Leonard E. Post, a director at CG Oncology Inc. (NASDAQ:CGON), reported the sale of company shares valued at $34,541, according to a recent SEC filing. The transactions took place on December 6, 2024, under a pre-established Rule 10b5-1 trading plan. The sale comes as CGON trades at $34.59, within its 52-week range of $25.77 to $50.23, with a market capitalization of $2.27 billion.
Post sold a total of 1,000 shares of common stock. The sales were conducted in two tranches, with prices ranging from $34.3973 to $34.976 per share. Following these transactions, Post no longer holds any shares of the company's common stock directly.
Additionally, Post exercised stock options to acquire 1,000 shares at a price of $0.60 per share, totaling $600. This exercise does not impact his current ownership, as the acquired shares were subsequently sold.
CG Oncology, based in Irvine, California, is engaged in the development of biological products, focusing on innovative cancer therapies.
In other recent news, CG Oncology has been the subject of multiple analyst reports following promising results from their Phase 3 BOND-003 study. The study, focusing on cretostimogene for treating high-risk non-muscle invasive bladder cancer, reported a 74.5% overall complete response rate, with a 12-month landmark complete response rate of 46%. H.C. Wainwright maintained a Buy rating and a $75.00 stock price target for CG Oncology, emphasizing the sustained duration of response and superior safety profile of cretostimogene.
UBS also initiated coverage on CG Oncology with a Buy rating and a $60.00 price target, projecting a peak sales opportunity of $1.9 billion for the drug. Goldman Sachs reiterated its Buy rating on CG Oncology, maintaining a $52.00 price target and emphasizing the potential of cretostimogene.
Roth/MKM issued a Buy rating with a $65.00 price target, citing cretostimogene's potential to capture market share due to its tolerability. The final analysis from CG Oncology's BOND-003 trial is expected by the end of 2024, coinciding with the company's plans for a Biologics License Application submission in 2025. These recent developments underscore the ongoing interest in CG Oncology's work in the oncology space.
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