Drop of clear blue liquid from droper droping to test tube in laboratory with bright color blur background.
Our Work

Latham & Watkins Advises CG Oncology on Initial Public Offering

January 25, 2024
Firm advises on first biotech IPO of 2024.

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, has announced the pricing of its upsized initial public offering of 20,000,000 shares of its common stock at an initial public offering price of US$19.00 per share. All of the shares are being offered by CG Oncology. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be US$380 million. CG Oncology’s common stock is expected to begin trading on the Nasdaq Global Select Market on January 25, 2024, under the ticker symbol “CGON.” The offering is expected to close on January 29, 2024, subject to the satisfaction of customary closing conditions. In addition, CG Oncology has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Latham & Watkins advised CG Oncology in the offering with a capital markets team led by San Diego partners Matt Bush and Cheston Larson, and counsel Anthony Gostanian, with associates Julian Brody and Madeleine West.