CG Oncology's Bladder Cancer Drug Shows Strong Clinical Data, Drives Optimism Despite Price Target Cut

CG Oncology Inc. (NASDAQ:CGON) is one of the best IPO stocks to buy according to Wall Street analysts. Earlier on July 16, RBC Capital lowered the firm’s price target on CG Oncology to $53 from $68, while maintaining an Outperform rating on the shares. RBC sees a favorable setup into H2 2025, with topline readouts in HR NMIBC/Non-Muscle Invasive Bladder Cancer and BCG-naive patients likely to clear the bar.

Later in August, the company also announced its Q2 2025 report. CG Oncology’s lead investigational drug, cretostimogene grenadenorepvec, an oncolytic immunotherapy, showed promising results in clinical trials. The BOND-003 Cohort C trial demonstrated a 75.5% complete response rate in patients with NMIBC. The median duration of response was 28 months, and 97.3% of patients were free from disease progression to muscle-invasive disease at 24 months.

CG Oncology expects to complete Phase 3 enrollment for its PIVOT-006 trial in Q3 2025. It also plans to initiate a Biologics License Application/BLA submission for cretostimogene in Q4 2025. The company recently initiated the CORE-008 Cohort CX trial, which evaluates the combination of cretostimogene and gemcitabine in high-risk NMIBC patients.

CG Oncology Inc. (NASDAQ:CGON) is a late-stage clinical biopharmaceutical company that develops and commercializes backbone bladder-sparing therapeutics for patients with bladder cancer.

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Disclosure: None. This article is originally published at Insider Monkey.