Traders should monitor upcoming topline data from PIVOT-006 and CORE-008 Cohort CX in 1H 2026, which could serve as key value inflection points. The expanded cash runway into 2029 reduces near-term dilution risk.
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Executive Summary
CG Oncology reported financial results for Q4 and full year 2025, highlighting a cash position of $742.2 million as of December 31, 2025, with an increase to $903.0 million by February 26, 2026, due to ATM share sales. The company expects this cash to fund operations into the first half of 2029. Key upcoming catalysts include topline Phase 3 data from the PIVOT-006 trial in intermediate-risk NMIBC and Phase 2 combination data from CORE-008 Cohort CX, both expected in the first half of 2026.
Key Financial Metrics
Key Facts
- Cash, cash equivalents, and marketable securities were $742.2 million as of December 31, 2025, and increased to $903.0 million by February 26, 2026.
- Net loss attributable to common stockholders was $161.0 million for full year 2025, up from $88.0 million in 2024.
- R&D expenses increased to $116.6 million in 2025 from $82.1 million in 2024; G&A rose to $73.5 million from $33.7 million.
- Topline Phase 3 data from PIVOT-006 trial in intermediate-risk NMIBC expected in 1H 2026.
- First results from Phase 2 CORE-008 Cohort CX (cretostimogene + gemcitabine) in high-risk NMIBC expected in 1H 2026.
- BLA submission for HR BCG-unresponsive NMIBC planned for 2026.
Financial Impact
Cash increased by ~$160.8 million in Q4 2025 and early 2026 via ATM equity sales; net loss widened to $161.0 million in 2025 from $88.0 million in 2024.
Risk Factors
- Clinical trial results may not meet expectations, particularly in registrational trials like PIVOT-006.
- Increased operating expenses and widening net losses could pressure valuation if revenue milestones are delayed.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3246513 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | Press Release | $74.85 $74.33 | ▲ +0.69% | ▲ +1.29% | $67.38 (+9.98%) |
Aug 6, 2026 8w ago | 424B5 | $74.85 $74.33 | ▲ +0.69% | ▲ +1.29% | $67.38 (+9.98%) |
Jul 27, 2026 9w ago | Press Release | $72.62 $78.95 | ▲ +8.72% | ▲ +5.34% | $67.38 (−7.22%) |
Jul 17, 2026 11w ago | Insider Cluster | $71.85 $75.03 | ▲ +4.43% | ▼ −0.02% | $67.38 (−6.22%) |
Jul 16, 2026 11w ago | Court Ruling | $69.50 $74.71 | ▲ +7.50% | ▲ +3.88% | $67.38 (−3.05%) |
Jun 24, 2026 14w ago | 144 | $72.84 $71.12 | ▼ −2.36% | ▼ −2.89% | $67.38 (−7.50%) |
Jun 22, 2026 14w ago | 144 | $65.73 $70.19 | ▲ +6.79% | ▲ +5.63% | $67.38 (+2.51%) |
Jun 12, 2026 16w ago | Institutional Cluster | $59.56 $75.24 | ▲ +26.33% | ▲ +24.55% | $67.38 (+13.13%) |
May 26, 2026 18w ago | 8-K | $61.89 $70.25 | ▲ +13.50% | ▲ +15.45% | $67.38 (+8.87%) |
May 15, 2026 20w ago | Press Release | $66.93 $59.56 | ▼ −11.01% | ▼ −13.13% | $67.38 (+0.67%) |
US Market Status
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