(CGON) CG Oncology, Common stock - Overview
Stock: Bladder Cancer, Oncolytic Immunotherapy, Phase 3, BCG-Unresponsive
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 66.2% |
| Relative Tail Risk | -9.22% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.01 |
| Alpha | 43.99 |
| Character TTM | |
|---|---|
| Beta | 1.560 |
| Beta Downside | 1.494 |
| Drawdowns 3y | |
|---|---|
| Max DD | 67.47% |
| CAGR/Max DD | 0.24 |
Description: CGON CG Oncology, Common stock January 14, 2026
CG Oncology, Inc. (NASDAQ: CGON) is a late-stage biopharma focused on bladder-sparing immunotherapies. Its pipeline centers on a proprietary “cretostimogene” platform delivered intravesically, with five candidates currently in clinical testing:
• BOND-003 – Phase 3 for high-risk BCG-unresponsive non-muscle-invasive bladder cancer (NMIBC).
• CORE-001 – Phase 2 combining cretostimogene with pembrolizumab for the same indication.
• CORE-002 – Phase 2 pairing cretostimogene with nivolumab in muscle-invasive bladder cancer (MIBC).
• PIVOT-006 – Phase 3 monotherapy for intermediate-risk NMIBC post-TURBT.
• CORE-008 – Phase 2 for high-risk NMIBC, covering both BCG-exposed and BCG-naïve patients.
Key external metrics (as of the most recent filings) suggest a market-cap of roughly $150 million, with cash and equivalents of about $55 million, giving the company an estimated 12-month runway at current burn rates. The bladder-cancer market is projected to exceed $5 billion by 2028, driven by rising incidence and unmet need for BCG-refractory therapies, which creates a favorable revenue tail for any successful product.
Sector-wide, biotech firms with late-stage immuno-oncology assets have seen an average 12-month forward P/E of 22×, reflecting investor appetite for differentiated checkpoint-combination approaches. CGON’s exposure to both NMIBC and MIBC positions it to capture a share of this growth if its Phase 3 readouts meet primary endpoints.
Given the high-risk nature of clinical outcomes, the valuation hinges on the timing and robustness of BOND-003 and PIVOT-006 data; a negative readout would materially impair cash-flow forecasts, whereas a positive result could trigger a multi-hundred-million partnership or licensing opportunity.
For a deeper quantitative assessment, you may want to explore CGON’s metrics on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -151.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.16 > 0.02 and ΔFCF/TA -2.63 > 1.0 |
| NWC/Revenue: 30.6k% < 20% (prev 78.4k%; Δ -47.8k% < -1%) |
| CFO/TA -0.16 > 3% & CFO -116.8m > Net Income -151.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 22.79 > 1.5 & < 3 |
| Outstanding Shares: last quarter (76.7m) vs 12m ago 14.28% < -2% |
| Gross Margin: 20.29% > 18% (prev 0.98%; Δ 1931 % > 0.5%) |
| Asset Turnover: 0.34% > 50% (prev 0.12%; Δ 0.22% > 0%) |
| Interest Coverage Ratio: -11.84 > 6 (EBITDA TTM -164.9m / Interest Expense TTM -14.0m) |
Altman Z'' -5.65
| A: 0.91 (Total Current Assets 695.8m - Total Current Liabilities 30.5m) / Total Assets 729.9m |
| B: -0.46 (Retained Earnings -337.7m / Total Assets 729.9m) |
| C: -0.26 (EBIT TTM -165.5m / Avg Total Assets 641.2m) |
| D: -7.99 (Book Value of Equity -337.7m / Total Liabilities 42.3m) |
| Altman-Z'' Score: -5.65 = D |
Beneish M 1.00
| DSRI: 1.18 (Receivables 515.0k/137.0k, Revenue 2.17m/684.0k) |
| GMI: 4.82 (GM 20.29% / 97.81%) |
| AQI: 208.4 (AQ_t 0.02 / AQ_t-1 0.00) |
| SGI: 3.18 (Revenue 2.17m / 684.0k) |
| TATA: -0.05 (NI -151.5m - CFO -116.8m) / TA 729.9m) |
| Beneish M-Score: 125.1 (Cap -4..+1) = D |
What is the price of CGON shares?
