CG Oncology stock maintains Buy rating at H.C. Wainwright amid Inlexzo pricing insights

Investing.com - H.C. Wainwright has reiterated its Buy rating and $75.00 price target on CG Oncology (NASDAQ:CGON), currently trading at $33.34 with a market capitalization of $2.54 billion, following the recent approval of Inlexzo. Analyst targets range from $40 to $82, suggesting significant upside potential according to InvestingPro data.

Analyst Andres Maldonado addressed client questions about how Inlexzo’s pricing might impact CG Oncology’s cretostimogene (Creto) therapy. While Johnson & Johnson has not officially announced Inlexzo’s list price, third-party sources indicate it’s approximately $69,000 per dose.

This pricing translates to roughly $690,000 for the first year of induction therapy and nearly $966,000 for a complete treatment course including maintenance doses. The pricing decision positions Inlexzo at the top of the oncology pricing spectrum and reframes non-muscle invasive bladder cancer (NMIBC) as a premium therapeutic category.

H.C. Wainwright notes the nearly $1 million per-course cost could limit Inlexzo’s adoption in broader NMIBC patient groups, such as those with intermediate-grade disease or BCG-naïve patients. These patients may continue using cheaper alternatives, including expanded BCG supply expected in 2026.

The firm believes this pricing anchors NMIBC within a high-value reimbursement category while creating challenges for community urology practices to justify such costly treatment options within cost-effectiveness frameworks.

In other recent news, CG Oncology has reported significant developments in its ongoing efforts to treat bladder cancer. The company announced updated data from its Phase 3 BOND-003 Cohort C trial, which revealed a 41.8% complete response rate at 24 months for its bladder cancer drug, cretostimogene. This data, showing that 46 out of 110 patients maintained a complete response, underscores what CG Oncology describes as "best-in-disease durability." Additionally, the company has completed enrollment for its Phase 3 PIVOT-006 clinical trial, which is evaluating cretostimogene as an adjuvant treatment for intermediate-risk non-muscle invasive bladder cancer. The trial, conducted across more than 90 sites, enrolled over 360 patients, concluding nearly a year ahead of schedule. Analyst firms have responded positively to these developments, with Jones Trading initiating coverage with a Buy rating and a price target of $50.00. H.C. Wainwright also reiterated a Buy rating, citing impressive clinical data and setting a price target of $75.00. These ratings reflect confidence in CG Oncology’s potential impact in the field of bladder cancer treatment.

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