CG Oncology, Inc. Common stock (CGON) Stock

CG Oncology, Inc. Common stock (CGON) is a Healthcare stock trading at $77.63 (as of 2026-08-20), with a market capitalization of $6.88B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

CG Oncology, Inc. is a clinical biopharmaceutical company developing and commercializing a bladder-sparing therapeutic for people with bladder cancer. Its lead candidate, cretostimogene, is in clinical development for patients with high-risk non-muscle invasive bladder cancer who do not respond to BCG therapy.

Understand CG Oncology, Inc. Common stock: how it makes money

CG Oncology develops and aims to commercialize cretostimogene, a potential bladder-sparing therapeutic for high-risk non-muscle invasive bladder cancer patients who are unresponsive to BCG, with revenue expected to come from commercial sales and, potentially, licensing and collaborations.

The profit model is primarily a clinical-development conversion story, success with cretostimogene can enable commercial product revenue or licensing and collaboration revenue, while until then revenue can remain very limited.

Revenue by segment (latest quarter)
Comm Dev$0.0B
Lic Collab$0.0B

Business quality (Weak): Clear focus on a specific bladder cancer population and multiple efficacy KPIs, but the company has no reported revenue in the latest quarter and remains heavily dependent on continuing clinical outcomes.

Bull case

  • High-Grade Event-Free Survival in the target population: High-Grade Event-Free Survival, 6 Months - High-Risk Bacillus Calmette Guerin Unresponsive Ta/T1 Disease is reported at 84.6%.
  • Durable response signals in BOND-003: Complete Response Rate at 24 Months - BOND-003 Cohort C is reported at 41.8%, and Cystectomy-Free Survival at 24 Months (among patients in complete response) is reported at 91.6%.

Bear case

  • No reported revenue yet: For the latest reported period, revenue is 0.0B, with Commercial and Development Revenue, License and Collaboration Revenue, and Collaboration and Development Revenue all at 0.0B.
  • Development-stage risk remains central: The company is still focused on clinical development of cretostimogene, so operating performance depends on continued clinical results translating into regulatory and commercial outcomes.
  • Very large operating losses: The latest quarter shows an operating margin of -6130.1%.
Valuation — source: SEC EDGAR (first-party)
Price$77.63
Market Cap$6.88B
Price / Book6.69
Price / Sales1379.26
FCF Yield-4.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$4.04M
Net Margin-3985.0%
Revenue Growth (YoY)254.7%
EPS Growth (YoY)47.5%
FCF Growth (YoY)67.8%
Financial Health — source: SEC EDGAR
Altman Z-Score100.51 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderRTW INVESTMENTS, LP ($472.73M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOArthur Kuan
Employees113
CountryUS
IPO Date2024-01-25

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

  • Apogee Therapeutics, Inc. (APGE)
  • Kymera Therapeutics, Inc. (KYMR)
  • Krystal Biotech, Inc. (KRYS)
  • Immunovant, Inc. (IMVT)
  • Vaxcyte, Inc. (PCVX)
  • Twist Bioscience Corporation (TWST)
  • ImmunityBio, Inc. (IBRX)
  • Scholar Rock Holding Corporation (SRRK)
CGON earnings history · CGON institutional & insider holders · CGON KPIs & operating metrics · CGON financials · CGON investor presentations & press releases · CGON SEC filings · CGON peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.