CG Oncology expands stock sale program to $1.05 billion

CG Oncology filed Amendment No. 2 to its prospectus with the Securities and Exchange Commission on August 6, 2026, updating the terms of an at-the-market stock sale program run through Jefferies LLC. As of the date of the amendment, the company had sold an aggregate of 10,800,525 shares of common stock for gross proceeds of approximately $550.0 million, and it filed the amendment to increase the offering available under the sales agreement by an additional $500.0 million, bringing the total aggregate offering price up to $1,050.0 million.¹

The sales agreement with Jefferies dates to March 28, 2025, and Jefferies will be entitled to a commission of up to 3.0% of the gross proceeds of any shares sold under the sales agreement.¹

On August 5, 2026, the last reported sale price of CG Oncology's common stock on the Nasdaq Global Select Market was $72.42 per share.¹ Using that price as an assumption, the filing illustrates dilution effects. Assuming that an aggregate of 6,904,170 shares are sold at $72.42 per share for aggregate gross proceeds of approximately $500.0 million, and after deducting commissions and estimated offering expenses, new investors would experience immediate dilution of $55.92 per share.¹ CG Oncology's net tangible book value as of March 31, 2026 was approximately $1,080.9 million, or $12.28 per share.¹ After giving effect to the assumed sale, the company's as adjusted net tangible book value would have been approximately $1,565.8 million, or $16.50 per share, an immediate increase of $4.22 per share for existing stockholders.¹

CG Oncology said it intends to use net proceeds from the offering for general corporate purposes, which may include costs tied to research and development of cretostimogene, including seeking regulatory approval and preparing for potential commercialization, along with capital expenditures, general and administrative costs, and working capital.¹

The stock trades on Nasdaq under the symbol "CGON."¹