Wolfe Research initiated coverage of CG Oncology with a Peer Perform rating. CG Oncology faces key upcoming catalysts from its PIVOT-006 Phase 3 readout in intermediate-risk Non-Muscle Invasive Bladder Cancer in 1H26 and a potential approval in BCG-unresponsive NMIBC, though expectations remain cautious around early commercial uptake in BCG-UR disease and adoption in the intermediate-risk segment despite a generally positive clinical outlook, the analyst tells investors in a research note.