CGON · NASDAQ · Biotechnology

CG Oncology (CGON)

Developing cretostimogene for bladder cancer alongside contract fill-and-finish manufacturing.

$76.62
vs last close−1.63 (−2.08%)
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CG Oncology, Inc. Common stockCGON
Health Care

Develops intravesical cretostimogene for high-risk and intermediate-risk non-muscle invasive bladder cancer, while controlled subsidiary Biovire earns contract fill-and-finish manufacturing revenue. No drug is approved or sold, leaving the business dependent on its sole candidate's clinical, regulatory, manufacturing, and commercialization path.

Develops cretostimogene grenadenorepvec, an intravesically delivered oncolytic immunotherapy designed to destroy tumor cells directly and activate an immune response. The sole drug candidate targets bladder cancer through BOND-003 in high-risk BCG-unresponsive non-muscle invasive disease and PIVOT-006 in intermediate-risk disease.

Extends the program through CORE-008 monotherapy and combination cohorts across high-risk settings, alongside a North American expanded-access pathway. Completed late-stage trial enrollment, published BOND-003 results, and initiated a rolling U.S. biologics license application for the initial high-risk indication.

Generates commercial revenue through controlled subsidiary Biovire, which provides fill-and-finish manufacturing services and produces cretostimogene clinical supply. No product is approved or sold; clinical progress, regulatory approval, and commercialization depend on the sole candidate, while clinical trials and parts of manufacturing and distribution still rely on third parties.

Company facts

CEOArthur Kuan
ListedJan 25, 2024
ExchangeNASDAQ
HeadquartersDallas, TX
CountryUnited States
Employees142
CIK0001991792
ISINUS1569441009

Market cap$6.90B
EPS (ttm)−$2.70
P/E (ttm)−28.98
ROE-25.2%
P/B6.71
P/S1,108.20
Dividend yieldDiv yield
Beta1.14vs XLV 0.58

Price target$85.00+8.6%Average of 10 analysts
ConsensusBuy10 of 10 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Aug 7, 2026Truist FinancialTarget
Target: $82
Target: $85
Jul 29, 2026H.C. WainwrightReiterate
Rating: Target: $75
Rating: BuyTarget: $100
May 14, 2026Truist FinancialTarget
Target: $75
Target: $82
May 11, 2026RBC CapitalReiterate
Rating: Target: $79
Rating: OutperformTarget: $81
May 11, 2026WedbushReiterate
Rating: Target: $70
Rating: OutperformTarget: $80

Next report
Nov 13, 26
estimated · in 52 days
EPS estimate
−$0.86
Revenue estimate
$547.7K
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Mar '25May '25Aug '25Nov '25Feb '26May '26Aug '26Nov '26
Reported−$0.48−$0.45−$0.54−$0.57−$0.51−$0.71−$0.90Pending
Estimate−$0.41−$0.39−$0.49−$0.56−$0.61−$0.58−$0.66−$0.86
Surprise−17.1%−15.4%−10.2%−2.0%+16.4%−22.4%−35.5%

RevenueReportedEstimate

Mar '25May '25Aug '25Nov '25Feb '26May '26Aug '26Nov '26
Reported$456.0K$52.0K$1.7M$2.3M$1.1M$1.2MPending
Estimate$124.0K$118.2K$81.6K$59.4K$450.5K$453.0K$360.8K$547.7K
Surprise+267.9%−56.0%+2,706.4%+412.9%+139.1%+220.7%
Estimate−$0.86
ReportedDue Nov 13, 2026
Estimate$547.7K
ReportedDue Nov 13, 2026
View details

Debt to equity0.90%
Current ratio2,221.90%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$43.0K$456.0K$52.0K$0$1.7M$2.3M$1.1M$1.2M
Net income−$20.4M−$31.8M−$34.5M−$41.4M−$43.8M−$41.3M−$60.2M−$79.1M
Net margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income−$28.3M−$38.0M−$42.2M−$48.7M−$51.1M−$48.7M−$66.4M−$86.4M
YoY growthLoss widenedLoss widenedLoss widenedLoss widenedLoss widenedLoss widenedLoss widenedLoss widened

Balance sheet, Jun 30, 2026Cash & short-term investments $1.03B · Total debt $8.8M · Total assets $1.09B · Shareholders' equity $1.03B

Revenue
$1.2M
Operating income
−$86.4M
Net income
−$79.1M
View details

No dividends on record.

Institutions106.57%94.46M shares
246 holders · as of Jun 30, 2026
Insiders4.19%3.72M shares
2 holders · as of Mar 13, 2026
Strategic holders16.26%14.41M shares
3 holders · as of Feb 14, 2025
Adds to127.02%

88.64M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

These groups come from separate filings that can overlap, so they add to 127.02%; nothing is left for Other.

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
RTW Investments, LPInstitution
9.61%8.51Mas of Jun 30, 2026
T. Rowe Price Investment Management, Inc.Institution
7.46%6.62Mas of Jun 30, 2026
Decheng Capital LLCInstitution
7.19%6.37Mas of Jun 30, 2026
BlackRock, Inc.Institution
7.06%6.26Mas of Jun 30, 2026
Unique Diamond Investments LimitedStrategic
6.27%5.56Mfiled Jul 22, 2024

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Sep 15, 2026Leonard E. Postdirector−1,000$72.98
Aug 14, 2026Leonard E. Postdirector−1,000$74.54
Jul 15, 2026Leonard E. Postdirector−1,000$71.17
Jul 10, 2026James Mulaydirector−24,165$75.16
Jun 25, 2026Brian Guan-Chyun Liudirector+371,085$66.87
View details

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Compare

CompanyPriceChange
CG Oncology$76.62−2.08%$6.90B1,108.2
ImmunityBio$9.06+7.24%$8.85B53.4+93.9%
Johnson & Johnson$268.53−0.35%$649.40B31.222.66.6+6.6%
Merck$151.53+1.36%$369.24B119.617.65.6+5.1%
UroGen Pharma$42.84−0.83%$2.10B34.811.2+199.2%
enGene Therapeutics$2.04+3.83%$131.3M
Pfizer$27.84+0.36%$158.10B36.79.92.5+2.6%
Protara Therapeutics$3.68+4.70%$197.3M
Median36.720.16.6+6.6%