CG Oncology, Inc., a late-stage clinical biopharmaceutical company, develops and commercializes cretostimogene grenadenorepvec for patients with bladder cancer in the United States.
FAIL · Does not pass the screen
68.35 USD
Screen close, 2026-10-01 · not a live quote Last reviewed 6 days ago
Screened 2026-10-01 · the tape above runs as of 01:04 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 68.35 against the desk's fair-value range, base estimate 90.00, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price68.35 USD
Fair value90.00
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markdown68.35+0.0% to today
2026-08-25Read Accumulation74.85-8.7% to today
2026-07-02Read Markdown59.56+14.8% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
CG Oncology, Inc. holds its Markdown at $68.35. Consolidating, no directional conviction, held for 24 days.
As held on the ledger · 2026-10-01
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 24 days
Price at the screen
$68.35
Valuation
N/A trailing · -22.63 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.24
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.89%
Below 33%
Interest-bearing debt is just 0.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
89.65%
Below 33%
Interest-bearing cash and securities are 89.7% of assets, above the one-third limit.
Fail
Receivables
4.19%
Below 49%
Money owed to the company is 4.2% of assets, under the 49% limit.
Pass
Revenue purity
100.00%
Below 5%
100.0% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
CG Oncology,'s business is fine, but its cash and interest-bearing securities are about 90% of its assets, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-07. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-10-01 screen. The gold marker is the market price at the same screen. A 31.7% margin of safety to the base estimate.
Third-party analyst targets: 13 covering, consensus Strong Buy. The average target sits +32% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-01 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
One Drug Bet On Bladder Cancer Therapy
A patient facing recurring bladder cancer waits for a therapy that might finally work, yet this company is still years from selling anything at all. Revenue is exploding from a tiny base but the business posts no profit and a deeply negative return on equity, so the valuation sits on hope rather than cash flow.
We pass because the opportunity rating is none despite the analyst target near fair value. An unknown moat, zero profit margin and a forward price to earnings ratio that is deeply negative leave too little substance for a durable investment case in a field where most candidates fail.
The real risk is binary clinical or regulatory disappointment that could erase most of the value overnight, with currency and dilution pressures adding to the volatility typical of pre-commercial biotech. Analysis, not advice.
The risks · The things to watch: as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CGON trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$68.35-8.7%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 23% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 100%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it strong buy, with a mean price target of $90. Insiders have been net buyers over the past quarter.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 23% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 100%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it strong buy, with a mean price target of $90. Insiders have been net buyers over the past quarter.
2026-07-24Markdown$71.85+20.6%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 20.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 23% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 100%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it strong buy, with a mean price target of $90. Insiders have been net buyers over the past quarter.
2026-07-18Markdown$59.56+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 23% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 100%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it strong buy, with a mean price target of $90.
2026-07-03Markdown$59.56+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markdown$59.56Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
