New York, January 11, 2026, 19:47 ET — The market has closed.
- Shares of CG Oncology jumped 29.3% to close Friday at $54.20 following an acceleration in the timeline of its late-stage trial
- The company is now targeting topline results from Phase 3 PIVOT-006 in the first half of 2026
- Analysts bumped up price targets as investors turn their focus to this week’s JPMorgan Healthcare Conference
CG Oncology shares jumped 29.3% to close at $54.20 on Friday, hitting a session high of $57.40 amid increased interest ahead of a critical bladder-cancer readout. Trading volume came in around 7.0 million shares. 1
This shift is significant since CG Oncology, a clinical-stage biotech, usually sees its stock move in step with trial timelines. Advancing a Phase 3 data readout cuts down the wait—and the uncertainty baked into the stock price.
The company announced Friday it now expects topline data — the initial headline results — from its Phase 3 PIVOT-006 trial in the first half of 2026, shaving nearly a year off the original timeline thanks to faster-than-anticipated enrollment. The study compares adjuvant (post-surgery) intravesical therapy, administered directly into the bladder, against surveillance in over 360 patients with intermediate-risk non-muscle invasive bladder cancer. CEO Arthur Kuan highlighted the push for “a potential indication in adjuvant IR NMIBC, for which there are currently no U.S. FDA approved options.” 2
A regulatory filing revealed the company submitted the update via a Form 8-K and uploaded a refreshed corporate presentation, indicating it plans to share future presentation updates on its website instead of filing new 8-Ks every time. 3
CG Oncology’s investor deck pegged the PIVOT-006 trial at 364 patients, naming recurrence-free survival—the proportion of patients without cancer returning over time—as the key measure. The presentation also highlighted other programs targeting intermediate-risk NMIBC, like TAR-210 and UGN-102. 4
Wall Street reacted fast. Morgan Stanley bumped its price target to $93 from $89 and raised the probability of success for intermediate-risk NMIBC to 70% from 60%, Investing.com reported. Analyst Jeffrey Hung noted the “accelerated timeline signals strong execution and high physician engagement.” Truist also increased its target, moving it to $66 from $62, pointing to “the unprecedented early completion of enrollment,” according to TipRanks. 5
When U.S. markets reopen Monday, traders will be eyeing whether CGON can maintain Friday’s gap-up or give back gains as investors digest the news. The stock’s next moves could depend less on the enrollment milestone itself and more on its broader implications — and what remains uncertain.
But the timeline change doesn’t alter the results. If PIVOT-006 misses its primary target or raises safety concerns, that same rushed schedule fueling optimism could amplify the risks—especially for a single-asset play.
CG Oncology has set a key date this week: Kuan and President and COO Ambaw Bellete are scheduled to present at the JPMorgan Healthcare Conference on January 15 at 11:15 a.m. ET. Investors will be watching closely for new details on endpoints, regulatory strategies, and what the upcoming “topline” data will reveal. 6
