CG Oncology (CGON) has upsized its proposed initial public offering to $201M from $100M.
In its latest filing, the drug developer said it was now looking to offer 11.8M shares priced between $16 and $18, which would raise around $201 if priced at the midpoint. Underwriters were granted a 30-day option to buy up to 1.8M additional shares to cover any overallotments.
Earlier this month, CG Oncology indicated in a filing that it was seeking to raise around $100M, a number that was likely a placeholder.
CG Oncology hopes to list its shares on Nasdaq under the symbol CGON. Underwriters include Morgan Stanley, Goldman Sachs, Cantor and LifeSci Capital.
Based in California, CG Oncology has been developing a bladder-sparing therapy for patients with bladder cancer. The company’s lead drug candidate, cretostimogene, is in Phase 3 testing.