company elected to recognize compensation costs for awards conditioned only on continued service that have a graded vesting schedule using the straight-line method and to value the awards based on the single-option award approach.

As of December 31, 2018, the Company adopted ASU 2018-07, Compensation-Stock Compensation, which establishes that the measurement of equity-classified nonemployee awards will be fixed at the grant date. The adoption of ASU 2018-07 did not have an impact on the condensed consolidated statements of operations.

Net Loss per Common Share

Basic net loss per share is computed by dividing the net loss attributable to common shareholders by the weighted-average number of common shares outstanding. Diluted net loss per share is computed similarly to basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.

For all periods presented, potentially dilutive securities are excluded from the computation of fully diluted loss per share as their effect is anti-dilutive.

Recent Accounting Pronouncements

In June 2018, the FASB issued ASU No. 2018-07, "Compensation-Stock Compensation" (“ASU 2018-07”) to improve the usefulness of information provided to users of financial statements while reducing cost and complexity in financial reporting and provide guidance aligning the measurement and classification for share-based payments to nonemployees with the guidance for share-based payments to employees. Under the guidance, the measurement of equity-classified nonemployee awards will be fixed at the grant date. This standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods. The adoption of ASU 2018-07 did not have a material impact on the Company’s Consolidated Statements of Operations.

In February 2016, the FASB issued ASU No. 2016-02, “Leases” (“Topic 842”). Topic 842 supersedes existing guidance in Leases (“Topic 840”). Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU 2018-10, Codification Improvements to Topic 842, Leases; ASU No. 2018-11, Targeted Improvements; ASU 2018-20, Narrow-Scope Improvements for Lessors; and ASU 2019-01 – Leases. Topic 842 requires lessees to recognize ROU assets and lease liabilities on the balance sheet for leases with lease terms greater than twelve months, including those classified as operating leases. The Company adopted Topic 842 and related interpretations effective January 1, 2019 and recognized ROU assets and operating lease liabilities of $3.4 million.

Other Financial Information

3 Months Ended

Mar. 31, 2019

Other Financial Information [Abstract]

Other Financial Information

NOTE 4-OTHER FINANCIAL INFORMATION

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following as of March 31, 2019 and December 31, 2018, respectively (in thousands):

	March 31, 2019		December 31, 2018
Accounts payable	$	1,700	$	4,272
Accrued clinical expenses		839		673
Accrued research and development costs		1,396		780
Accrued general and administrative expenses		1,298		1,029
Accrued other expense		709		1,786
Total accounts payable and accrued expenses	$	5,942	$	8,540

Finance (Income) Expense

Finance (income) expense consisted of the following as of March 31, 2019 and 2018, respectively (in thousands):

	Three Months Ended March 31,
	2019			2018
Interest income on cash and cash equivalents	$	(1,010	)	$	(422	)
Realized loss on sale of short-term investment		—			100
Other finance expenses		21			64
Total finance income	$	(989	)	$	(258	)

Fair Value Measurements and Investments in Marketable Securities

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements and Investments in Marketable Securities

NOTE 5-FAIR VALUE MEASUREMENTS AND INVESTMENTS IN MARKETABLE SECURITIES

The Company follows authoritative accounting guidance, which among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability.

As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows:

Level 1:

Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2:

Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Level 3:

Unobservable inputs that reflect the reporting entity’s own assumptions.

The carrying amounts of the Company’s other current assets, accounts payable and accrued liabilities are generally considered to be representative of their fair value because of the short-term nature of these instruments. No transfers between levels have occurred during the periods presented.

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of March 31, 2019 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

March 31,

Identical Assets

Inputs

2019

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

40,026

—

⁽¹⁾	Included within cash and equivalents on the condensed consolidated balance sheets.

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of December 31, 2018 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

2018

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

89,965

—

⁽¹⁾	Included within cash and equivalents on the condensed consolidated balance sheets.

The Company’s investments in money market funds are valued based on publicly available quoted market prices for identical securities as of March 31, 2019 and December 31, 2018.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

3 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

Property and Equipment

NOTE 6-PROPERTY AND EQUIPMENT

Property and equipment, consists of the following as of March 31, 2019 and December 31, 2018 (in thousands):

	March 31, 2019			December 31, 2018
Laboratory equipment	$	241		$	241
Computer equipment and software		309			271
Furniture		394			395
Leasehold improvements		561			561
Manufacturing equipment		228			227
		1,733			1,695
Less: accumulated depreciation and amortization		(804	)		(747	)
Property and equipment, net	$	929		$	948

Depreciation and amortization expenses were $0.1 million and $0.2 million for the three months ended March 31, 2019 and 2018, respectively.

