Quarterly ResultMay 8, 2026, 04:22 PM
CG Oncology Raises $391.4M; Net Loss Widens to $60.2M
AI Summary
CG Oncology reported a net loss of $60.2 million for Q1 2026, widening from $34.5 million in Q1 2025, as total revenues increased significantly to $1.08 million from $52 thousand. The company substantially strengthened its liquidity, raising $391.4 million in net proceeds from a public offering, bringing its cash, cash equivalents, and marketable securities to $1.08 billion. Additionally, the company successfully defended against a lawsuit from ANI Pharmaceuticals, Inc. regarding royalty payments for its product candidate, cretostimogene.
Key Highlights
- CG Oncology raised $391.4 million net proceeds from a public offering in Q1 2026.
- Cash, cash equivalents, and marketable securities totaled $1.08 billion as of March 31, 2026.
- Total revenues for Q1 2026 were $1.08 million, up from $52 thousand in Q1 2025.
- Net loss for Q1 2026 widened to $60.2 million from $34.5 million in Q1 2025.
- Net loss per share for Q1 2026 was $(0.71), compared to $(0.45) in Q1 2025.
- Research and development expenses increased to $43.7 million from $27.5 million year-over-year.
- Net cash used in operating activities increased to $56.9 million from $29.3 million.
- The company won summary judgment and a jury verdict in the ANI Pharmaceuticals royalty lawsuit.