Goldman Sachs analyst Corinne Johnson upgraded CG Oncology to Buy from Neutral with a $50 price target. Following the recent clinical data from BOND-003, the Phase 2 study of cretostimogene, presented at AUA, the firm says the data reinforced its positive view on the clinical outlook for cretostimogene in high-risk non-muscle invasive bladder cancer and it raised its view of the odds of success to 85% from 75% previously. The firm also sees a large commercial opportunity for cretostimogene in NMIBC and views the overall data package as “competitive” compared to approved and clinical-stage products.
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