CG Oncology, Inc. (CGON)
NASDAQ:CGON
Top Page
CG Oncology, Inc.
(NASDAQ:CGON)
Select Model
Select Model
Rating:61Neutral
Price Target:
$71.00
▲(5.22% Upside)
Action:ReiteratedDate:02/28/26
The score is driven primarily by weak profitability and heavy cash burn despite strong balance-sheet flexibility, partially offset by favorable technical momentum and a positive Phase 3 timeline acceleration. Traditional valuation metrics provide limited support due to ongoing losses.
Positive Factors
Strong balance sheet
A very low debt load and substantial equity base provide durable financial flexibility to fund ongoing Phase 3 work and operations without immediate refinancing pressure. This reduces default risk, supports partner negotiations, and lengthens runway versus highly leveraged peers.
Negative Factors
Large cash burn
Rapidly rising operating cash outflows materially shorten the company’s independent runway and increase dependency on external financing. Over a 2–6 month horizon this burn rate forces capital raises or cost reductions, constraining strategic optionality and increasing dilution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
A very low debt load and substantial equity base provide durable financial flexibility to fund ongoing Phase 3 work and operations without immediate refinancing pressure. This reduces default risk, supports partner negotiations, and lengthens runway versus highly leveraged peers.
Read all positive factors
CG Oncology, Inc. (CGON) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.70B
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth217.84%
EPS Growth-85.53%
CountryUS
Employees113
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.55
Shares Outstanding84,435,200
10 Day Avg. Volume1,383,605
30 Day Avg. Volume1,424,702
Financial Highlights & Ratios
PEG Ratio-0.42
Price to Book (P/B)4.26
Price to Sales (P/S)794.47
P/FCF Ratio-24.23
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue1.41K
Enterprise Value/Gross Profit-9.35K
Enterprise Value/Ebitda-33.94
Forecast
1Y Price Target
$86.36Price Target Upside27.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)-2.35
Revenue Forecast (FY)$21.54M
CG Oncology, Inc. Business Overview & Revenue Model
Company Description
CG Oncology Inc is a clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for patients afflicted with bladder cancer. Their product candidate cretostimogene, is initially in ...
How the Company Makes Money
null...
CG Oncology, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
78
Positive
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.04M | 1.14M | 204.00K | 191.00K | 10.36M |
| Gross Profit | -607.00K | 1.14M | 204.00K | 176.00K | 10.35M |
| EBITDA | -159.55M | -114.63M | -55.43M | -35.23M | -12.38M |
| Net Income | -161.00M | -88.04M | -48.61M | -35.44M | -12.84M |
Balance Sheet | |||||
| Total Assets | 791.59M | 754.80M | 199.30M | 147.75M | 58.69M |
| Cash, Cash Equivalents and Short-Term Investments | 742.15M | 742.00M | 187.67M | 143.48M | 53.61M |
| Total Debt | 7.02M | 238.00K | 1.03M | 15.94M | 15.13M |
| Total Liabilities | 38.99M | 21.42M | 14.51M | 22.57M | 18.44M |
| Stockholders Equity | 752.60M | 733.38M | 184.79M | 125.18M | 40.25M |
Cash Flow | |||||
| Free Cash Flow | -132.48M | -78.95M | -45.68M | -29.82M | -13.75M |
| Operating Cash Flow | -132.35M | -78.71M | -45.68M | -29.80M | -13.65M |
| Investing Cash Flow | -245.82M | -300.76M | -121.19M | -55.35M | -97.00K |
| Financing Cash Flow | 153.59M | 628.28M | 87.00M | 119.69M | 15.45M |
CG Oncology, Inc. Technical Analysis
Positive
67.48
Price Trends
58.96
Positive
51.13
Positive
41.67
Positive
Market Momentum
2.27
Positive
61.00
Neutral
70.41
Neutral
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 67.48 is above the 20-day moving average (MA) of 64.98, above the 50-day MA of 58.96, and above the 200-day MA of 41.67, indicating a bullish trend. The MACD of 2.27 indicates Positive momentum. The RSI at 61.00 is Neutral, neither overbought nor oversold. The STOCH value of 70.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CGON.
CG Oncology, Inc. Risk Analysis
CG Oncology, Inc. disclosed 81 risk factors in its most recent earnings report. CG Oncology, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CG Oncology, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $2.93B | -228.91 | -10.26% | ― | 129.21% | 80.35% | |
61 Neutral | $5.70B | ― | -22.87% | ― | 217.84% | -85.53% | |
54 Neutral | $2.51B | -34.27 | -7.31% | ― | -84.07% | -157.71% | |
52 Neutral | $2.88B | ― | -11.10% | ― | 5376.27% | 20.97% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $5.71B | -7.30 | -100.22% | ― | ― | 4.32% | |
43 Neutral | $2.49B | -13.21 | -32.80% | ― | ― | -34.96% |
* Healthcare Sector Average
CGON
CG Oncology, Inc.
67.48
50.56
298.82%
COGT
Cogent Biosciences
35.21
30.63
668.78%
IDYA
IDEAYA Biosciences
32.74
17.60
116.25%
ARQT
Arcutis Biotherapeutics
23.63
9.33
65.24%
BEAM
Beam Therapeutics
24.66
9.36
61.18%
IRON
Disc Medicine
65.18
25.98
66.28%
CG Oncology, Inc. Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
CG Oncology Expands At-The-Market Equity Offering Capacity
Neutral
Jan 13, 2026
On January 13, 2026, CG Oncology, Inc. filed an amended prospectus with the U.S. Securities and Exchange Commission to expand its existing open market stock offering program with Jefferies LLC, increasing the total aggregate offering capacity from...
Business Operations and StrategyProduct-Related Announcements
CG Oncology Accelerates Phase 3 Bladder Cancer Trial Timeline
Positive
Jan 9, 2026
On January 9, 2026, CG Oncology announced that topline data from its Phase 3 PIVOT-006 trial of adjuvant intravesical cretostimogene grenadenorepvec in intermediate-risk non-muscle invasive bladder cancer are now expected in the first half of 2026...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.