CG Oncology(CGON) - 2024 Q4 - Annual Results

Clinical Trial Results - Cretostimogene monotherapy achieved a 74.5% complete response rate in high-risk BCG-unresponsive NMIBC patients, with 82 out of 110 patients responding[5] - The CORE-008 clinical trial for cretostimogene in high-risk NMIBC has been initiated, with topline data expected in the second half of 2025[4][8] - The company presented new translational data at the EAU Congress, indicating that cretostimogene levels peaked immediately after instillation and were sustained locally for 4-5 days[4] Financial Performance - The net loss attributable to common stockholders for Q4 2024 was $31.8 million, or ($0.46) per share, compared to a net loss of $22.5 million, or ($4.36) per share, in the prior year[10] - The company reported a net loss of $88.0 million for the full year 2024, or ($1.41) per share, compared to a net loss of $67.8 million, or ($15.65) per share, for the full year 2023[16] Expenses - Research and development expenses for Q4 2024 were $26.8 million, compared to$16.3 million in the prior year, with full-year R&D expenses totaling $82.1 million, up from$45.8 million in 2023[10] - General and administrative expenses for Q4 2024 were $11.7 million, compared to$3.0 million in the prior year, with full-year G&A expenses totaling $33.7 million, up from$9.9 million in 2023[10] Funding and Cash Position - The company completed an oversubscribed follow-on public equity offering, raising $238 million, extending its cash runway into the first half of 2028[7][8] - Cash and cash equivalents as of December 31, 2024, were$742.0 million, up from $540.7 million as of September 30, 2024[7] Future Plans - The anticipated initiation of the Biologics License Application (BLA) submission for cretostimogene is expected in the second half of 2025[8]