** Shares of cancer drug developer CG Oncology CGON.O fall 0.5% to $28.72

** CGON late Thursday priced its stock offering of 8 mln shares at $28/shr

** Offering priced at a 3% discount to stock's last close

** Investment firm ORI Capital parted ways with 700,000 shares while CGON sold 7.3 mln shares in the stock offering

** Gross proceeds of roughly $204.4 mln from the offering for CGON, which will use it to fund the development of its experimental immunotherapy

** Morgan Stanley, Goldman Sachs, TD Cowen and Stifel were the joint book-running managers for the offering

** CGON went public in New York in January after raising $380 mln in its IPO at $19 offer price

** As of last close, CGON shares up 52% since debut on Jan. 25

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))