Analyst Andres Y. Maldonado from H.C. Wainwright maintained a Buy rating on CG Oncology, Inc. (CGON – Research Report) and keeping the price target at $75.00.
Andres Y. Maldonado’s rating is based on the comprehensive analysis of CG Oncology, Inc.’s drug, cretostimogene (creto), which showcased impressive results in the treatment of non-muscle invasive bladder cancer (NMIBC). During the 2024 American Urological Association Annual Meeting, the data presented indicated that cretostimogene had a high complete response (CR) rate at any time point, with a significant portion of patients maintaining the response after 12 months. The drug’s mechanism of action, which involves the transition from innate to adaptive immune response, was confirmed by the conversion of a subset of repeat induction patients to CR. Additionally, when compared to a competing drug, TAR-200, and other treatments in the same space, cretostimogene demonstrated potentially better or comparable CR rates, reinforcing Maldonado’s confidence in the drug’s potential for success in the market.
The distinction between cretostimogene and TAR-200 becomes even clearer when considering the safety profiles of the two treatments. CG Oncology’s drug reported a lower incidence of treatment-related adverse events (TRAEs) and no severe (grade ≥3) TRAEs or deaths, indicating a favorable safety profile that could be decisive for patients and healthcare providers. Moreover, the vast majority of patients were able to complete treatment with cretostimogene, further supporting its tolerability. These aspects, alongside the drug’s efficacy, contribute to Maldonado’s belief in the drug’s blockbuster potential, justifying the Buy rating despite the competitive landscape and the possibility of similar long-term CR rates between the two drugs.
In another report released on May 3, LifeSci Capital also maintained a Buy rating on the stock with a $86.00 price target.
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CG Oncology, Inc. (CGON) Company Description:
Read More on CGON:
- 3 Best Stocks to Buy Now, 5/6/2024, According to Top Analysts
- Cretostimogene Monotherapy Demonstrated 75.2% Complete Response Rate in High-Risk, BCG-Unresponsive Non-Muscle Invasive Bladder Cancer
- CG Oncology to Host Virtual Investor Event on Friday, May 3, 2024
- CG Oncology to Unveil Encouraging Results on Cretostimogene in Combination with Pembrolizumab at ASCO 2024
- CG Oncology to Present Results on Cretostimogene at the AUA 2024 Annual Meeting
