Blad­der can­cer drug­mak­er CG On­col­o­gy files for IPO as biotech mar­ket shows signs of a re­bound

CG On­col­o­gy, a late-stage Cal­i­for­nia biotech de­vel­op­ing a blad­der can­cer ther­a­py, re­vealed its plans to go pub­lic on the Nas­daq in an SEC fil­ing Tues­day night.

The move marks the first IPO fil­ing of 2024 for the biotech in­dus­try, which had a dis­mal 2023 un­til the last month, when signs of life be­gan to emerge fol­low­ing a se­ries of ac­qui­si­tions and sig­nals from the Fed that there would be in­ter­est rate cuts in 2024, mean­ing more cap­i­tal will like­ly flow in­to drug de­vel­op­ment.

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