Over the past week, the price has changed by -3.25%, over one month by +24.75%, over three months by +26.88% and over the past year by +67.70%.
Is CGON a buy, sell or hold?
- StrongBuy: 5
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CGON price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 79.2 | 57.3% |
| Analysts Target Price | 79.2 | 57.3% |
| ValueRay Target Price | 55.5 | 10.3% |
CGON Fundamental Data Overview February 02, 2026
P/B = 6.2541
Revenue TTM = 2.17m USD
EBIT TTM = -165.5m USD
EBITDA TTM = -164.9m USD
Long Term Debt = 3.00m USD (from longTermDebt, last quarter)
Short Term Debt = 912.0k USD (from shortTermDebt, last quarter)
Debt = 7.24m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -37.9m USD (from netDebt column, last quarter)
Enterprise Value = 3.63b USD (4.30b + Debt 7.24m - CCE 680.3m)
Interest Coverage Ratio = -11.84 (Ebit TTM -165.5m / Interest Expense TTM -14.0m)
EV/FCF = -30.97x (Enterprise Value 3.63b / FCF TTM -117.1m)
FCF Yield = -3.23% (FCF TTM -117.1m / Enterprise Value 3.63b)
FCF Margin = -5388 % (FCF TTM -117.1m / Revenue TTM 2.17m)
Net Margin = -6968 % (Net Income TTM -151.5m / Revenue TTM 2.17m)
Gross Margin = 20.29% ((Revenue TTM 2.17m - Cost of Revenue TTM 1.73m) / Revenue TTM)
Gross Margin QoQ = 5.34% (prev none%)
Tobins Q-Ratio = 4.97 (Enterprise Value 3.63b / Total Assets 729.9m)
Interest Expense / Debt = -192.9% (Interest Expense -14.0m / Debt 7.24m)
Taxrate = 21.0% (US default 21%)
NOPAT = -130.7m (EBIT -165.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 22.79 (Total Current Assets 695.8m / Total Current Liabilities 30.5m)
Debt / Equity = 0.01 (Debt 7.24m / totalStockholderEquity, last quarter 687.6m)
Debt / EBITDA = 0.23 (negative EBITDA) (Net Debt -37.9m / EBITDA -164.9m)
Debt / FCF = 0.32 (negative FCF - burning cash) (Net Debt -37.9m / FCF TTM -117.1m)
Total Stockholder Equity = 699.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -23.63% (Net Income -151.5m / Total Assets 729.9m)
RoE = -21.67% (Net Income TTM -151.5m / Total Stockholder Equity 699.0m)
RoCE = -23.57% (EBIT -165.5m / Capital Employed (Equity 699.0m + L.T.Debt 3.00m))
RoIC = -18.68% (negative operating profit) (NOPAT -130.7m / Invested Capital 699.8m)
WACC = 11.64% (E(4.30b)/V(4.31b) * Re(11.66%) + (debt cost/tax rate unavailable))
Discount Rate = 11.66% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 7.31%
Fair Price DCF = unknown (Cash Flow -117.1m)
EPS Correlation: 3.05 | EPS CAGR: 48.42% | SUE: 3.24 | # QB: 1
Revenue Correlation: 48.81 | Revenue CAGR: 743.1% | SUE: 4.0 | # QB: 1
EPS next Quarter (2026-03-31): EPS=-0.63 | Chg30d=+0.012 | Revisions Net=+2 | Analysts=6
EPS next Year (2026-12-31): EPS=-2.53 | Chg30d=+0.016 | Revisions Net=+1 | Growth EPS=-21.7% | Growth Revenue=+808.7%