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Biotech developing cretostimogene, an oncolytic virus immunotherapy for non-muscle invasive bladder cancer.
Biotech developing cretostimogene, an oncolytic virus immunotherapy for non-muscle invasive bladder cancer.
Has no product to sell yet, so its spending is funded by investors' money, including its 2024 stock-market listing, not by customers. Everything rests on one drug, cretostimogene, a virus engineered to infect and kill bladder tumour cells, and on regulatory approval of it.
Moat: narrow (IP / patents). A differentiated oncolytic-virus mechanism showing strong trial responses in a disease area with limited good options.
Headquarters: Irvine, California, US · Founded: 2019 · Employees: 142
Size CG Oncology (CGON) is a United States Health Care company (Biotechnology) with a market value of $6.74B, the 978th largest of 3,117 United States companies the cockpit tracks. Shares closed at $75.99 on 6 Nov 2026.
Performance Over six months the shares gained 9.2%, against -1.4% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 1,030.3% over the last twelve months (peer median +16.9%); the operating margin is -4,056.2% (peer median -14.1%).
Valuation It trades at 917.8× enterprise value to sales against a peer median of 11.8× (2nd most expensive of 16).
Short interest Short interest is 10.0% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.23M | $4.04M | $1.14M | $204,000 | $191,000 |
| Revenue growth | — | +255% | +458% | +7% | — |
| Gross profit | -$5.81M | -$652,000 | $1.11M | $187,000 | $176,000 |
| EBITDA | -$250M | -$189M | -$115M | -$55.4M | -$35.2M |
| Net income | -$224M | -$161M | -$88.0M | -$48.6M | -$35.4M |
| Free cash flow | -$179M | -$132M | -$78.9M | -$45.7M | -$29.8M |
| Capital expenditure | $876,000 | $134,000 | $234,000 | $0 | $14,000 |
| Total debt | $8.82M | $7.02M | $238,000 | $826,000 | $16.3M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| CG Oncology CGON | $6.74B | +9% | +1,030% | -4,056% | 917.8× | n/a |
| Merck & MRK | $362B | +33% | +5% | 18% | 5.4× | 4.1% |
| ImmunityBio IBRX | $9.15B | +1% | +193% | -152% | 60.5× | n/a |
| Johnson & Johnson JNJ | $665B | +26% | +8% | 26% | 7.0× | 3.5% |
| UroGen Pharma URGN | $1.21B | -16% | +159% | -12% | 5.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CGON | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.1% | -2.8% | highest of 21 |
| 6-month return | +9.2% | -1.4% | 8th highest of 21 |
| Distance from 52-week high | -6.2% | -31.2% | 2nd highest of 21 |
| Revenue growth (TTM) | +1,030.3% | +16.9% | highest of 16 |
| Operating margin | -4,056.2% | -14.1% | 2nd lowest of 16 |
| EV / Sales | 917.8× | 11.8× | 2nd most expensive of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -4,056% | 917.8× | n/a | n/a |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 7.9× | n/a | n/a |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 6.9× | 18.7% | +85.4% |
| Immunovant IMVT | United States | $6.31B | +5% | n/a | n/a | n/a | n/a | n/a |
| Kodiak Sciences KOD | United States | $6.24B | +142% | n/a | n/a | n/a | n/a | n/a |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | 11.8× | 41.8% | +16.6% |
| Scholar Rock SRRK | United States | $5.72B | -3% | n/a | n/a | n/a | n/a | n/a |
| Twist Bioscience TWST | United States | $7.95B | +112% | +19% | -32% | 18.2× | n/a | n/a |
| Hangzhou Tigermed Consulting 3347.HK | Hong Kong | $5.65B | -1% | +22% | 10% | 5.6× | 28.3% | +15.6% |
| Arrowhead Pharmaceuticals ARWR | United States | $8.22B | -20% | +17% | -34% | 11.9× | n/a | n/a |
| Cogent Biosciences COGT | United States | $5.49B | -9% | n/a | n/a | n/a | n/a | n/a |
| Anthem Biosciences ANTHEM.NS | India | $5.46B | +17% | -1% | 35% | 24.9× | 36.7% | +26.2% |
| Chongqing Zhifei Biological Products 300122.SZ | China | $5.35B | -2% | -28% | -210% | 5.4× | -6.4% | -10.0% |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 9.9× | 36.5% | +19.8% |
| Krystal Biotech KRYS | United States | $8.92B | -2% | +26% | 48% | 17.1× | 11.9% | +26.0% |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 1.2× | n/a | n/a |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | n/a | n/a | n/a | n/a |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 17% | 5.7× | n/a | n/a |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -2,059% | 133.6× | n/a | n/a |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | 2,087.9× | n/a | n/a |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -35% | 14.5× | n/a | n/a |