Biotech Executive Acquires Hundreds of Millions in Company Shares

On June 25, in an SEC filing, CG Oncology, Inc. (NASDAQ: CGON) disclosed that insider Brian Guan-Chyun Liu purchased approximately 370,000 shares of its common stock in the open market at $66.87 per share, through Seven Fleet Partners LP, for a total of about $24.8 million (approximately KRW 35 billion). These shares are held indirectly in the name of Seven Fleet Partners LP—an investment vehicle he oversees as a managing member of Seven Fleet Advisors LLC—and, following the transaction, his indirect holdings total roughly 1.88 million shares, valued at about $126.1 million (around KRW 180 billion) based on the disclosed price. He has disclaimed beneficial ownership beyond his economic interest.

In a recent announcement, the company stated that President and COO Ambaw Bellete will step down effective June 30 and receive severance. Current CEO Arthur Kuan will assume the additional title of President, and the company is actively recruiting a new Chief Business Officer, according to TipRanks. Separately, on May 19, CG Oncology named the recipient of its non–muscle invasive bladder cancer research fellowship, and on May 28 it unveiled plans to participate in investor conferences scheduled for June.

CG Oncology, headquartered in California, is a late-stage clinical biopharmaceutical company developing bladder-sparing therapies for bladder cancer and is listed on Nasdaq. Its lead pipeline candidate is the oncolytic immunotherapy cretostimogen grenadenorepvec, targeting BCG-unresponsive non–muscle invasive bladder cancer patients, currently in Phase 3 clinical development.