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Friday 6 November 2026
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CG Oncology, Inc.
CGON Healthcare Biotechnology
CG Oncology, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 million, up 254.7% from fiscal 2024.
- Revenue
- −3.72%
- EPS
- −12.3%
- Free cash flow
- −25.2%
- Total debt
- 0.00%
Quarter to September 2026, against a year earlier
76.08
11.28
+17.41%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 0 | 0 | 1 | 4 | 6 | +176.6% | 4 | 84 | 391 | +359.0% | |
| Gross margin, % | — | — | — | — | — | — | 100.00 | 100.00 | 100.00 | (15.02) | 0.00 | (115.0) pt | ||||||
| EBT | — | — | — | — | — | — | (35) | (49) | (88) | (161) | (237) | +65.6% | ||||||
| EBT margin, % | — | — | — | — | — | — | (18,556.54) | (23,826.96) | (7,729.50) | (3,985.02) | (3,851.09) | +14,571.5 pt | ||||||
| Net income | — | — | — | — | — | — | (35) | (49) | (88) | (161) | (237) | +65.6% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 0.05 | 0.05 | 0.02 | 0.05 | 0.07 | +0.8% | |||||
| Earnings | — | — | — | — | — | — | (11.71) | (15.65) | (1.41) | (2.08) | (2.76) | (43.8%) | ||||||
| Cash flow | — | — | — | — | — | — | (7.97) | (10.55) | (1.26) | (1.71) | (2.11) | (40.1%) | ||||||
| Capex | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | (0.02) | (22.8%) | ||||||
| Free cash flow | — | — | — | — | — | — | (7.97) | (10.55) | (1.26) | (1.71) | (2.13) | (40.1%) | ||||||
| Book value | — | — | — | — | — | — | (20.77) | (28.42) | 11.73 | 9.74 | 11.15 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 4 | 4 | 62 | 77 | 85 | +174.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | 0.00 | 0.00 | 1,573.67 | 713.89 | 1,096.55 | 571.9 | ||||||
| P/B | — | — | — | — | — | — | 0.00 | 0.00 | 2.44 | 4.26 | 6.82 | 1.7 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 0.00 | 935.83 | 551.48 | 938.83 | 371.8 | ||||||
| EV/FCF | — | — | — | — | — | — | 0.25 | 0.25 | (13.50) | (18.72) | (30.60) | (7.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | (30) | (46) | (79) | (132) | (187) | +64.4% | |||||
| Capex | — | — | — | — | — | — | 0 | — | 0 | 0 | (2) | +112.3% | ||||||
| Free cash flow | — | — | — | — | — | — | (30) | (46) | (79) | (132) | (189) | +64.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 132 | 180 | 733 | 729 | 961 | +76.8% | |||||
| Net debt | — | — | — | — | — | — | (128) | (188) | (742) | (739) | (981) | +79.4% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | (78) | (123) | 733 | 753 | 991 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | (39.07) | (18.45) | (20.82) | (26.73) | (20.8) pt | |||||
| ROIC | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | (886.69) | (1,740.24) | (886.7) pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 67.53 | (28.85) | (21.67) | (28.29) | (21.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 61 | 61 | 113 | 142 | — | +32.5% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.00 | 0.01 | 0.03 | — | +108.7% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026
CG Oncology, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MIRM Mirum Pharmaceuticals, Inc. | $6.1B | — (loss-making) | — (loss-making) | +39.63% (above 0%: growing) | n/m | −114.22% (below 0%: shrinking) | 81.06% | (32.17%) | Compare |
| LGND Ligand Pharmaceuticals Incorporated | $6.0B | 116× | 88.3× | −31.80% (below 0%: shrinking) | n/m | −268.45% (below 0%: shrinking) | 96.63% | (20.01%) | Compare |
| IMVT Immunovant, Inc. | $5.9B | — (loss-making) | — | — | n/m | −5.96% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| BLTE Belite Bio, Inc. Sponsored ADR | $5.8B | — (loss-making) | — | — | n/m | +64.67% (above 0%: growing) | — | 0.00% | Compare |
| CGON CG Oncology, Inc. | $5.7B | — (loss-making) | — (loss-making) | +2,125.00% (above 0%: growing) | n/m | −67.60% (below 0%: shrinking) | (239.24%) | (7,467.68%) | |
| KOD Kodiak Sciences Inc. | $5.7B | — (loss-making) | — | — | n/m | −33.86% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| SRRK Scholar Rock Holding Corporation | $5.5B | — (loss-making) | — (loss-making) | +605.03% (above 0%: growing) | n/m | +8.88% (above 0%: growing) | 0.00% | 0.00% | Compare |
| PTCT PTC Therapeutics, Inc. | $5.5B | — (loss-making) | 42.2× | +69.57% (above 0%: growing) | n/m | +90.28% (above 0%: growing) | 93.39% | 7.02% | Compare |
| MANE Veradermics Incorporated | $5.4B | — (loss-making) | — | — | n/m | −8.81% (below 0%: shrinking) | — | 0.00% | Compare |
| Median of peers | $5.7B | — | — | +54.60% | — | −7.38% | 40.53% | 0.00% |
Pay and ownership Proxy statement filed 24 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 11.93m | 28.62m | 111.70 |
| 2024 | 11.17m | 23.44m | 77.16 |
Ownership
Directors and executive officers, together
4.80%
Decheng Capital Global Life Sciences Fund IV, L.P.
7.50%
Entities affiliated with Wellington Management Group LLP
6.50%
Entities affiliated with Longitude Venture Partners
5.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
CG Oncology, Inc. (CGON) Latest News
13 Oct
15 May
10 May
8 May
CGON metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Shares outstanding
- Book value per share
- Revenue growth