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

NOTE 7-LEASES

Operating Leases

The Company has the following office and laboratory facility leases:

•

In April 2016, UPL signed an addendum to its November 2014 lease agreement for the Company’s principal executive offices located in Israel, in order to increase the office space rented and to extend the rent period until 2019. In March 2019, UPL utilized the agreement extension option and extended the rent period for additional three years until August 2022.

•

In September 2017, UPI entered into a new lease agreement for its New York headquarters. The lease agreement commenced in October 2017 and terminates in February 2021.

•

In April 2018, UPI entered into a new lease agreement for an office in Los Angeles, California. The lease commencement date was July 10, 2018 and terminates in March 2024. The landlord provided a tenant allowance for leasehold improvements of $0.2 million that was accounted for as a lease incentive.

In addition, the Company has other operating office equipment and vehicle leases. The Company’s operating leases may require minimum rent payments, contingent rent payments adjusted periodically for inflation, or rent payments equal to the greater of a minimum rent or contingent rent. The Company’s leases do not contain any residual value guarantees or material restrictive covenants. The Company’s leases expire at various dates from 2019 through 2022, with varying renewal and termination options.

The components of lease cost for the three months ended March 31, 2019 were as follows (in thousands):

	Three Months Ended March 31, 2019
Operating lease cost	$	302
Variable lease cost		30
	$	332

The amounts recognized upon adoption and as of March 31, 2019 were as follows (in thousands):

	January 1, 2019		March 31, 2019
Other non-current assets	$	3,022	$	2,777
Long-term lease liability		2,429		2,184
Other current liabilities		929		1,001

As of March 31, 2019, no impairment losses have been recognized to date.

Supplemental information related to leases for the periods reported is as follows (in thousands):

	Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operation leases		256
Right-of-use assets obtained in exchange for new operating lease liabilities		3,022
Weighted-average remaining lease term of operating leases	3.33 years
Weighted-average discount rate of operating leases	7.24%

As of March 31, 2019, maturities of lease liabilities were as follows (in thousands):

	Operating Leases
Years ending December 31,
2019 (excluding the three months ended March 31, 2019)	$	886
2020		1,220
2021		649
2022		492
2023		301
2024 and thereafter		58
Total future minimum lease payments	$	3,606
Less: Interest		421
Present value of lease liabilities	$	3,185

As of December 31, 2018, maturities of lease liabilities were as follows (in thousands):

	Operating Leases
Years ending December 31,
2019	$	1,136
2020		1,251
2021		676
2022		567
2023		301
2024 and thereafter		58
Total future minimum lease payments	$	3,989

Rent expense charged to operations was $1.2 million for the year ended December 31, 2018.

License and Collaboration Agreements

3 Months Ended

Mar. 31, 2019

Liscense Agreement [Abstract]

License and Collaboration Agreements

NOTE 8-LICENSE AND COLLABORATION AGREEMENTS

Allergan Agreement

In October 2016, the Company entered into the Allergan Agreement with Allergan and granted Allergan an exclusive worldwide license to research, develop, manufacture and commercialize pharmaceutical products that contain RTGel and clostridial toxins (including BOTOX), alone or in combination with certain other active ingredients, referred to as the Licensed Products, which are approved for the treatment of adults with overactive bladder who cannot use or do not adequately respond to anticholinergics. Additionally, the Company granted Allergan a non-exclusive, worldwide license to use certain of the Company’s trademarks as required for Allergan to practice its exclusive license with respect to the Licensed Products.

Under the Allergan Agreement, Allergan is solely responsible for costs and development of the Licensed Products and obtaining all regulatory approvals for Licensed Products worldwide, as well as worldwide commercialization of the Licensed Products after receiving the regulatory approval to do so. Allergan is required to use commercially reasonable efforts to develop and commercialize the Licensed Products for overactive bladder in certain major market countries.

The Company has previously supplied Allergan with certain quantities of RTGel for development of Licensed Products through Phase 2 clinical trials using BOTOX together with RTGel in patients with overactive bladder, at Allergan’s request and expense. Prior to completion of the first Phase 2 clinical trial, Allergan has the right to request that the Company transfers to Allergan the Company’s manufacturing process for RTGel and Allergan will assume the responsibility to manufacture RTGel and Licensed Product for its own development and commercialization activities. During the three months ended March 31, 2019 and 2018 the Company recognized revenue of $0 and $0.5 million related to RTGel that was supplied to Allergan, respectively.

