BofA lowered the firm’s price target on CG Oncology (CGON) to $60 from $62 as the firm pushes back launch timing for creto to 2027 and updates operating expense expectation. BofA keeps a Buy rating on the shares. The firm notes that the company announced in their Q3 print that they have initiated their rolling BLA submission to the FDA for creto in HR BCG-unresponsive NMIBC. BofA continues to see an attractive setup heading into the BLA/potential approval given creto’s durability and safety continue to shine.
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