Feb. 27 at 8:33 PM
BofA reiterated
$CGON Buy-
$65, and said, CG's 4Q25 print reiterated timelines for key readouts, with most investor focus on topline data from the phase 3 PIVOT-006 trial of creto in IR NMIBC (1H26e).
$URGN $JNJ $TARA $TYRA IBRX
BofA went on to say:
We think the potential for a broad label across the IR spectrum is a key differentiating factor compared to competitors.
Beyond the IR population, we should see data from a number of NMIBC subgroups, with creto in our mind well-positioned to unlock significant value in each of these (we model ~
$1.5B peak sales in HR BCG-unresponsive, ~
$1.7B in IR).
With runway now into 1H29e, we see the company as well-funded to support clinical studies/commercial infrastructure buildout for creto. We reiterate Buy and
$65 PO and update our model to reflect cash position post ATM and corresponding share count.
