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CG Oncology, Inc.
(NASDAQ:CGON)
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Rating:60Neutral
Price Target:
$76.00
▲(9.64% Upside)
Action:Reiterated
Date:08/06/26
The score is anchored by strong financial flexibility (very low debt and large cash/equity base) and positive price trend/momentum signals. Offsetting these, the investment case is pressured by very large operating losses and ongoing cash burn, while valuation is difficult to support with negative earnings and no dividend yield.
Positive Factors
Cash runway
A billion-dollar liquidity cushion provides durable financial flexibility to fund pivotal trials, regulatory submissions, manufacturing scale-up and commercial-readiness without immediate reliance on dilutive financing. This supports execution through key clinical readouts and near-term commercialization activities.
Negative Factors
High cash burn
Sustained negative operating and free cash flow at this magnitude will materially erode liquidity over time if not reduced or offset by approvals, partnerships or new financing. High burn increases probability of dilution or program cutbacks and puts pressure on capital allocation decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash runway
A billion-dollar liquidity cushion provides durable financial flexibility to fund pivotal trials, regulatory submissions, manufacturing scale-up and commercial-readiness without immediate reliance on dilutive financing. This supports execution through key clinical readouts and near-term commercialization activities.
Read all positive factors
CG Oncology, Inc. (CGON) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.84B
Dividend YieldN/A
Average Volume (3M)1.14M
Price to Earnings (P/E)―
Beta (1Y)1.59
Revenue Growth1030.31%
EPS Growth-60.33%
CountryUS
Employees142
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.70
Shares Outstanding88,640,370
10 Day Avg. Volume953,036
30 Day Avg. Volume1,136,525
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$92.00Price Target Upside32.72% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)-3.27
Revenue Forecast (FY)$4.19M
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
CG Oncology is a clinical-stage company and, based on publicly available information, does not have an approved commercial product generating recurring product sales. As a result, the company’s revenue is primarily expected to come from (1) future...
CG Oncology, Inc. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.23M | 4.04M | 1.14M | 204.00K | 191.00K | 10.36M |
| Gross Profit | -5.15M | -607.00K | -80.96M | -45.55M | 176.00K | 10.35M |
| EBITDA | -222.27M | -159.55M | -88.01M | -48.59M | -35.43M | -12.38M |
| Net Income | -224.38M | -161.00M | -88.04M | -48.61M | -35.44M | -12.84M |
Balance Sheet | ||||||
| Total Assets | 1.09B | 791.59M | 754.80M | 199.30M | 147.75M | 58.69M |
| Cash, Cash Equivalents and Short-Term Investments | 1.03B | 742.15M | 742.00M | 187.67M | 143.48M | 53.61M |
| Total Debt | 8.82M | 7.02M | 238.00K | 1.03M | 15.94M | 15.13M |
| Total Liabilities | 56.54M | 38.99M | 21.42M | 14.51M | 22.57M | 18.44M |
| Stockholders Equity | 1.03B | 752.60M | 733.38M | 184.79M | 125.18M | 40.25M |
Cash Flow | ||||||
| Free Cash Flow | -179.34M | -132.48M | -78.95M | -45.68M | -29.82M | -13.75M |
| Operating Cash Flow | -178.47M | -132.35M | -78.71M | -45.68M | -29.80M | -13.65M |
| Investing Cash Flow | -364.88M | -245.82M | -300.76M | -121.19M | -55.35M | -97.00K |
| Financing Cash Flow | 548.36M | 153.59M | 628.28M | 87.00M | 119.69M | 15.45M |
CG Oncology, Inc. Technical Analysis
Positive
69.32
Price Trends
69.59
Positive
67.80
Positive
58.70
Positive
Market Momentum
1.84
Negative
57.84
Neutral
62.07
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 69.32 is below the 20-day moving average (MA) of 73.29, below the 50-day MA of 69.59, and above the 200-day MA of 58.70, indicating a bullish trend. The MACD of 1.84 indicates Negative momentum. The RSI at 57.84 is Neutral, neither overbought nor oversold. The STOCH value of 62.07 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 |
|---|---|---|---|---|---|---|---|
60 Neutral | $6.84B | -28.56 | -25.20% | ― | 1030.31% | -60.33% | |
55 Neutral | $4.53B | -13.17 | -42.27% | ― | 23.86% | 19.60% | |
52 Neutral | $4.26B | -29.75 | -25.74% | ― | 121.47% | 36.95% | |
52 Neutral | $6.39B | -19.24 | -80.43% | ― | ― | -110.63% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.39B | -9.91 | -35.35% | ― | ― | 28.64% | |
50 Neutral | $6.57B | -16.39 | -72.57% | ― | ― | 4.92% |
* Healthcare Sector Average
CGON
CG Oncology, Inc.
80.68
55.15
216.02%
COGT
Cogent Biosciences
36.85
24.99
210.71%
ORIC
Oric Pharmaceuticals
14.65
5.14
54.05%
RLAY
Relay Therapeutics
20.74
17.34
510.00%
TNGX
Tango Therapeutics
25.20
18.45
273.33%
ERAS
Erasca
18.07
16.61
1137.67%
CG Oncology, Inc. Corporate Events
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
CG Oncology Highlights Q2 Results and Pipeline Progress
Positive
Aug 6, 2026
CG Oncology reported second-quarter 2026 results on August 6, 2026, highlighting accelerated investment in its cretostimogene program and a strengthened balance sheet. Cash, cash equivalents and marketable securities stood at about $1.0 billion as...
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...
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.