CG Oncology, Inc. (CGON) Stock Analysis
Healthcare · Biotechnology · NasdaqGS
CG Oncology, Inc. (CGON) posted $4.04M in revenue for fiscal 2025 (up 254.7% year over year), with a net loss of $161.00M, and has compounded revenue about 176.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on CG Oncology, Inc.
CG Oncology, Inc. has grown revenue from $191,000 to $4.04M over the last 4 fiscal years, compounding about 176.6% a year. The most recent year was up 254.7%, so growth is actually accelerating.
Net margin sits at -3985%, up 3744.5 points year over year on a -15% gross margin. It carries about $3.00M of total debt.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from CG Oncology, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
CG Oncology, Inc. revenue & earnings — last 4 fiscal years
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $191,000 | $204,000 | $1.14M | $4.04M |
| Gross profit | — | $204,000 | $1.14M | $-607,000 |
| Net income | $-35.44M | $-48.61M | $-88.04M | $-161.00M |
| Net margin | -18556.5% | -23827.0% | -7729.5% | -3985.0% |
Source: CG Oncology, Inc. SEC filings (10-K).
CG Oncology, Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 27.1% over 3 years (63.5M → 80.7M) — existing holders' stakes are being diluted.
- Debt with negative operating cash flowCarries $3M of debt while last year's operating cash flow was negative ($-132.3M).
- Currently unprofitableThe latest fiscal year was a net loss (net margin -3985.0%).
Explore 4 years of CG Oncology, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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CG Oncology, Inc. financial history by metric
About CG Oncology, Inc.
CG Oncology, Inc., a late-stage clinical biopharmaceutical company, develops and commercializes cretostimogene grenadenorepvec for patients with bladder cancer in the United States. The company's product candidate is cretostimogene, an investigational oncolytic immunotherapy, which is in phase 2 clinical trials of cretostimogene in patients with high-risk NMIBC after BCG failure; a phase 3 clinical trials to evaluate the safety and efficacy of cretostimogene as monotherapy in the treatment of patients who have received adequate BCG therapy with high-risk BCG-unresponsive, CIS-containing NMIBC and BCG-unresponsive Ta, or T1 papillary tumors; phase 3 BOND-003 Cohort C trials as a single agent; phase 3 BOND-003 Cohort P as a single agent in patients with BCG-UR papillary-only NMIBC. It also develops cretostimogene monotherapy for intermediate-risk NMIBC following TURBT, which is in phase 3 PIVOT-006 clinical trials to assess the safety and efficacy of adjuvant cretostimogene; and cretostimogene monotherapy for high-risk NMIBC in phase 2 CORE-008 clinical trials to assess the safety and clinical outcomes of cretostimogene in treating patients with high-risk NMIBC, including BCG-exposed and BCG-naïve NMIBC. The company was formerly known as Cold Genesys, Inc. and changed its name to CG Oncology, Inc. in June 2020. CG Oncology, Inc. was founded in 2010 and is headquartered in Dallas, Texas.
CG Oncology, Inc. — frequently asked questions
What is CG Oncology, Inc.'s revenue?
CG Oncology, Inc. (CGON) reported revenue of $4.04M for fiscal year 2025, up 254.7% from the prior year, according to its SEC filings.
Is CG Oncology, Inc. profitable?
No — CGON reported a net loss of $-161.00M in fiscal 2025.
What is CGON's P/E ratio?
CG Oncology, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is CG Oncology, Inc. growing?
CGON's revenue grew at roughly 176.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does CG Oncology, Inc. have?
As of fiscal year 2025, CGON carried roughly $3.00M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is CG Oncology, Inc.'s gross margin?
CGON's gross margin was -15.0% in fiscal 2025 — gross profit of $-607,000 on revenue of $4.04M.
What is CG Oncology, Inc.'s market cap?
CG Oncology, Inc. (CGON) has a market capitalization of about $5.06B, based on the latest data in our nightly-refreshed cache.
When does CG Oncology, Inc.'s fiscal year end?
CGON's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from CG Oncology, Inc.'s official SEC filings (10-K and 10-Q), covering 4 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.