CG Oncology Reports $1.2 Million Revenue in Q2 2026, Net Loss Increases to $79.1 Million

CG Oncology, Inc. reported its financial results for the second quarter and first half of 2026, revealing a total revenue of $1.2 million for the three months ended June 30, 2026, compared to no revenue in the same period of 2025. For the six months ended June 30, 2026, the company generated $2.2 million in revenue, primarily from commercial and development activities following its acquisition of Biovire, a contract manufacturer. The company’s net loss for the second quarter was $79.1 million, a significant increase from a loss of $41.4 million in the prior year. For the first half of 2026, the net loss reached $139.3 million, compared to $75.9 million in the same period of 2025.

The financial performance reflects a substantial increase in operating costs, which totaled $87.6 million for the second quarter of 2026, up from $48.7 million in the same quarter of 2025. This increase was driven by higher research and development expenses, which rose to $54.7 million from $31.3 million year-over-year, largely due to increased external clinical trial costs and personnel-related expenses. General and administrative expenses also increased to $29.0 million from $17.4 million, attributed to higher compensation costs and other operational expenses.

In terms of strategic developments, CG Oncology completed the acquisition of Biovire in July 2025, which has allowed the company to consolidate its manufacturing capabilities. This acquisition is expected to enhance the company’s ability to produce its investigational oncolytic immunotherapy, cretostimogene grenadenorepvec, which is currently in clinical trials for bladder cancer. The company is actively pursuing regulatory approval for this product, having received both Fast Track and Breakthrough Therapy designations from the FDA.

As of June 30, 2026, CG Oncology reported total assets of $1.1 billion, with cash, cash equivalents, and marketable securities amounting to approximately $1.03 billion. The company’s accumulated deficit has grown to $518.2 million, reflecting its ongoing investment in research and development. Looking ahead, CG Oncology anticipates continued significant expenses as it advances its clinical programs and prepares for potential commercialization of cretostimogene. The company believes its existing cash and marketable securities will be sufficient to fund operations for at least the next twelve months, although it may seek additional funding through equity offerings or collaborations to support its growth strategy.