CG Oncology's (CGON) target to complete a biologics license application for cretostimogene monotherapy, or creto, in Q4 will provide investors with comfort, RBC Capital Markets said in a Friday note.

Cretostimogene monotherapy is currently being evaluated as a treatment for high-risk non-muscle invasive bladder cancer, according to the note.

The firm said that while the application completion target is later than hoped, the added clarity puts an end date on the submission, assuaging manufacturing concerns.

RBC said that considering favorable regulatory designations, the therapy could receive approval toward H2 of 2027.

RBC said that a readout for the PIVOT-006 trial is on track for H1 of 2026, with the drug expected to meet its endpoints and drive an about 15% jump in stock movement as a base case.

The firm has an outperform speculative risk rating on the stock and increased its price target to $81 from $79.

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