05:28 PM EST, 12/16/2024 (MT Newswires) -- CG Oncology ( CGON ) said Monday it closed a $238 million public offering of 9.2 million shares at $28 apiece.

The offering consists of 8.5 million shares sold by the company, inclusive of 1.2 million shares covered by the underwriters' option to purchase additional shares, and 700,000 shares sold by an existing shareholder, according to a statement.

CG Oncology ( CGON ) said it did not receive any proceeds from the sale of shares by the selling stockholder.