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CG Oncology Announces Closing of Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares
CGONCG Oncology(CGON) Newsfilter·2024-12-16 21:05

Core Viewpoint - CG Oncology, Inc. has successfully closed a public offering of 9,200,000 shares of common stock, raising gross proceeds of 238.0million,aimedatadvancingitsbladdercancertherapeuticdevelopment[1].CompanyOverview−CGOncologyisalate−stageclinicalbiopharmaceuticalcompanyfocusedondevelopingandcommercializingapotentialbackbonebladder−sparingtherapeuticforbladdercancerpatients[5].OfferingDetails−Thepublicofferingconsistedof9,200,000shares,with8,500,000sharesofferedbyCGOncologyand700,000sharesbyanexistingstockholder,pricedat238.0 million, aimed at advancing its bladder cancer therapeutic development [1]. Company Overview - CG Oncology is a late-stage clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for bladder cancer patients [5]. Offering Details - The public offering consisted of 9,200,000 shares, with 8,500,000 shares offered by CG Oncology and 700,000 shares by an existing stockholder, priced at 28.00 per share [1]. - The underwriters exercised their option to purchase an additional 1,200,000 shares in full [1]. - The gross proceeds from the offering, before deductions, amounted to $238.0 million [1]. Underwriters - The offering was managed by Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, TD Cowen, and Stifel, Nicolaus & Company, Incorporated as joint book-running managers, with LifeSci Capital LLC as the lead manager [2]. Regulatory Compliance - A registration statement for the offering was filed with the Securities and Exchange Commission and declared effective on December 12, 2024 [3]. - A prospectus detailing the terms of the offering is available on the SEC's website [3].