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

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 public offering of 9,200,000 shares of its common stock, 8,500,000 of which were offered by CG Oncology, which includes the exercise in full by the underwriters of their option to purchase 1,200,000 additional shares, and 700,000 of which were offered by an existing stockholder of CG Oncology, each at a public offering price of $28.00 per share. The gross proceeds to CG Oncology from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $238.0 million. CG Oncology did not receive proceeds from the sale of shares of its common stock by the selling stockholder.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, TD Cowen and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers for the offering. LifeSci Capital LLC acted as lead manager for the offering.

A registration statement relating to the offering has been filed with the Securities and Exchange Commission and was declared effective on December 12, 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 relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at [phone], or by email at [e-mail]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at [phone], or by email at [e-mail]; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, by telephone at [phone] or by email at [e-mail]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at [phone] or by email at [e-mail].

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

Contacts

MediaSarah ConnorsVP, Communications and Patient Advocacy(508) [e-mail]

Investor RelationsChau ChengVP, Investor Relations(949) [e-mail]