CG Oncology COO Ambaw Bellete Departs, Wolfe Maintains Rating
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Wolfe Research notes that CG Oncology announced the departure of the company's COO Ambaw Bellete this morning. The departure sounds more operational in nature and is not indicative of any disruption to ongoing programs, the firm says. adding that the company noted that the change has no impact on CMC, BLA filing timing, or the PIVOT-006 trial. Wolfe also learned that the CCO was not involved in PIVOT-006, which remains blinded and is under Vijay's team. Shares are weak following the news, though the firm views this as a temporary blip and would expect focus to return to the upcoming readout, which it believes is likely to be positive. Wolfe has a Peer Perform rating on the stock.
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Analyst Views on CGON
Wall Street analysts forecast CGON stock price to rise
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 60.730
Low
65.00
Averages
79.73
High
108.00
Current: 60.730
Low
65.00
Averages
79.73
High
108.00
About CGON
CG Oncology, Inc. is a late-stage clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for patients afflicted with bladder cancer. The Company’s product candidate, cretostimogene grenadenorepvec (cretostimogene) is in clinical development for the treatment of patients with non-muscle invasive bladder cancer (NMIBC). Its BOND-003 is in Phase III clinical trial, which is designed to assess the safety and efficacy of cretostimogene in high-risk Bacillus Calmette Guerin (BCG)-unresponsive NMIBC when administered as a monotherapy. Its CORE-001 is a Phase II single-arm, open-label clinical trial of cretostimogene administered with BCG-unresponsive NMIBC. Its portfolio also includes PIVOT-006, a Phase III trial to assess the safety and efficacy of adjuvant cretostimogene when administered as monotherapy to patients with intermediate-risk NMIBC following transurethral resection of the bladder tumor (TURBT).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CG Oncology Reports Mixed Q1 Results
- Financial Performance: CG Oncology reported a Q1 loss of $0.71 per share alongside sales of $1.083 million, indicating challenges in revenue growth that could impact investor confidence.
- Analyst Adjustments: Following the disappointing results, analysts have adjusted their price targets for CG Oncology, reflecting market concerns regarding the company's future profitability, which may lead to stock price volatility.
- Market Reaction: Investor reactions to the earnings report have been mixed, with some analysts noting that the loss exceeded expectations, potentially affecting the company's ability to secure financing and expand in the market.
- Future Outlook: Despite the current financial struggles, CG Oncology needs to develop effective strategies to improve performance and attract more investor interest in its potential market opportunities.
See More
CG Oncology Reports Q1 Earnings with Significant Cash Position Growth
- Earnings Report: CG Oncology's Q1 GAAP EPS stands at -$0.71, indicating challenges in profitability that could impact investor confidence moving forward.
- Revenue Performance: The company reported revenue of $1.08 million for the first quarter, reflecting pressure in the market despite cash inflows, which may hinder growth prospects.
- Cash Position Growth: As of March 31, 2026, CG Oncology's cash, cash equivalents, and marketable securities totaled $1.1 billion, a significant increase from $742.2 million as of December 31, 2025, showcasing enhanced financing capabilities.
- Financing Activity: The company raised approximately $391.4 million in net proceeds from the sale of 6,941,407 shares through its at-the-market facility in Q1, indicating successful engagement with high-quality investors and bolstering its financial stability.
See More
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- Financial Performance: CG Oncology's Q1 2026 report reveals a GAAP EPS of -$0.71, with revenue reaching $1.08 billion, indicating ongoing challenges in achieving profitability despite substantial sales figures.
- Cash Position: As of March 31, 2026, the company reported cash, cash equivalents, and marketable securities totaling $1.1 billion, a significant increase from $742.2 million as of December 31, 2025, reflecting positive progress in its financing activities.
- Financing Activities: In Q1 2026, CG Oncology raised approximately $391.4 million in net proceeds from the sale of 6,941,407 shares through its at-the-market facility, which not only bolstered its cash flow but also demonstrated confidence from high-quality funds.
- Rating Downgrade: Despite the improved cash position, Seeking Alpha downgraded CG Oncology's quant rating, indicating market concerns regarding its reasonable valuation, which may negatively impact investor confidence.
See More
CG Oncology Reports Q1 2026 Financial Results and Milestones
- BLA Submission Progress: CG Oncology has successfully completed the non-clinical and clinical modules for its first BLA submission, with completion expected in Q4 2026, ensuring market access in the HR BCG-unresponsive NMIBC space and enhancing future revenue potential.
- Clinical Trial Data: Topline data from the PIVOT-006 Phase 3 trial is anticipated in the first half of 2026, while initial results from the CORE-008 Phase 2 trial will be presented at the 2026 AUA meeting, potentially providing new treatment options and market opportunities for the company.
- Improved Financial Position: As of March 31, 2026, the company reported cash and cash equivalents of $1.1 billion, a significant increase from $742.2 million as of December 31, 2025, ensuring sufficient funding for operations through 2029 and boosting investor confidence.
- Strengthened Executive Team: In April 2026, Jim DeTore was appointed as Chief Financial Officer, bringing over 30 years of life sciences experience, which is expected to enhance the company's financing and investor relations strategies, supporting future growth.
See More
CG ONCOLOGY INC Reports Q1 2026 Net Loss of $0.71 per Share
- Financial Performance: The company reported a net loss of $0.71 per share for Q1 2026.
- Market Impact: The financial results may influence investor sentiment and stock performance moving forward.
