2024-01-25 14:20:00 ET
Summary
- With a lead asset in advanced Phase-III testing, CG Oncology, which debuts Thursday on the NASDAQ, is one of the year’s most highly anticipated IPOs.
- The company’s lead drug targets a sizable addressable market (NMIBC) where there is an urgent need for safer, more widely available treatment options.
- The current standard of care treatment, the BCG vaccine, is in short supply and currently being rationed.
- The promising interim Phase-III results make the company a potentially attractive buyout candidate.
( Editor Note : The IPO was actually formally priced at $19/share , as opposed to the $16-$18 indicated range as discussed in the article).
Introduction
CG Oncology, Inc. ( CGON ), which was expected to price on Wednesday the 24th and begin trading the following day, promises to be one of the year's most highly anticipated initial public offerings. The Irving, California company, which was founded in 2010 under the name "Cold Genesys", has a lead investigational drug, cretostimogene grenadenorepvec, in Phase-III testing and has managed to raise a total of $317.57M from private funding rounds , including $105 million from a pre-IPO Series-F crossover round in the midst of what has been a challenging environment for start-up companies seeking to raise venture capital....
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For further details see:
CG Oncology's Lead Bladder Cancer Drug Offers A Strong Potential Revenue Stream With Buyout Optionality