CG Oncology Inc.
CGON · Price history
Price at last available close
$63.96
−$5.65 (-8.12%) 1M
2026-10-28
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Company & revenue
About CG Oncology Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
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 investigational oncolytic immunotherapy, which is in phase 2 clinical trials of cretostimogene in patients with high-risk NMIBC after BCG failure; a phase 3 clinical trials to evaluate the safety and efficacy of cretostimogene as monotherapy in the treatment of patients who have received adequate BCG therapy with high-risk BCG-unresponsive, CIS-containing NMIBC and BCG-unresponsive Ta, or T1 papillary tumors; phase 3 BOND-003 Cohort C trials as a single agent; phase 3 BOND-003 Cohort P as a single agent in patients with BCG-UR papillary-only NMIBC. It also develops cretostimogene monotherapy for intermediate-risk NMIBC following TURBT, which is in phase 3 PIVOT-006 clinical trials to assess the safety and efficacy of adjuvant cretostimogene; and cretostimogene monotherapy for high-risk NMIBC in phase 2 CORE-008 clinical trials to assess the safety and clinical outcomes of cretostimogene in treating patients with high-risk NMIBC, including BCG-exposed and BCG-naïve NMIBC.
How they make money
CG Oncology is a clinical-stage biopharmaceutical company that generates revenue primarily through collaboration and license agreements. The company focuses on the development and commercialization of oncolytic immunotherapies for patients with bladder cancer, currently operating as a research and development entity without commercialized products.
Products & services
The company's primary product candidate is cretostimogene grenadenorepvec, an investigational, intravesically delivered oncolytic immunotherapy currently in late-stage clinical trials for bladder cancer.
Brands & revenue mix
Investigational oncolytic immunotherapy candidate.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
- Clinical trial patientsSource
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Contract Manufacturing Organizations — The company relies on third-party contract manufacturing organizations for the production of its clinical trial materials and drug candidates.Source
Competitors
Strengths
- Advanced clinical development program for cretostimogene grenadenorepvecSource
Sources
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Diluted weighted-average shares increased 15.7% year over year.
Compare per-share results with total earnings and inspect the equity footnote. A change in weighted-average shares does not by itself establish the cause, the number of shares issued today, or the economic effect of a split.
Total debt increased 787.2% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
31
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
45
Weak
Financial Strength
11
Business Quality / Moat
75
Management
40
Growth Quality
85
Risk / Durability
24
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
40
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
55/100
Building Historical Record
Model Score 55/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently moderate.
No strong positive signal is being highlighted from the currently available summary data.
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for CGON
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can CGON maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can CGON fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •How is CGON likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •What specifically needs to improve for CGON to reach sustainable profitability?
- •What future growth or profitability would be needed to justify CGON's current valuation?
Essential Investment Snapshot
Wall Street Score
31
Opportunity Score
40
Market Cap
$5.67B
P/E Ratio
-26.3
EPS
$-2.70
52-Week High
$80.97
52-Week Low
$35.80
Beta
0.24
Analyst Target
$83.00
Shares Outstanding
77.3M
Total Revenue
$6.2M
Total Debt
$8.8M
Dividend
No current dividend
Liquidation Value / Share
$13.31
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on CGON.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Advanced clinical development program for cretostimogene grenadenorepvec.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Biotechnology industry.
- −Substantial history of operating losses and expectation of future losses.
- −Dependence on the success of a single product candidate.
- −Diluted weighted-average shares increased 15.7% year over year.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
5 historical score records availablePrevious Score
31
Sep 14, 2026
Change
Unchanged
Current Score
31
Oct 1, 2026
Category Changes
CGON score was unchanged.
Projected Score
Projected Score
36
Projected Change
+5.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 5.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$63.96
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Large reported revenue change: +254.7%
Revenue changed sharply from 2024 to 2025. This can reflect a real business change, acquisition, divestiture, discontinued operations, restatement, or reporting-basis change. Compare the underlying filing before treating it as normal growth or decline.
TTM may combine quarters from before and after the event, so its trend can also be distorted.
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $6.2M | $4.0M | $1.1M | $204K | ···· | ···· |
| Cost of Revenue | -$47.3M | $4.6M | $82.1M | $45.8M | ···· | ···· |
| Gross Profit | $53.5M | -$607K | -$81.0M | -$45.5M | ···· | ···· |
| Research & Development | $156.2M | $116.6M | $82.1M | $45.8M | ···· | ···· |
| SG&A Expenses | $91.1M | $73.5M | $33.7M | $9.9M | ···· | ···· |
| Operating Expenses | $306.1M | $190.2M | $33.7M | $9.9M | ···· | ···· |
| EBITDA | -$222.3M | -$159.6M | -$88.0M | -$48.6M | ···· | ···· |
| Operating Income | -$252.6M | -$190.8M | -$114.7M | -$55.4M | ···· | ···· |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· |
| Income Before Tax | -$224.4M | -$161.0M | -$88.0M | -$48.6M | ···· | ···· |
| Income Tax Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· |
| Net Income | -$224.4M | -$161.0M | -$88.0M | -$48.6M | ···· | ···· |
| Basic EPS | $-2.70 | $-2.08 | $-1.41 | $-1.02 | ···· | ···· |
| Basic Shares | 88.20M | 77.30M | 62.50M | 66.64M | ···· | ···· |
| Diluted Shares | 88.20M | 77.30M | 62.50M | 66.64M | ···· | ···· |
Earnings Summary
Revenue
$1.2M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.90
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+787.2%
Cash Change
+34.3%
Margin Change
Not available
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included EPS growth, cash levels. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
EPS increased 66.7%. Cash increased 34.3%. Total debt increased 787.2%.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
5 historical recordsHistorical Score Chart
3 of 5 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · CGON
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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