Earnings ·
CG Oncology reports Q3 net loss of $56.9M and appoints Isabel Kalofonos as Chief Commercial Officer
CGONCG Oncology, Inc.
CG Oncology reported a third-quarter net loss of $56.9 million, or $(0.64) per share, compared to a $43.8 million loss in the prior-year period. Research and development expenses rose to $39.2 million from $27.9 million due to increased clinical trial costs and headcount, while general and administrative expenses decreased slightly to $23.0 million. The company ended the quarter with approximately $984.5 million in cash, cash equivalents, and marketable securities, sufficient to fund operations through 2029. Additionally, CG Oncology appointed Isabel Kalofonos as Chief Commercial Officer in October. The company is a late-stage clinical biopharmaceutical firm developing cretostimogene for bladder cancer.