CG Oncology's Bladder Cancer Drug Shows Promising Clinical Data, Despite Price Target Cut to $53

CG Oncology's bladder cancer drug, cretostimogene grenadenorepvec, showed strong clinical data with a 75.5% complete response rate in patients with NMIBC and a median duration of response of 28 months. The company plans to complete Phase 3 enrollment for its PIVOT-006 trial in Q3 2025 and initiate a Biologics License Application/BLA submission for cretostimogene in Q4 2025. Despite a price target cut to $53 from $68, analysts maintain an Outperform rating on the shares.

CG Oncology Inc. (NASDAQ: CGON), a late-stage clinical biopharmaceutical company specializing in bladder-sparing therapeutics for patients with bladder cancer, has reported strong clinical data for its lead investigational drug, cretostimogene grenadenorepvec. The drug demonstrated a 75.5% complete response rate in patients with non-muscle-invasive bladder cancer (NMIBC) in the BOND-003 Cohort C trial, with a median duration of response of 28 months and 97.3% of patients free from disease progression to muscle-invasive disease at 24 months [1].

The company plans to complete Phase 3 enrollment for its PIVOT-006 trial in Q3 2025 and initiate a Biologics License Application (BLA) submission for cretostimogene in Q4 2025. Additionally, CG Oncology has recently initiated the CORE-008 Cohort CX trial, which evaluates the combination of cretostimogene and gemcitabine in high-risk NMIBC patients.

Despite a recent reduction in the price target from $68 to $53 by RBC Capital, the firm maintains an Outperform rating on the shares, citing a favorable setup into H2 2025 with topline readouts likely to clear the bar [1].

While CG Oncology's potential as an investment is acknowledged, certain AI stocks are seen as offering greater upside potential with less downside risk. Investors are advised to consider these factors when evaluating CG Oncology's stock.

References:
[1] https://finance.yahoo.com/news/cg-oncology-bladder-cancer-drug-041400699.html