See More
Kynam Capital Reduces Stake in CG Oncology
- Share Reduction Details: Kynam Capital sold 1,059,375 shares of CG Oncology in Q4 2026 for an estimated $43.84 million, indicating a cautious outlook on the company's future performance.
- Ownership Percentage Change: Following the sale, CG Oncology now represents 2.51% of Kynam's holdings, down from 6.0% in the previous quarter, reflecting a decline in investor confidence in the stock.
- Company Financial Overview: CG Oncology has a market capitalization of $5.5 billion, with annual revenue of only $4 million and a net loss of $160.1 million, highlighting its ongoing clinical-stage status and profitability challenges.
- Future Growth Potential: Despite these challenges, CG Oncology holds over $740 million in cash, providing runway until 2029, with upcoming Phase 3 data expected to significantly impact stock performance and investor sentiment.
See More
CG Oncology Reports Mixed Q1 Results
- Financial Performance: CG Oncology reported a Q1 loss of $0.71 per share alongside sales of $1.083 million, indicating challenges in revenue growth that could impact investor confidence.
- Analyst Adjustments: Following the disappointing results, analysts have adjusted their price targets for CG Oncology, reflecting market concerns regarding the company's future profitability, which may lead to stock price volatility.
- Market Reaction: Investor reactions to the earnings report have been mixed, with some analysts noting that the loss exceeded expectations, potentially affecting the company's ability to secure financing and expand in the market.
- Future Outlook: Despite the current financial struggles, CG Oncology needs to develop effective strategies to improve performance and attract more investor interest in its potential market opportunities.
See More
CG Oncology Reports Q1 Earnings with Significant Cash Position Growth
- Earnings Report: CG Oncology's Q1 GAAP EPS stands at -$0.71, indicating challenges in profitability that could impact investor confidence moving forward.
- Revenue Performance: The company reported revenue of $1.08 million for the first quarter, reflecting pressure in the market despite cash inflows, which may hinder growth prospects.
- Cash Position Growth: As of March 31, 2026, CG Oncology's cash, cash equivalents, and marketable securities totaled $1.1 billion, a significant increase from $742.2 million as of December 31, 2025, showcasing enhanced financing capabilities.
- Financing Activity: The company raised approximately $391.4 million in net proceeds from the sale of 6,941,407 shares through its at-the-market facility in Q1, indicating successful engagement with high-quality investors and bolstering its financial stability.
See More
CG Oncology Reports Q1 2026 Financial Results with Significant Cash Increase
- Financial Performance: CG Oncology's Q1 2026 report reveals a GAAP EPS of -$0.71, with revenue reaching $1.08 billion, indicating ongoing challenges in achieving profitability despite substantial sales figures.
- Cash Position: As of March 31, 2026, the company reported cash, cash equivalents, and marketable securities totaling $1.1 billion, a significant increase from $742.2 million as of December 31, 2025, reflecting positive progress in its financing activities.
- Financing Activities: In Q1 2026, CG Oncology raised approximately $391.4 million in net proceeds from the sale of 6,941,407 shares through its at-the-market facility, which not only bolstered its cash flow but also demonstrated confidence from high-quality funds.
- Rating Downgrade: Despite the improved cash position, Seeking Alpha downgraded CG Oncology's quant rating, indicating market concerns regarding its reasonable valuation, which may negatively impact investor confidence.
See More
CG Oncology Reports Q1 2026 Financial Results and Milestones
- BLA Submission Progress: CG Oncology has successfully completed the non-clinical and clinical modules for its first BLA submission, with completion expected in Q4 2026, ensuring market access in the HR BCG-unresponsive NMIBC space and enhancing future revenue potential.
- Clinical Trial Data: Topline data from the PIVOT-006 Phase 3 trial is anticipated in the first half of 2026, while initial results from the CORE-008 Phase 2 trial will be presented at the 2026 AUA meeting, potentially providing new treatment options and market opportunities for the company.
- Improved Financial Position: As of March 31, 2026, the company reported cash and cash equivalents of $1.1 billion, a significant increase from $742.2 million as of December 31, 2025, ensuring sufficient funding for operations through 2029 and boosting investor confidence.
- Strengthened Executive Team: In April 2026, Jim DeTore was appointed as Chief Financial Officer, bringing over 30 years of life sciences experience, which is expected to enhance the company's financing and investor relations strategies, supporting future growth.
See More
CG ONCOLOGY INC Reports Q1 2026 Net Loss of $0.71 per Share
- Financial Performance: The company reported a net loss of $0.71 per share for Q1 2026.
- Market Impact: The financial results may influence investor sentiment and stock performance moving forward.
See More
Kynam Capital Reduces Stake in CG Oncology
- Share Reduction Details: Kynam Capital sold 1,059,375 shares of CG Oncology in Q4 2026 for an estimated $43.84 million, indicating a cautious outlook on the company's future performance.
- Ownership Percentage Change: Following the sale, CG Oncology now represents 2.51% of Kynam's holdings, down from 6.0% in the previous quarter, reflecting a decline in investor confidence in the stock.
- Company Financial Overview: CG Oncology has a market capitalization of $5.5 billion, with annual revenue of only $4 million and a net loss of $160.1 million, highlighting its ongoing clinical-stage status and profitability challenges.
- Future Growth Potential: Despite these challenges, CG Oncology holds over $740 million in cash, providing runway until 2029, with upcoming Phase 3 data expected to significantly impact stock performance and investor sentiment.
See More
