CG肿瘤公司2025年季度报告

OR 400 Spectrum Center Drive,Suite 2040(Address of principal executive offices) FINANCIAL INFORMATION Condensed Consolidated Statements of Operations and Comprehensive LossCondensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity iSignatures CondensedConsolidated Balance Sheets(In thousands, except share and per share amounts) 3 Cash and cash equivalents at end of periodSupplemental Schedule of Non-cash Investing and Financing Activities: Reclassification of38,413,909redeemable convertible preferred stock to 38,413,909shares of common stock$—$Conversion of deferred offering costs$—$Deferred offering costs, unpaid and accrued$215$ 4The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1. Description of Business and Basis of PresentationDescription of Business approves its product candidate, cretostimogene, and the Company is able to commercialize this product candidate.On January 11, 2024, the Company’s board of directors approved a 1-for-9.535reverse stock split of its issued andoutstanding common stock and stock option awards which was effected on January 16, 2024.All issued and outstanding shares ofcommon stock, stock option awards and per share data have been adjusted in these condensed consolidated financial statements, on On January 29, 2024, the Company completed the closing of its initial public offering (IPO) of23,000,000shares of commonstock, which included the exercise in full by the underwriters of their option to purchase3,000,000additional shares, at a price of $19.00per share. The common stock began trading on the Nasdaq Global Market on January 25, 2024, under the symbol "CGON".The Company received net proceeds of $399.6million, after deducting discounts and commissions and other offering expenses. Inaddition, as a result of its IPO, the Company’s redeemable convertible preferred stock converted into common stock concurrentlywith the IPO. In December 2024, we completed a follow-on offering of8,500,000shares of common stock at a price of $28.00pershare, including the exercise in full by the underwriters of their option to purchase an additional1,200,000shares of common stock.We received net proceeds of $223.1million, after deducting discounts, commissions and other offering expenses. more information on the accounting for the Note.Basis of Presentation assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dateof the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. 5 As of March 31, 2025, the Company had approximately$688.4millionof cash, cash equivalents and marketable securitiesand working capital of approximately$678.6million. The Company has a relatively limited operating history, and the revenue andincome potential of the Company’s business and market are unproven. The Company has experienced net losses and negative cash operations of$29.3million. The Company will continue to incur significant costs and expenses related to its ongoing operationsuntil it successfully develops, obtains regulatory approval, and gains market acceptance of a product candidate and achieves a level of revenues adequate to support the Company’s operations. On March 28, 2025, the Company entered into an Open Market Sale AgreementSM(Jefferies Sales Agreement) with JefferiesLLC, as agent, pursuant to which the Company may offer and sell, from time to time through Jefferies, up to $250million of sharesof the Company’s common stock. As of March 31, 2025,nosales have been made under the Jefferies Sales Agreement. The Company’s significant accounting policies are disclosed in the audited financial statements appearing in its 2024 Annual The Company capitalizes as deferred offering costs all direct and incremental legal, professional, accounting and other third-party fees incurred in connection with the filing of a registration statement on Form S-3. As of March 31, 2025 and December 31,2024, the Company had $0.4million andzero, respectively, in deferred offering costs, of which $0.2million andzerowere inaccrued expenses, respectively. Deferred offering costs are included in Other assets in the Company's condensed consolidatedbalance sheets.Recently Issued Accounting StandardsAccounting standards not listed below were assessed and determined not to be applicable or are expected to have minimalimpact on the Company’s condensed consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03,Comprehensive Income - Expense Disaggregation Disclosures,which will improve the disclosures about a public business entity's expenses and address requests from investors for more detailedinformation about the types of expenses in commonly presented expense captions such as cost of sales, selling, general andadministrative, and research and development. The amendmen