Further, the Company is eligible to receive additional material milestone payments of up to an aggregate of $200.0 million upon the successful completion of certain development, regulatory and commercial milestones. As of March 31, 2019, since inception of the Allergan Agreement the Company has received a total of $25.0 million in milestone payments from Allergan. Allergan will pay the Company a tiered royalty in the low single digits based on worldwide annual net sales of Licensed Products, subject to certain reductions for the market entry of competing products and/or loss of our patent coverage of Licensed Products. The Company is responsible for payments to any third party for certain RTGel-related third-party intellectual properties.

Under the Allergan Agreement, Allergan granted the Company a non-exclusive, sublicensable, fully paid-up, perpetual, worldwide license under any improvements Allergan makes to the composition, formulation, or manufacture of RTGel for the research, development, manufacture and commercialization of any product containing RTGel and any active ingredient (other than a clostridial toxin) for all indications other than indications covered by the agreement and an exclusive, sublicensable, royalty-bearing (in low single digits), perpetual worldwide license under such improvements for use in the prevention or treatment of oncology indications.

The Company plans to continue to research, develop and commercialize other products combining RTGel with other active ingredients, except that there are certain restrictions with respect to the overactive bladder and neurogenic detrusor overactivity indications. Subject to provisions called out in the Allergan Agreement, Allergan may unilaterally terminate the Allergan Agreement for any reason upon advance notice. In addition, either party may terminate the Allergan Agreement for various reasons, as previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed with the SEC on February 28, 2019.

Early-Stage Feasibility Evaluation with Janssen Research & Development, LLC (“Janssen”)

See Note 14 for further discussion regarding an early-stage feasibility evaluation with Janssen.

Shareholders’ Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Shareholders' Equity

NOTE 9-SHAREHOLDERS’ EQUITY

The Company had 100.0 million ordinary shares authorized for issuance as of March 31, 2019 and December 31, 2018, respectively. The Company had 20.8 million and 16.2 million ordinary shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively. Each ordinary share is entitled to one vote. The holders of ordinary shares are also entitled to receive dividends whenever funds are legally available, when and if declared by the Board of Directors (the “Board”). Since its inception, the Board has not declared any dividends.

In January 2018, the Company completed an underwritten public offering of 1,682,926 of its ordinary shares, including 219,512 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $41.00 per share. The net proceeds to the Company from the public offering were approximately $64.2 million, after deducting the underwriting discounts and commissions and payment of other offering expenses.

In January 2019, the Company completed an underwritten public offering of 4,207,317 of its ordinary shares, including 548,780 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $41.00 per share. The net proceeds to the Company from the offering were approximately $161.4 million, after deducting the underwriting discounts and commissions and payment of other offering expenses.

Share-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

NOTE 10-SHARE-BASED COMPENSATION

In October 2010, the Board approved a share option plan (the “Plan”) for grants to Company employees, consultants, directors, and other service providers.

The grant of options to Israeli employees under the Plan is subject to the terms stipulated by Section 102 of the Israeli Income Tax Ordinance (“Section 102”). The option grants are subject to the track chosen by the Company, either the “regular income” track or the “capital gains” track, as set out in Section 102. The Company registered the Plan under the capital gains track, which offers more favorable tax rates to the employees. As a result, and pursuant to the terms of Section 102, the Company is not allowed to claim as an expense for tax purposes the amounts credited to the employees in respect of options granted to them under the Plan, including amounts recorded as salary benefits in the Company’s accounts, with the exception of the work-income benefit component, if any, determined on grant date. For non-employees and for non-Israeli employees, the Plan is subject to Section 3(i) of the Israeli Income Tax Ordinance.

Certain management and professional level employees typically receive options and RSU grants upon commencement of employment. Eligible employees may also receive a grant of options or RSUs annually and vest over one year. Non-employee members of the Board and any new, future directors may receive a grant of RSUs and/or stock options annually. The term of any option granted under the Plan cannot exceed 10 years. Options shall not have an exercise price less than 100% of the fair market value of the Company’s ordinary shares on the grant date, and generally vest over a period of three years. If the individual possesses more than 10% of the combined voting power of all classes of equity of the Company, the exercise price shall not be less than 110% of the fair market value of an ordinary share on the date of grant.

