CG Oncology, Inc. (CGON) AI Stock Analysis

• Market Cap: $2.53B
• Dividend Yield: N/A
• Average Volume (3M): 755.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.85
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 113
• Sector: General
• Sector Strength: N/A
• Industry: Biotechnology
• EPS (TTM): -0.54
• Shares Outstanding: 76,247,580
• 10 Day Avg. Volume: 974,809
• 30 Day Avg. Volume: 755,595
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.52
• Enterprise Value/Revenue: 2.40K
• Enterprise Value/Gross Profit: 3.35K
• Enterprise Value/Ebitda: -8.41
• 1Y Price Target: $63.11
• Price Target Upside: 90.32% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 65 Neutral
• Price Target: $33.00 ▼(-0.48% Downside)

CG Oncology, Inc. shows potential due to promising clinical trial results and strong technical momentum. However, financial challenges and reliance on external funding present risks. The company's future success hinges on its ability to commercialize its drug pipeline and achieve revenue growth.

Positive Factors

Promising Clinical Trial Results

The successful Phase 3 trial results for cretostimogene grenadenorepvec indicate strong potential for regulatory approval and market entry, which could significantly enhance the company's revenue prospects and competitive position in the bladder cancer treatment market.

Strong Equity Position

A strong equity base relative to total assets provides financial stability, allowing the company to withstand operational challenges and invest in growth opportunities without immediate pressure from debt obligations.

Market Opportunity in Bladder Cancer

The potential to enter the non-muscle invasive bladder cancer market with a promising drug candidate positions CG Oncology to capture significant market share, driving long-term revenue growth and enhancing its competitive advantage.

Negative Factors

Financial Challenges

The absence of revenue and ongoing operating losses highlight financial vulnerabilities typical of early-stage biotech firms, potentially limiting the company's ability to sustain operations and invest in R&D without additional funding.

Reliance on External Funding

Dependence on external financing poses risks if capital markets become less favorable, which could constrain the company's ability to fund its pipeline development and delay commercialization efforts.

Leadership Instability

The recent CFO resignation and interim appointment may lead to strategic and operational uncertainties, affecting investor confidence and potentially disrupting financial planning and execution.

CG Oncology, Inc. Business Overview & Revenue Model

Company Description

CG Oncology, Inc. (CGON) is a biotechnology company focused on the development and commercialization of innovative therapies for the treatment of urologic cancers. The company is dedicated to addressing unmet medical needs by advancing its proprietary oncolytic immunotherapy platform, which utilizes genetically modified viruses to selectively replicate within and destroy cancer cells while sparing normal tissue. CG Oncology's pipeline includes lead product candidates targeting bladder cancer and other solid tumors.

How the Company Makes Money

CG Oncology, Inc. makes money primarily through the development and commercialization of its proprietary oncolytic immunotherapy treatments. The company's revenue model includes the potential for milestone payments, royalties, and licensing fees from partnerships with larger pharmaceutical companies. These partnerships may involve collaborative research and development agreements or licensing agreements for the distribution and marketing of CG Oncology's therapies. Additionally, the company may pursue direct commercialization of its products, subject to successful clinical trials and regulatory approval, to generate revenue through product sales.

CG Oncology, Inc. Financial Statement Overview

Summary

CG Oncology, Inc. is facing financial challenges typical of early-stage biotechnology firms, with no current revenue and significant operating losses. The strong equity position and cash reserves provide some stability, but the reliance on external funding indicates potential risks if capital markets shift. The company’s focus should be on achieving revenue growth and improving operational efficiencies to sustain long-term viability.

Income Statement

CG Oncology, Inc. reported zero revenue in the latest year, indicating challenges in generating income. The company has experienced consistent losses with deteriorating EBIT and EBITDA margins, reflecting operational inefficiencies and potential barriers in monetizing its biotechnology developments.

Balance Sheet

The company's strong equity base relative to total assets, demonstrated by a high equity ratio, provides a solid financial foundation. However, the minimal debt levels and high cash reserves suggest limited leverage but also an underutilization of potential financing for growth.

