CGON on Nasdaq
CG Oncology, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-4722.1%Operating margin3
-3985.0%Net margin3
254.7%Revenue growth, 20253
-21.4%Return on equity3
0.00×Debt to equity3
-$132.5MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Commercial And Development Revenue brought in 80% of the revenue CG Oncology, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Commercial And Development Revenue | $0 | $0 | $3.2M |
| License And Collaboration Revenue | $204.0K | $1.1M | $806.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development100¢$116.6M
- Income tax0¢$270.0K
Out of $4.0M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $4.0M | $1.1M | $204.0K |
| Cost of sales | $4.6M | ||
| Research and development | $116.6M | $82.1M | $45.8M |
| General and administrative | $73.5M | $33.7M | $9.9M |
| Total operating costs and expenses | $194.8M | $115.8M | $55.7M |
| Loss from operations | -$190.8M | -$114.7M | -$55.4M |
| Interest income, net | $29.9M | $26.6M | $6.9M |
| Other (expense) income, net | -$152.0K | $3.0K | -$62.0K |
| Total other income, net | $29.8M | $26.6M | $6.8M |
| Net loss and comprehensive loss | -$161.0M | -$88.0M | -$48.6M |
| Deemed dividend on redeemable convertible preferred stock issuances | $0 | $0 | -$410.0K |
| Cumulative redeemable convertible preferred stock dividends | $0 | $0 | -$18.8M |
| Net loss attributable to common stockholders | -$161.0M | -$88.0M | -$67.8M |
| Net loss per share , basic | -$2.08 | -$1.41 | -$15.65 |
| Net loss per share , diluted | -$2.08 | -$1.41 | -$15.65 |
| Weighted average shares of common stock outstanding, basic | 77.3M shares | 62.5M shares | 4.3M shares |
| Weighted average shares of common stock outstanding, diluted | 77.3M shares | 62.5M shares | 4.3M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2025-07-31 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $32.5M | $257.1M | |
| Marketable securities | $709.7M | $484.9M | |
| Inventory | $1.6M | $0 | |
| Accounts receivable, net | $688.0K | $0 | |
| Prepaid expenses and other current assets | $15.1M | $12.2M | |
| Total current assets | $759.5M | $754.2M | |
| Property and equipment, net | $15.6M | $272.0K | |
| Operating lease right-of-use assets | $4.0M | $221.0K | |
| Intangible assets, net | $575.0K | $0 | |
| Goodwill | $10.3M | $10.3M | $0 |
| Other assets | $1.7M | $94.0K | |
| Total assets | $791.6M | $754.8M | |
| Accounts payable | $5.7M | $6.5M | |
| Operating lease liabilities, current portion | $915.0K | $186.0K | |
| Accrued expenses and other current liabilities | $24.2M | $14.7M | |
| Total current liabilities | $30.8M | $21.4M | |
| Long-term debt | $3.0M | $0 | |
| Operating lease liabilities, net of current portion | $3.1M | $52.0K | |
| Deferred tax liability | $307.0K | $0 | |
| Other liabilities | $1.7M | $0 | |
| Total liabilities | $39.0M | $21.4M | |
| Common stock, $0.0001 par value per share; 700,000,000 and 700,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 80,689,128 and 76,154,783 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $8.0K | $8.0K | |
| Additional paid-in capital | $1.1B | $951.4M | |
| Accumulated deficit | -$379.0M | -$218.0M | |
| Total stockholders' equity | $752.6M | $733.4M | |
| Total liabilities and stockholders' equity | $791.6M | $754.8M | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 700.0M shares | 700.0M shares | |
| Common stock, shares issued | 80.7M shares | 76.2M shares | |
| Common Stock, shares outstanding | 80.7M shares | 76.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$161.0M | -$88.0M | -$48.6M |
| Depreciation and amortization | $1.4M | $32.0K | $17.0K |
| Amortization of loan fees | $3.0K | ||
| Final payment amortization and loss on debt extinguishment | $767.0K | ||
| Success fee amortization | $37.0K | ||
| Stock-based compensation expense | $26.7M | $11.4M | $1.5M |
| Accretion of discount on short-term investments | -$1.0M | -$5.0M | -$2.9M |
| Non-cash interest expense (income) | -$768.0K | ||
| Non-cash lease expense | $34.0K | -$22.0K | $12.0K |
| Prepaid expenses and other current assets | -$1.9M | -$5.8M | -$2.7M |
| Accounts receivable, net | -$320.0K | ||
| Inventory | -$444.0K | ||
| Other assets | -$1.6M | -$75.0K | $13.0K |
| Accounts payable | -$1.6M | $3.3M | $2.0M |
| Accrued expenses and other current liabilities | $8.7M | $5.5M | $4.1M |
| Other liabilities | -$487.0K | ||
| Net cash used in operating activities | -$132.3M | -$78.7M | -$45.7M |
| Proceeds from sales and maturities of investments | $844.1M | $745.4M | $396.4M |
| Purchases of investments | -$1.1B | -$1.0B | -$517.6M |
| Acquisition, net of cash acquired | -$22.0M | ||
| Purchases of property and equipment | -$134.0K | -$234.0K | |
| Net cash used in investing activities | -$245.8M | -$300.8M | -$121.2M |
| Proceeds from initial public offering, net of issuance costs | $406.4M | ||
| Proceeds from follow-on public offerings, net of issuance costs | $147.4M | $223.1M | |
| Proceeds from issuance of Series F redeemable convertible preferred stock, net of issuance costs | $104.6M | ||
| Payments of success fee or long-term debt | -$365.0K | -$16.3M | |
| Proceeds from exercise of common stock options | $6.5M | $2.6M | $2.1M |
| Stock issuance costs | -$316.0K | -$3.4M | -$3.4M |
| Net cash provided by financing activities | $153.6M | $628.3M | $87.0M |
| Net (decrease) increase in cash and cash equivalents | -$224.6M | $248.8M | -$79.9M |
| Cash paid for interest | $103.0K | $376.0K | |
| Cash paid for taxes | $16.0K | ||
| Reclassification of 38,413,909 redeemable convertible preferred stock to 38,413,909 shares of common stock | $307.9M | ||
| Conversion of stock issuance costs | $6.8M | ||
| Stock issuance costs, unpaid and accrued | $46.0K | $1.2M | |
| Operating lease right-of-use asset obtained in exchange for lease liabilities | $859.0K | $0 | $221.0K |
| Reclassification of redeemable convertible preferred stock | 38.4M shares | ||
| Reclassification of common stock | 38.4M shares |
Recent filings
- Sep 21, 2026144
- Sep 17, 20264
- Sep 17, 2026144
- Sep 11, 2026144
- Sep 2, 2026144
- Aug 31, 2026144
- Aug 27, 2026144
- Aug 25, 2026144
- Aug 24, 2026144
- Aug 19, 2026144
- Aug 18, 20264
- Aug 17, 2026144
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026144
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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