CG Oncology, a biopharmaceutical company specializing in bladder cancer treatments, has relocated its corporate headquarters from Irvine, California, to Dallas, Texas. The move, which took effect earlier this year, positions the Nasdaq-traded company at Pegasus Park, a 26-acre campus focused on life sciences, research, and entrepreneurship.
Sarah Connors, the company's vice president of communications and patient advocacy, stated that the relocation offers several advantages, including enhanced access to talent, investors, and strategic partners. Dallas also provides a more central U.S. location, modern infrastructure, and cost efficiencies. The company will be situated closer to major research institutions such as UT Southwestern Medical Center and the University of Texas at Dallas.
"Dallas provides CG Oncology with a strategic home within one of the nation’s fastest-growing life sciences ecosystems," Connors said. "Pegasus Park’s unique combination of research institutions, healthcare innovation, talent and connectivity supports our long-term vision while remaining consistent with our remote-first culture."
The relocation occurs as CG Oncology has experienced significant investor interest, with its market valuation reaching approximately $7 billion and its shares nearly tripling over the past year. The Dallas headquarters will oversee corporate and administrative functions, leadership, business operations, cross-functional collaboration, and company events.
CG Oncology joins a growing list of companies that have moved their headquarters out of California. In recent years, major corporations including Tesla, Oracle, Hewlett Packard Enterprise, Charles Schwab, McKesson, Chevron, SpaceX, and X have also relocated or announced plans to move their corporate bases. Texas, Arizona, and Tennessee have emerged as primary destinations for these corporate departures, with Dallas actively attracting relocations due to its expanding population and reputation as a business-friendly market. Public Storage, Kelly-Moore Paints, and CBRE are among other companies that have recently moved their headquarters to the Dallas area.