Wedbush initiated coverage of CG Oncology (CGON) with an Outperform rating and $70 price target The firm notes the company is developing an oncolytic virus, cretostimogene grenadenorepvec, for the treatment of NMIBC. Wedbush believes cretostimogene’s mechanisms of action, including selective killing of tumor cells, and triggering of an anti-tumor immune response are critical to driving robust efficacy across high-risk BCG-unresponsive non-muscle invasive bladder cancer settings. Furthermore, the firm thinks cretostimogene’s favorable safety/tolerability profile and intravesical administration will allow for broad uptake in a large commercial market as a differentiated treatment option. Wedbush looks forward to completion of a BLA submission in 2026, as well as meaningful clinical readouts that it expects to drive shares higher, ahead of a potential commercial launch.
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