Cardiff Oncology, Inc. ( (CRDF) ) has released its Q4 earnings. Here is a breakdown of the information Cardiff Oncology, Inc. presented to its investors.
Cardiff Oncology, Inc. is a clinical-stage biotechnology company focused on developing novel cancer therapies through PLK1 inhibition, with its lead asset, onvansertib, being evaluated in combination with standard cancer treatments.
In its latest earnings report, Cardiff Oncology highlighted significant progress in its clinical trials, particularly in the treatment of RAS-mutated metastatic colorectal cancer (mCRC), and announced a successful $40 million fundraising effort.
Key financial metrics revealed a net loss of $45.4 million for the year 2024, with operating expenses rising to $49.3 million due to increased clinical program costs. The company reported a cash position of $91.7 million, projecting a financial runway into the first quarter of 2027. Notably, the company’s onvansertib trials showed promising efficacy and safety, with a 64% response rate at a higher dose compared to 33% in the control group.
Strategically, Cardiff Oncology secured a new patent for onvansertib’s use in treating KRAS-mutated mCRC, enhancing its intellectual property portfolio. The company also presented promising data on onvansertib’s potential in breast cancer treatments, indicating broader applications for its lead drug candidate.
Looking ahead, Cardiff Oncology remains optimistic about its clinical pipeline, with additional data from its ongoing trials expected in the first half of 2025, aiming to further validate onvansertib’s therapeutic potential across various cancer indications.