CG Oncology Shares Rise 7% After Reporting Higher Q3 Revenue

(RTTNews) - CG Oncology, Inc. (CGON) shares climbed 6.78 percent to $40.31 on Friday after the company reported increased revenue for the third quarter, even as losses widened year over year.

The company posted a net loss of $43.8 million, or $0.57 per share, compared to a net loss of $20.4 million, or $0.30 per share, in the same quarter last year. Total revenue rose sharply to $1.67 million, up from $43,000 a year ago, driven by commercial and development revenue and higher license and collaboration revenue.

CG Oncology opened at $38.00 and has traded between $37.28 and $41.50 so far today on the Nasdaq. The stock's 52-week range stands between $14.80 and $45.56. Trading volume reached 0.49 million shares, compared with an average of 0.96 million.