The Company’s RSU and option grants provide for accelerated or continued vesting in certain circumstances as defined in the plans and related grant agreements, including a termination in connection with a change in control. RSUs generally vest in a 33% increment upon the first anniversary of grant, and in equal quarterly amounts for the two years following the one-year anniversary of the grant date. Options generally vest in a 33% increment upon the first anniversary of the grant date, and in equal quarterly amounts for the three years following the one-year anniversary of the grant date.

The expected volatility is based on the historical volatility of comparable companies with similar attributes to the Company, including industry, stage of life cycle, size and financial leverage. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected term of the options granted. The expected term is the length of time until the expected dates of exercising the options and is estimated for employees using the simplified method due to insufficient specific historical information of employees’ exercise behavior, and for non-employees, and directors using the contractual term.

In March 2017, the Board adopted the 2017 Equity Incentive Plan (the "2017 Plan"), which was approved by the shareholders in April 2017. The 2017 Plan provides for the grant of incentive stock options to the Company's employees and for the grant of nonstatutory stock options, stock appreciation rights, restricted stock awards, RSU awards, performance share awards, performance cash awards, and other forms of share awards to the Company's employees, directors and consultants.

The maximum number of ordinary shares that may initially be issued under the 2017 Plan is 1,400,000. In addition, the number of ordinary shares reserved for issuance under the 2017 Plan will automatically increase on January 1st of each calendar year, from January 1, 2018 through January 1, 2026, so that the number of such shares reserved for issuance will equal 12% of the total number of ordinary shares outstanding on the last day of the calendar month prior to the date of each automatic increase, or a lesser number of shares determined by the Board. The maximum number of ordinary shares that may be issued upon the exercise of stock options under the 2017 Plan is 5,600,000. On January 1, 2018, the share reserve increased by 250,167 to 1,650,167. On October 12, 2018, the Company increased the amount of registered ordinary shares of the Company’s 2017 Plan by 1,900,000 to 3,550,167.

On January 2, 2019, the Company announced the resignation of its former CEO, and the Board approved a severance package, which included a combination of cash and modifications to grants of his related option awards in the amount of $3.4 million. The cash element followed the termination section in the CEO employment agreement, and the options element included acceleration to certain grants of his related option awards. The fair value of the modifications to these option awards was estimated at $2.8 million. The entire severance package was recorded in general and administrative and research and development expenses, based on salary allocations respectively, in the condensed consolidated statements of operations for the year ended December 31, 2018.

On January 3, 2019, the Company appointed Elizabeth Barrett as its President and Chief Executive Officer. In connection with Ms. Barrett’s employment, she was granted 277,432 options to purchase the Company’s ordinary shares, at an exercise price of $47.57, as well as 317,065 RSUs, with a combined fair value of $24.1 million.

The following table illustrates the effect of share-based compensation on the condensed consolidated statements of operations (in thousands):

	Three Months Ended March 31,
	2019		2018
Research and development expenses	$	2,338	$	2,473
General and administrative expenses		5,109		2,068
	$	7,447	$	4,541

The total unrecognized compensation cost of options and RSUs at March 31, 2019 is $63.2 million with a weighted average recognition period of 2.4 years.

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 11-INCOME TAXES

The Company is taxed under Israeli tax laws. As of March 31, 2019, the Company continues to maintain a full valuation allowance against deferred tax assets for all jurisdictions. In evaluating the need for a valuation allowance, the Company considers all sources of taxable income available to realize the deferred tax asset, including the future reversal of existing temporary differences, forecasts of future taxable income, and tax planning strategies. The Company has cumulative global pretax accounting losses for the years ended 2018, 2017 and 2016, and for the three months ended March 31, 2019. The Company will continue to assess the extent to which its deferred tax assets may be realized in the future, and will adjust the valuation allowance as needed.

Related Parties

3 Months Ended

Mar. 31, 2019

Related Parties

NOTE 12-RELATED PARTIES

UPI entered into a lease agreement, dated as of November 2015 and commencing as of May 2016, for office space in New York. UPI shared the office space equitably with Kite Pharma, Inc., a Delaware corporation, which was a cosignatory to such lease agreement. Arie Belldegrun, M.D., UPL’s chairman, served as the Chairman and Chief Executive Officer of Kite Pharma, Inc. until his resignation effective as of October 3, 2017, in connection with the acquisition of Kite Pharma, Inc. by Gilead Sciences, Inc.