Cash Flow

The negative free cash flow and significant negative operating cash flow highlight ongoing cash burn issues. Despite substantial financing inflows, the company is heavily reliant on external funding for operations, which could pose risks if such funding diminishes.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	551.00K	1.14M	204.00K	191.00K	10.36M
Gross Profit	395.00K	1.14M	204.00K	176.00K	10.35M
EBITDA	-157.24M	-114.63M	-55.43M	-35.23M	-12.38M
Net Income	-86.66M	-88.04M	-48.61M	-35.44M	-12.84M
Balance Sheet
Total Assets	701.45M	754.80M	199.30M	147.75M	58.69M
Cash, Cash Equivalents and Short-Term Investments	661.05M	742.00M	187.67M	143.48M	53.61M
Total Debt	994.00K	238.00K	461.00K	15.94M	15.13M
Total Liabilities	31.09M	21.42M	14.51M	22.57M	18.44M
Stockholders Equity	670.36M	733.38M	184.79M	125.18M	40.25M
Cash Flow
Free Cash Flow	-94.06M	-78.95M	-45.68M	-29.82M	-13.75M
Operating Cash Flow	-93.82M	-78.71M	-45.68M	-29.80M	-13.65M
Investing Cash Flow	-142.45M	-300.76M	-121.19M	-55.35M	-97.00K
Financing Cash Flow	225.74M	628.28M	87.00M	119.69M	15.45M

CG Oncology, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 33.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CGON, the sentiment is Positive. The current price of 33.16 is above the 20-day moving average (MA) of 28.79, above the 50-day MA of 27.20, and above the 200-day MA of 27.06, indicating a bullish trend. The MACD of 2.01 indicates Negative momentum. The RSI at 72.42 is Negative, neither overbought nor oversold. The STOCH value of 84.03 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CGON.

CG Oncology, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CGON	65 Neutral	$2.53B	―	-20.95%	―	―	―
ARQT	58 Neutral	$2.12B	―	-57.33%	―	99.50%	65.91%
Sector *	55 Neutral	$6.69B	3.58	-15.92%	6.09%	10.91%	8.39%
IDYA	51 Neutral	$2.18B	―	-35.09%	―	-41.48%	-73.55%
BEAM	50 Neutral	$2.01B	―	-41.94%	―	-82.90%	-155.64%
IRON	43 Neutral	$2.10B	―	-26.36%	―	―	-22.19%
COGT	37 Underperform	$1.79B	―	-107.55%	―	―	2.25%

CG Oncology, Inc. Corporate Events

CG Oncology Highlights Drug Potential at Healthcare Conference

CG Oncology, Inc. presented an updated corporate presentation at the 23rd Annual Morgan Stanley Global Healthcare Conference on September 9, 2025, highlighting the potential of their investigational drug, cretostimogene grenadenorepvec, in treating bladder cancer. The presentation emphasized promising clinical trial results, including high response rates and a favorable safety profile, positioning the company to capitalize on a multi-billion dollar market opportunity in non-muscle invasive bladder cancer (NMIBC).

CG Oncology Announces Promising Phase 3 Trial Results

On September 5, 2025, CG Oncology announced updated data from its Phase 3 BOND-003 Cohort C trial, showing a 24-month complete response rate of 41.8% for cretostimogene monotherapy in high-risk non-muscle invasive bladder cancer patients unresponsive to BCG treatment. The trial demonstrated strong durability and tolerability, with no severe treatment-related adverse events reported, and 96.6% of patients were free from progression to muscle invasive disease at 24 months. The company plans to submit a Biologics License Application for cretostimogene in the fourth quarter of 2025, positioning it as a potential breakthrough treatment in this patient population.

CG Oncology Appoints Interim CFO After Resignation

CG Oncology, Inc. announced that its Chief Financial Officer, Corleen Roche, has resigned, with her departure effective on August 5, 2025. The company has appointed Robert Lapetina as the interim principal financial and accounting officer, effective the same date, until a permanent replacement is found.