Urovant Sciences Ltd (UROV)

EOY i believe

When's the FDA approval?

Wasn't expecting this until after FDA approval, looks like Sumitovant saw it trading so cheap and decided to buyout out early at a discount.

BINGO

Finally, Sumitomo, a japanese company, owns 75% of the outstanding shares. Urovant does not need seasoned equity offerings to raise capital because Sumitomo has offered debt financing, preventing dilution. It is most likely Urovant will eventually be bought out fully by Sumitomo as Urovant finishes building out its commercial and market access infrastructure. Sumitomo will benefit from allowing Urovant to build out its own team because of the large equity ownership by the management team. This has allowed for a state of the art team to be constructed, which benefits Sumitomo, which has no United States infrastructure to launch Vibegron.

While Urovant's vibegron is by far the superior asset compared to Astellas' Mirabegron, as seen in the image below. There is still some concern about Urovant's performance entering a market which will soon be filled with generics as well as Myrbetriq. This is a valid concern, however Urovant does have an ace up it's sleeve. Vibegron is crushable. Long term care will be a very important market for Urovant to leverage. It is very common for elderly patients to have issues with OAB, with Vibegron being crushable, Urovant has an incredible advantage compared to other products on the market.

Astellas' myrbetriq achieved $900 MM of sales within its first 5 years on the market. In 2019, Myrbetriq had $1501 MM of sales in the US.

As Astellas' Mirabegron (myrbetriq) is closing in on its exclusivity expiration date, vibegron and Urovant Sciences is positioned very well in the marketplace to pick up their market share. Vibegron is already commercially approved in japan by Kyorin Pharmaceuticals.

C C transcript

https://seekingalpha.com/article/4354603-urovant-sciences-ltd-urov-on-q4-2019-results-earnings-call-transcript?part=single

Urovant Sciences Announces Collaboration with Sunovion Pharmaceuticals
Business Wire Business Wire•June 18, 2020
Urovant Sciences Announces Collaboration with Sunovion Pharmaceuticals
Urovant Sciences (Nasdaq: UROV) today announced it has entered into an exclusive three-year distribution agreement with Sunovion Pharmaceuticals Inc. (Sunovion) for services to support the commercialization of vibegron, an investigational agent for the treatment of overactive bladder. Both companies are subsidiaries of Sumitomo Dainippon Pharma Co., Ltd.

The co-promotion agreement will enable Urovant to leverage Sunovion’s commercial infrastructure to increase efficiency of the planned launch of vibegron. The agreement covers services such as account management, contract operations, third party logistics, and trade and retail distribution.

"Our affiliation with Sunovion through the Sumitomo Dainippon Pharma family of companies allows us to capitalize on the expertise and scale of Sunovion’s operational infrastructure," said Kenton Stewart, SVP of Market Access of Urovant Sciences. "Through our combined efforts, we will accelerate preparations for our anticipated launch of vibegron in the U.S. market."

"We are pleased to enter into this relationship with Urovant," said Thomas Gibbs, SVP and Chief Commercial Officer of Sunovion. "This agreement will enable Urovant to access Sunovion’s well-established commercial capabilities as together we prepare for the launch of this important investigational medicine."

Jefferies presentation

http://ir.urovant.com/events-and-presentations