Quarterly ResultMay 8, 2026, 08:47 AM
CG Oncology Q1 Net Loss $60.2M; BLA Submission Expected Q4 2026
AI Summary
CG Oncology reported a net loss of $60.2 million, or $(0.71) per share, for the first quarter of 2026, compared to a net loss of $34.5 million, or $(0.45) per share, in the prior year. The company announced that BLA completion for HR BCG-unresponsive NMIBC is now expected in the fourth quarter of 2026, following discussions with the FDA. CG Oncology also strengthened its executive team with the appointment of Jim DeTore as Chief Financial Officer in April 2026 and holds approximately $1.1 billion in cash, sufficient to fund operations through 2029.
Key Highlights
- Q1 2026 net loss was $60.2 million, or $(0.71) per share.
- Cash, cash equivalents, and marketable securities totaled $1.1 billion as of March 31, 2026.
- BLA completion for HR BCG-unresponsive NMIBC is expected in Q4 2026.
- Jim DeTore was appointed Chief Financial Officer in April 2026.
- Q1 2026 R&D expenses increased to $43.7 million from $27.5 million YoY.
- Q1 2026 G&A expenses rose to $20.8 million from $14.8 million YoY.
- PIVOT-006 Phase 3 topline data anticipated in H1 2026.
- Cash position is sufficient to fund operations through 2029.