Cohort CX Data Impresses at AUA; Supports Ph 3 Development

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Cohort CX Data Impresses at AUA; Supports Ph 3 Development

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May 15, 2026 CG Oncology, Inc. (CGON)

Rating: Cohort CX Data Impresses at AUA; Supports Ph 3OUTPERFORM DevelopmentPrice:

$69.54

12-Month Price Target: CGON reported updated data from Cohort CX of BOND-003, investigating creto

$80.00 + gemcitabine in patients with BCG-exposed/unresponsive NMIBC, at the AUA

Annual Meeting. Overall, 34.5% of patients enrolled were BCG-unresponsive, and

65.6% were BCG-exposed. Among all patients, HG-EFS was 96.0% at 3 months, and

Analysts 89.5% at 6-months, alongside CR rates of 85.7% (24/28) and 92.3% (24/26) in ITT

Robert Driscoll, Ph.D. and efficacy-evaluable patients, respectively. Regarding tolerability, we continue to(415) 274-6863

Robert.Driscoll@wedbush.com see a differentiated profile for creto, even when combined with gemcitabine; no

Geoffrey Von Der Ahe G3+ AEs were observed, consistent with creto’s monotherapy profile. We view this

(628) 223-0517 data, while early, as highly compelling; CGON plans to present durability data from

geoffrey.vonderahe@wedbush.com the cohort later this year. Importantly, these data, noting cross trial comparison

caveats associated with clear differences in enrolled patients, appear to be the

highest CR rate observed in clinic; creto monotherapy demonstrated a 75.5% CR

rate at any time in BOND-003 Cohort C, while TAR-200 demonstrated an 82.4%

CR rate at any time in SunRISE-1 (label, here). Further, given the dwelling nature

of TAR-200, as well as a 13% rate of G3+ AEs, we believe combinations could be

difficult. Beyond compelling combination data, we previously noted in our initiation

report (see, here) significant limitations to BCG use in NMIBC patients; notably,