Open OfferAug 6, 2026, 08:33 AM
CG Oncology Increases ATM Program by $500M; Reports Q2 Results
AI Summary
CG Oncology filed an amendment to its prospectus to increase the shares available for sale under its Open Market Sale Agreement by an additional $500.0 million. The company also reported its second quarter 2026 financial results, with a net loss of $79.1 million, compared to $41.4 million in the prior year. R&D expenses rose to $54.7 million, and G&A expenses increased to $29.0 million. CG Oncology highlighted significant progress in clinical trials, including anticipated topline data for PIVOT-006 and expected BLA completion for HR BCG-unresponsive NMIBC in Q4 2026, and noted a cash position of $1.0 billion, sufficient to fund operations through 2029.
Key Highlights
- Increased shares available for sale under Open Market Sale Agreement by an additional $500.0 million.
- Cash, cash equivalents, and marketable securities totaled $1.0 billion as of June 30, 2026, sufficient to fund operations through 2029.
- Reported a net loss of $79.1 million, or $(0.90) per share, for Q2 2026, compared to $41.4 million, or $(0.54) per share, for Q2 2025.
- Research and Development (R&D) expenses increased to $54.7 million for Q2 2026 from $31.3 million in Q2 2025.
- General and Administrative (G&A) expenses rose to $29.0 million for Q2 2026 from $17.4 million in Q2 2025.
- PIVOT-006 Phase 3 topline data for cretostimogene monotherapy anticipated in the near-term.
- BLA completion for HR BCG-unresponsive NMIBC expected in the fourth quarter of 2026.
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