CG Oncology Announces Proposed Public Offering

IRVINE, Calif., Dec. 11, 2024 (GLOBE NEWSWIRE) -- CG Oncology, Inc. (Nasdaq: CGON), a late-stage clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for patients afflicted with bladder cancer, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed underwritten public offering of 7,300,000 shares of its common stock. Additionally, an existing stockholder of CG Oncology intends to offer and sell 700,000 shares of CG Oncology’s common stock in the proposed offering. CG Oncology will not receive proceeds from the sale of the shares by the selling stockholder. Furthermore, CG Oncology intends to grant the underwriters a 30-day option to purchase from CG Oncology up to an additional 1,200,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The public offering price has not yet been determined. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.