In April 2018, UPI terminated its lease for offices at 689 Fifth Avenue in New York, and on December 1, 2018, UPI and Kite Pharma, Inc., completed a full assignment and assumption of the lease to Allogene Therapeutics, Inc. of which Arie Belldegrun, M.D., serves as the Chairman of the Board of Directors.

UPI recorded a loss on disposal of fixed assets of $0.2 million for the year ended December 31, 2018, regarding accelerated depreciation on the leasehold improvements associated with the lease, and there is no further liability as of December 31, 2018.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 13-COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Company enters into contracts that contain a variety of indemnifications with its employees, licensors, suppliers and service providers. Further, the Company indemnifies its directors and officers who are, or were, serving at the Company’s request in such capacities. The Company’s maximum exposure under these arrangements is unknown as of March 31, 2019 and December 31, 2018. The Company does not anticipate recognizing any significant losses relating to these arrangements.

Leases

Grants from the Israeli Innovation Authority in Israel (“IIA”)

The Company has received grants from the IIA for research and development funding. Up until 2007, the IIA participation in the funding of the Company’s operations was as part of the Director General Directive 8.2 of Israel by grants provided to Granot Ventures. Since 2008, the funding was provided directly to Company.

The Company is committed to pay royalties to the Government of Israel on proceeds from sales of products in the research and development of which the IIA participates by way of grants. At the time the grants were received, successful development of the related projects was not assured. In the case of failure of a project that was partly financed as above, the Company is not obligated to pay any such royalties. Under the terms of the funding from the IIA, royalties of 3% to 5% are payable on sales of products developed from a project so funded, up to 100% of the amount of the grant received by the Company (dollar linked); with the addition of annual interest at a rate based on 12-month LIBOR. The Company is subject to several conditions, including restrictions on its intellectual property.

As of March 31, 2019, the maximum royalty amount payable by the Company under these funding arrangements is $2.1 million (excluding interest, and inclusive of the $0.8 million in royalties that the Company has paid as of March 31, 2019). Under the Encouragement of Industrial Research, Development and Technological Innovation, 5754-1984 (“R&D Law”), a company that received grants from the IIA may not transfer IIA-funded technology or manufacture products developed with IIA-funded technology outside of the State of Israel without first obtaining the approval of the IIA. The Company may be required to pay increased royalties of up to 300% of the amount of the original grant and other amounts; if it does not receive such approvals, it may be required to pay significant penalties. As of March 31, 2019, the Company has paid $0.8 million in royalties due to the IIA, which has been recorded in cost of revenues in the condensed consolidated statements of operations for the year ended December 31, 2018.

Leases

See Note 7 for further discussion regarding lease commitments.

Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

NOTE 14-SUBSEQUENT EVENTS

On April 22, 2019, the Company entered into an agreement with Janssen to conduct an early-stage feasibility evaluation in a therapeutic area of mutual interest. The Company and Janssen will each conduct certain activities under the terms of the agreement, and the Company will incur the costs of its own efforts related to the feasibility evaluation.

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

The Company’s condensed consolidated financial statements include the accounts of its subsidiary, UPI. Intercompany balances and transactions have been eliminated during consolidation.

Use of Estimates

Foreign Currency

Functional Currency

Cash and Cash Equivalents

Short-Term Investments

Concentration of Credit Risk

Income Taxes

Property and Equipment

Property and equipment are depreciated over the following useful lives (in years):

	Useful Lives
Computers and software		3
Laboratory equipment	3-6.5
Furniture	5-16.5
Manufacturing equipment		2

Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. See Note 6 for further discussion regarding property and equipment.

Leases

The Company is a lessee in several noncancelable operating leases, primarily for office space, office equipment and vehicles. The Company currently has no finance leases.

Revenues

Supply of RTGel to Allergan

Shipping and handling costs associated with supply of RTGel are accounted for as a fulfillment cost and are in included in cost of revenues.

General and Administrative Expenses

Research and Development Expenses

Share-Based Compensation

Net Loss per Common Share

For all periods presented, potentially dilutive securities are excluded from the computation of fully diluted loss per share as their effect is anti-dilutive.

