CG Oncology 2025 Q1 Earnings Net Loss Widens Sharply

CG Oncology (CGON) reported its fiscal 2025 Q1 earnings on Aug 08th, 2025. The results fell significantly short of expectations, with total revenue plunging by 90.2% to $52,000 in 2025 Q1 from $529,000 in 2024 Q1. The company also experienced a sharp increase in net loss.

Revenue
CG Oncology’s total revenue for the quarter declined sharply to $52,000, a 90.2% drop compared to $529,000 in the same period last year. The company derived its entire revenue from license and collaboration revenue.

Earnings/Net Income
The company's losses deepened significantly, with a net loss of $-34.45 million in 2025 Q1, a 103.4% increase compared to $-16.93 million in 2024 Q1. On a per-share basis, the loss widened to $0.45 from $0.36. The company has now reported losses for three consecutive years in the corresponding quarter, underscoring the severity of its financial challenges. The results reflect a deteriorating financial position.

Price Action
The stock price of CG Oncology edged up 1.39% during the latest trading day but dropped 5.55% during the most recent full trading week and tumbled 8.10% month-to-date. The post-earnings performance highlights the market's pessimism.

Post-Earnings Price Action Review
A strategy of buying CGON when its revenues beat expectations and holding for 30 days resulted in a -5.68% return, significantly underperforming the benchmark return of 11.27%. The strategy had a maximum drawdown of 0.00%, indicating it avoided losses, but its Sharpe ratio was -0.31 and volatility was high at 67.93%, suggesting significant risk and moderate returns. The poor returns highlight the limitations of this trading approach.

CEO Commentary
Arthur Kuan, Chairman & Chief Executive Officer, emphasized the company’s focus on cretostimogene as a potentially breakthrough therapy for bladder-sparing treatment, building on strong durability and tolerability results from the BOND-003 Cohort C trial. He also noted the favorable jury ruling in the ANI Pharmaceuticals lawsuit, which removes future royalty obligations and allows the company to redirect resources to clinical development.

Guidance
The company expects to submit its Biologics License Application (BLA) for cretostimogene in Q4 2025 for the treatment of HR BCG-unresponsive NMIBC with CIS with or without Ta/T1 disease. It anticipates topline data from multiple clinical trials, including BOND-003 Cohort P and CORE-008 Cohort A, in Q4 2025, and from the combination therapy in the CORE-008 Cohort CX trial in H1 2026. The company also expects cash and marketable securities of $661.1 million as of June 30, 2025, to fund operations through the first half of 2028.

Additional News
Recent developments in the biotechnology sector include a favorable jury ruling in the ANI Pharmaceuticals lawsuit, which eliminates future royalty obligations for CG Oncology. The company is also focusing on cretostimogene as a potentially breakthrough therapy, with anticipated BLA submission in Q4 2025. Additionally, the company expects topline data from multiple clinical trials in the second half of 2025 and into 2026. These updates highlight the company’s ongoing commitment to advancing its pipeline.