Goldman Sachs keeps a Buy rating on CG Oncology (CGON) after Johnson & Johnson (JNJ) presented updated data from the Phase 3 SunRISe-1 study of TAR-200 in patients with BCG-unresponsive non-muscle invasive bladder cancer. TAR-200 monotherapy response rate at any time was maintained at 83.5%, while the combination arm achieved 67.9% complete response rate at any time, the analyst tells investors in a research note. The firm sees J&J’s update as “presenting limited downside” to CG, but says confusion on the interpretation of the Kaplan-Meier estimates is likely to persist pending the final results. Goldman believes the data presentation limits the ability to derive read-across on key endpoints. Shares of CG Oncology are up 10% to $38.40 in midday trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CGON:
- CG Oncology to Participate in the Morgan Stanley 22nd Annual Global Healthcare Conference
- CG Oncology initiated with a Buy at Roth MKM
- CG Oncology reports Q2 EPS (28c), consensus (37c)
- CG Oncology Reports Second Quarter 2024 Financial Results and Provides Business Updates
- CG Oncology 4.068M share Block Trade priced at $33.90