Recent Accounting Pronouncements

Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Property and Equipment Useful Lives

Property and equipment are depreciated over the following useful lives (in years):

	Useful Lives
Computers and software		3
Laboratory equipment	3-6.5
Furniture	5-16.5
Manufacturing equipment		2

Other Financial Information (Tables)

3 Months Ended

Mar. 31, 2019

Other Financial Information [Abstract]

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following as of March 31, 2019 and December 31, 2018, respectively (in thousands):

	March 31, 2019		December 31, 2018
Accounts payable	$	1,700	$	4,272
Accrued clinical expenses		839		673
Accrued research and development costs		1,396		780
Accrued general and administrative expenses		1,298		1,029
Accrued other expense		709		1,786
Total accounts payable and accrued expenses	$	5,942	$	8,540

Schedule of Finance (Income) Expense

Finance (income) expense consisted of the following as of March 31, 2019 and 2018, respectively (in thousands):

	Three Months Ended March 31,
	2019			2018
Interest income on cash and cash equivalents	$	(1,010	)	$	(422	)
Realized loss on sale of short-term investment		—			100
Other finance expenses		21			64
Total finance income	$	(989	)	$	(258	)

Fair Value Measurements and Investments in Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of March 31, 2019 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

March 31,

Identical Assets

Inputs

2019

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

40,026

—

⁽¹⁾	Included within cash and equivalents on the condensed consolidated balance sheets.

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of December 31, 2018 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

2018

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

89,965

—

⁽¹⁾	Included within cash and equivalents on the condensed consolidated balance sheets.

Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, consists of the following as of March 31, 2019 and December 31, 2018 (in thousands):

	March 31, 2019			December 31, 2018
Laboratory equipment	$	241		$	241
Computer equipment and software		309			271
Furniture		394			395
Leasehold improvements		561			561
Manufacturing equipment		228			227
		1,733			1,695
Less: accumulated depreciation and amortization		(804	)		(747	)
Property and equipment, net	$	929		$	948

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Components of Lease Cost

The components of lease cost for the three months ended March 31, 2019 were as follows (in thousands):

	Three Months Ended March 31, 2019
Operating lease cost	$	302
Variable lease cost		30
	$	332

Schedule of Amounts Recognized Upon Adoption

The amounts recognized upon adoption and as of March 31, 2019 were as follows (in thousands):

	January 1, 2019		March 31, 2019
Other non-current assets	$	3,022	$	2,777
Long-term lease liability		2,429		2,184
Other current liabilities		929		1,001

Schedule of Supplemental Information Related to Leases

Supplemental information related to leases for the periods reported is as follows (in thousands):

	Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operation leases		256
Right-of-use assets obtained in exchange for new operating lease liabilities		3,022
Weighted-average remaining lease term of operating leases	3.33 years
Weighted-average discount rate of operating leases	7.24%

Schedule of Maturities of Lease Liabilities

As of March 31, 2019, maturities of lease liabilities were as follows (in thousands):

	Operating Leases
Years ending December 31,
2019 (excluding the three months ended March 31, 2019)	$	886
2020		1,220
2021		649
2022		492
2023		301
2024 and thereafter		58
Total future minimum lease payments	$	3,606
Less: Interest		421
Present value of lease liabilities	$	3,185

Schedule of Maturities of Lease Liabilities

As of December 31, 2018, maturities of lease liabilities were as follows (in thousands):

	Operating Leases
Years ending December 31,
2019	$	1,136
2020		1,251
2021		676
2022		567
2023		301
2024 and thereafter		58
Total future minimum lease payments	$	3,989

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Effect of Share-Based Compensation on Condensed Consolidated Statements of Operations

The following table illustrates the effect of share-based compensation on the condensed consolidated statements of operations (in thousands):

	Three Months Ended March 31,
	2019		2018
Research and development expenses	$	2,338	$	2,473
General and administrative expenses		5,109		2,068
	$	7,447	$	4,541

Business and Nature of Operations - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Date of incorporation	Apr. 30, 2004
Date of operating commencement	Feb. 29, 2016

Basis of Presentation - Addititonal Information (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accumulated deficit	$ 144,315	$ 122,871

Significant Accounting Policies - Property and Equipment Useful Lives (Details)	3 Months Ended
	Mar. 31, 2019
Computers and Software
Property Plant And Equipment [Line Items]
Property and Equipment, Useful Lives	3 years
Laboratory Equipment \| Minimum
Property Plant And Equipment [Line Items]
Property and Equipment, Useful Lives	3 years
Laboratory Equipment \| Maximum
Property Plant And Equipment [Line Items]
Property and Equipment, Useful Lives	6 years 6 months
Furniture \| Minimum
Property Plant And Equipment [Line Items]
Property and Equipment, Useful Lives	5 years
Furniture \| Maximum
Property Plant And Equipment [Line Items]
Property and Equipment, Useful Lives	16 years 6 months
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and Equipment, Useful Lives	2 years

Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019
Summary Of Significant Accounting Policy [Line Items]
REVENUES		$ 481
Operating lease liabilities	$ 3,185
Operating lease Right-of-Use assets	2,777		$ 3,022
Accounting Standards Update 2016-02
Summary Of Significant Accounting Policy [Line Items]
Operating lease liabilities			3,400
Operating lease Right-of-Use assets			$ 3,400
Allergan
Summary Of Significant Accounting Policy [Line Items]
REVENUES	$ 0	$ 500
Type of Revenue [Extensible List]	urgn:RTGelMember	urgn:RTGelMember

Other Financial Information - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Other Financial Information [Abstract]
Accounts payable	$ 1,700	$ 4,272
Accrued clinical expenses	839	673
Accrued research and development costs	1,396	780
Accrued general and administrative expenses	1,298	1,029
Accrued other expense	709	1,786
Total accounts payable and accrued expenses	$ 5,942	$ 8,540

Other Financial Information - Schedule of Finance (Income) Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other Financial Information [Abstract]
Interest income on cash and cash equivalents	$ (1,010)	$ (422)
Realized loss on sale of short-term investment		100
Other finance expenses	21	64
Total finance income	$ (989)	$ (258)

Fair Value Measurements and Investments in Marketable Securities - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019 USD ($)
Fair Value Disclosures [Abstract]
Fair value assets, transfers between level 1 to level 2	$ 0
Fair value assets, transfers between level 2 to level 1	0
Fair value liabilities, transfers between level 1 to level 2	0
Fair value liabilities, transfers between level 2 to level 1	0
Fair value assets, transfers into level 3	0
Fair value assets, transfers out of level 3	0
Fair value liabilities, transfers into level 3	0
Fair value liabilities, transfers out of level 3	$ 0

Fair Value Measurements and Investments in Marketable Securities - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - Money Market Funds - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets:
Assets measured at fair value	$ 40,026	$ 89,965
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Assets measured at fair value	$ 40,026	$ 89,965

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Property and equipment	$ 1,733	$ 1,695
Less: accumulated depreciation and amortization	(804)	(747)
Property and equipment, net	929	948
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment	241	241
Computers and Software
Property Plant And Equipment [Line Items]
Property and equipment	309	271
Furniture
Property Plant And Equipment [Line Items]
Property and equipment	394	395
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment	561	561
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and equipment	$ 228	$ 227

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 0.1	$ 0.2

Leases - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
Leases - Additional Information (Details) - USD ($)	Apr. 30, 2018	Sep. 30, 2017	Mar. 31, 2019	Dec. 31, 2018
Lessee Lease Description [Line Items]
Operating leases, existence of option to extend			true
Operating leases, options to extend lease term, description			In order to increase the office space rented and to extend the rent period until 2019. In March 2019, UPL utilized the agreement extension option and extended the rent period for additional three years until August 2022
Operating leases, options to extend lease term			3 years
Operating lease extended lease expiration, month and year			2022-08
Impairment losses on operating leases			$ 0
Rent expense				$ 1,200,000
Minimum
Lessee Lease Description [Line Items]
Lease expiration year			2019
Maximum
Lessee Lease Description [Line Items]
Lease expiration year			2022
UroGen Pharma Inc.
Lessee Lease Description [Line Items]
Lease commencement date	Jul. 10, 2018	Oct. 31, 2017	May 31, 2016
Lease termination date	Mar. 31, 2024	Feb. 28, 2021
Proceeds from tenant allowance	$ 200,000

Leases - Components of Lease Cost (Details) $ in Thousands	3 Months Ended
Leases - Components of Lease Cost (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 302
Variable lease cost	30
Lease, Cost	$ 332

Leases - Schedule of Amounts Recognized Upon Adoption (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Operating lease Right-of-Use assets	$ 2,777	$ 3,022
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Long-term lease liability	$ 2,184	$ 2,429
Other current liabilities	$ 1,001	$ 929
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent

Leases - Schedule of Supplemental Information Related to Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operation leases	$ 256
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,022
Weighted-average remaining lease term of operating leases	3 years 3 months 29 days
Weighted-average discount rate of operating leases	7.24%

