BUZZ-CG Oncology rises after brokerage lifts PT ahead of pivotal bladder cancer data
Reuters04-07
BUZZ-<a href="https://laohu8.com/S/CGON">CG Oncology</a> rises after brokerage lifts PT ahead of pivotal bladder cancer data
** Shares of biotech firm CG Oncology CGON.O rise 1% to $67.57 premarket
** Brokerage HC Wainwright raises price target on CGON to $100 from $80; reiterates "Buy"
** Brokerage says CGON’s lead therapy, cretostimogene, is being tested to reduce tumor recurrence in an early-stage form of bladder cancer that frequently returns after surgery
** Says recurrence rather than disease worsening is the main unmet need in this patient group, and that durable control would reduce repeat surgeries
** Brokerage adds late-stage trial needs to show sustained benefit beyond early timepoints to beat historical chemotherapy outcomes
** As of last close, stock up ~12% YTD
(Reporting by Sahil Pandey in Bengaluru)
((Sahil.Pandey@thomsonreuters.com))
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