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CG Oncology, Inc.
(NASDAQ:CGON)
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Rating:53Neutral
Price Target:
$75.00
▲(2.14% Upside)
Action:Reiterated
Date:06/30/26
The score is primarily held back by weak operating fundamentals—small revenue, negative gross profit, large losses, and heavy cash burn—despite a very strong, low-debt balance sheet that provides flexibility. Corporate events are a secondary positive (governance support and an experienced CFO hire), while valuation is constrained by ongoing losses and technical trend data is unavailable.
Positive Factors
Balance Sheet Strength
Extremely low leverage and sizable equity provide durable financial flexibility to fund R&D and potential commercialization windows without immediate refinancing. This cushion lengthens runway, supports strategic option value, and reduces near-term solvency risk even with ongoing operating losses.
Negative Factors
High Cash Burn
Sustained and increasing cash outflows create a persistent funding overhang that forces frequent capital raises or strategic partnerships. Over 2–6 months this structural burn rate pressures runway, risks dilution, and constrains the ability to scale commercial activities without new financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Extremely low leverage and sizable equity provide durable financial flexibility to fund R&D and potential commercialization windows without immediate refinancing. This cushion lengthens runway, supports strategic option value, and reduces near-term solvency risk even with ongoing operating losses.
Read all positive factors
CG Oncology, Inc. (CGON) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.21B
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth666.01%
EPS Growth-69.02%
CountryUS
Employees142
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.34
Shares Outstanding88,202,480
10 Day Avg. Volume1,658,029
30 Day Avg. Volume1,163,467
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 Cap0.85
Enterprise Value/Revenue1.05K
Enterprise Value/Gross Profit-157.33
Enterprise Value/Ebitda-28.75
Forecast
1Y Price Target
$91.55Price Target Upside24.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)-2.74
Revenue Forecast (FY)$11.76M
CG Oncology, Inc. Business Overview & Revenue Model
Company Description
CG Oncology, Inc., a late-stage clinical biopharmaceutical company, develops and commercializes cretostimogene grenadenorepvec for patients with bladder cancer in the United States. The company’s product candidate is cretostimogene, an investigati...
How the Company Makes Money
As a clinical-stage company, CG Oncology does not have publicly established, recurring commercial product revenue. Its funding has primarily come from external financing such as equity issuances (including proceeds from its IPO and follow-on offer...
CG Oncology, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
86
Very Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.07M | 4.04M | 1.14M | 204.00K | 191.00K | 10.36M |
| Gross Profit | -33.71M | -607.00K | 1.14M | 204.00K | 176.00K | 10.35M |
| EBITDA | -184.48M | -159.55M | -88.01M | -48.59M | -35.43M | -12.38M |
| Net Income | -186.75M | -161.00M | -88.04M | -48.61M | -35.44M | -12.84M |
Balance Sheet | ||||||
| Total Assets | 1.14B | 791.59M | 754.80M | 199.30M | 147.75M | 58.69M |
| Cash, Cash Equivalents and Short-Term Investments | 1.08B | 742.15M | 742.00M | 187.67M | 143.48M | 53.61M |
| Total Debt | 7.58M | 7.02M | 238.00K | 1.03M | 15.94M | 15.13M |
| Total Liabilities | 43.48M | 38.99M | 21.42M | 14.51M | 22.57M | 18.44M |
| Stockholders Equity | 1.09B | 752.60M | 733.38M | 184.79M | 125.18M | 40.25M |
Cash Flow | ||||||
| Free Cash Flow | -160.43M | -132.48M | -78.95M | -45.68M | -29.82M | -13.75M |
| Operating Cash Flow | -160.01M | -132.35M | -78.71M | -45.68M | -29.80M | -13.65M |
| Investing Cash Flow | -393.90M | -245.82M | -300.76M | -121.19M | -55.35M | -97.00K |
| Financing Cash Flow | 546.14M | 153.59M | 628.28M | 87.00M | 119.69M | 15.45M |
CG Oncology, Inc. Technical Analysis
Positive
73.43
Price Trends
64.64
Positive
63.90
Positive
53.73
Positive
Market Momentum
2.54
Negative
58.51
Neutral
54.07
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 73.43 is above the 20-day moving average (MA) of 63.95, above the 50-day MA of 64.64, and above the 200-day MA of 53.73, indicating a bullish trend. The MACD of 2.54 indicates Negative momentum. The RSI at 58.51 is Neutral, neither overbought nor oversold. The STOCH value of 54.07 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 82 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $3.23B | -1,357.81 | -1.41% | ― | 95.29% | 98.21% | |
65 Neutral | $3.58B | -24.92 | -13.96% | ― | 3118.14% | 55.95% | |
53 Neutral | $6.21B | -31.35 | -23.33% | ― | 666.01% | -69.02% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $2.91B | -11.60 | -36.95% | ― | ― | -68.57% | |
48 Neutral | $3.58B | -55.19 | -5.89% | ― | 157.97% | 86.11% | |
45 Neutral | $6.61B | -12.81 | -83.29% | ― | ― | 0.01% |
* Healthcare Sector Average
CGON
CG Oncology, Inc.
69.26
43.30
166.80%
COGT
Cogent Biosciences
39.44
29.66
303.27%
IDYA
IDEAYA Biosciences
39.37
17.92
83.54%
ARQT
Arcutis Biotherapeutics
26.07
12.31
89.46%
BEAM
Beam Therapeutics
35.32
15.02
73.99%
IRON
Disc Medicine
77.01
24.04
45.38%
CG Oncology, Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
CG Oncology Shareholders Back Directors and Governance Proposals
Positive
Jun 8, 2026
On June 4, 2026, CG Oncology, Inc. held its 2026 Annual Meeting of Stockholders, at which shareholders elected Christina Rossi and Victor Tong, Jr. as Class II directors to serve until the 2029 annual meeting, and ratified Ernst Young LLP as the ...
Business Operations and StrategyExecutive/Board Changes
CG Oncology Reshapes Executive Team Amid Leadership Transition
Neutral
May 26, 2026
On May 20, 2026, CG Oncology, Inc. announced that President and Chief Operating Officer Ambaw Bellete agreed to separate from the company, effective June 30, 2026. The company plans to provide severance benefits under his existing employment agree...
Business Operations and StrategyExecutive/Board Changes
CG Oncology Appoints Veteran Jim DeTore as Chief Financial Officer
Positive
Apr 13, 2026
On April 13, 2026, CG Oncology, Inc. appointed veteran biotech finance executive Jim DeTore as its Chief Financial Officer, formalizing his role after serving as Interim Principal Financial and Accounting Officer since November 2025. DeTore brings...
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.