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 886
2020	1,220
2021	649
2022	492
2023	301
2024 and thereafter	58
Total future minimum lease payments	3,606
Less: Interest	421
Operating lease liabilities	$ 3,185
2019		$ 1,136
2020		1,251
2021		676
2022		567
2023		301
2024 and thereafter		58
Total future minimum lease payments		$ 3,989

License and Collaboration Agreements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Research And Development Arrangement Contract To Perform For Others [Line Items]
Revenues		$ 481
Allergan
Research And Development Arrangement Contract To Perform For Others [Line Items]
Revenues	$ 0	$ 500
Type of Revenue [Extensible List]	urgn:RTGelMember	urgn:RTGelMember
Allergan \| License Agreement
Research And Development Arrangement Contract To Perform For Others [Line Items]
Milestone payments received for licensing agreement	$ 25,000
Allergan \| License Agreement \| Maximum
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive	$ 200,000

Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Class Of Stock [Line Items]
Ordinary shares, shares authorized			100,000,000		100,000,000
Ordinary shares, issued			20,758,348		16,214,883
Ordinary shares, outstanding			20,758,348		16,214,883
Issuance of ordinary shares, consideration received net of underwriting discounts and commissions and issuance costs			$ 161,447	$ 64,193
Underwritten Public Offering
Class Of Stock [Line Items]
Issuance of ordinary shares, shares	4,207,317	1,682,926
Additional ordinary shares exercised under underwriters option to purchase at the public offering price	548,780	219,512
Issuance of ordinary shares, price per share	$ 41.00	$ 41.00
Issuance of ordinary shares, consideration received net of underwriting discounts and commissions and issuance costs	$ 161,400	$ 64,200

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions					1 Months Ended	3 Months Ended
	Jan. 03, 2019	Jan. 02, 2019	Oct. 12, 2018	Jan. 01, 2018	Mar. 31, 2017	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting period						1 year
Unrecognized compensation cost of options and RSUs						$ 63.2
Expected to be recognized over a weighted average period						2 years 4 months 24 days
Options \| Board Of Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants related option awards		$ 3.4
Options \| Elizabeth Barrett
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option to purchase of ordinary shares	277,432
Exercise price of option to purchase of ordinary shares	$ 47.57
Options \| General and Administrative and Research and Development Expenses \| Board Of Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated fair value of options granted		$ 2.8
Options \| Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage						33.00%
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting period						2 years
Restricted Stock Units (RSUs) \| Elizabeth Barrett
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option to purchase of ordinary shares	317,065
Restricted Stock Units (RSUs) \| Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage						33.00%
2017 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of ordinary share issuable under the 2017 incentive plan					1,400,000	5,600,000
Number of ordinary shares reserved for issuance, percentage						12.00%
Increase in number of ordinary share issuable under the 2017 incentive plan			1,900,000	250,167
Stock Options and Restricted Stock Units (RSUs) \| Elizabeth Barrett
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value	$ 24.1
Plan \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting period						3 years
Combined voting power percentage						10.00%
Ordinary Shares \| 2017 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of ordinary share issuable under the 2017 incentive plan			3,550,167	1,650,167
Maximum \| Plan \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted, expected term						10 years
Minimum \| Plan \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of stock options as percentage of fair market value of shares on grant date						100.00%
Stock options exercise price percentage for individuals possesses more than 10% of the combined voter power						110.00%

Share Based Compensation - Schedule of Effect of Share-Based Compensation on Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation	$ 7,447	$ 4,541
Research and Development Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation	2,338	2,473
General and Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation	$ 5,109	$ 2,068

Related Parties - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
	Apr. 30, 2018	Sep. 30, 2017	Mar. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Operating lease liabilities			$ 3,185,000
UroGen Pharma Inc.
Related Party Transaction [Line Items]
Lease agreement date			Nov. 30, 2015
Lease commencement date	Jul. 10, 2018	Oct. 31, 2017	May 31, 2016
Gain (loss) on disposal of fixed assets				$ 200,000
Operating lease liabilities				$ 0

Commitments and Contingencies - Additional Information (Details) - IIA $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2019 USD ($)
Commitments And Contingent Liabilities [Line Items]
Royalty paid		$ 0.8
Minimum
Commitments And Contingent Liabilities [Line Items]
Royalty fees payable on product sales, percentage		3.00%
Maximum
Commitments And Contingent Liabilities [Line Items]
Royalty fees payable on product sales, percentage		5.00%
Maximum percentage of royalty payable on grant received	300.00%	100.00%
Royalty amount payable	$ 2.1	$ 2.1