H.C. Wainwright Reiterates Buy Rating on CG Oncology (CGON)

H.C. Wainwright analyst Andres Maldonado reiterated a Buy rating and $75.00 price target on CG Oncology (NASDAQ: CGON)

The analyst commented: "The upcoming American Urological Association (AUA) 2025 meeting will serve as a key inflection point for CG Oncology, as the company prepares to release final 12-month data from its registrational BOND-003 trial—poised for direct comparison with J&J’s TAR-200 in the treatment of high-risk BCG-unresponsive NMIBC. While both agents have shown promising results, these plenary sessions, can provide much-needed clarity on efficacy durability and safety—critical benchmarks as the field inches toward defining a new standard of care. Cretostimogene enters the ring with a landmark 12-month complete response rate of 46% in a trial population of 110 patients, with encouraging durability out to 24 months (KM estimate: 41%). These figures reflect maturing data and benefit from real-world protocol adherence, with no Grade 3 or higher treatment-related adverse events and zero discontinuations due to toxicity. Meanwhile, TAR-200 boasts a higher estimated 12-month CRR of 57% based on Kaplan-Meier projections, but this number lacks corresponding actual landmark data. Earlier interim analyses suggest the real 12-month CRR may land significantly lower, raising questions about overestimation inherent in KM modeling. However, to a lesser extent we expect comparisons between the two programs to go beyond raw efficacy numbers. As investors are likely to scrutinize tolerability profiles and administration logistics. Creto is administered intravesically in a regimen familiar to urology clinics, while TAR-200’s device-based delivery and cystoscopy-based insertion protocol may limit ease of use. Moreover, safety differences are non-trivial—9% of TAR-200 patients experienced Grade 3+ events, and 6% discontinued due to adverse events, compared to none for cretostimogene. Reiterate Buy and $75 price target."

For an analyst ratings summary and ratings history on CG Oncology click here. For more ratings news on CG Oncology click here.

Shares of CG Oncology closed at $26.42 yesterday.

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