CG Oncology Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

January 30, 2024 at 07:00 AM EST

CG Oncology, Inc. (Nasdaq: CGON), a late-stage clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for patients afflicted with bladder cancer, today announced the closing of its upsized initial public offering of 23,000,000 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase 3,000,000 additional shares, at an initial public offering price of $19.00 per share. All of the shares were offered by CG Oncology. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $437.0 million. CG Oncology’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol “CGON.”

Morgan Stanley, Goldman Sachs & Co. LLC and Cantor acted as joint book-running managers for the offering. LifeSci Capital acted as co-manager for the offering.

Registration statements relating to the offering have been filed with the Securities and Exchange Commission (SEC) and became effective on January 24, 2024. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at Prospectus-ny@ny.email.gs.com; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, NY 10022, or by email at prospectus@cantor.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About CG Oncology

CG Oncology is a late-stage clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for patients afflicted with bladder cancer. CG Oncology sees a world where urologic cancer patients may benefit from its innovative immunotherapies to live with dignity and have an enhanced quality of life.