Cardiff Oncology Reports Positive Q3 2024 Results and Clinical Progress

Cardiff Oncology, Inc. ( (CRDF) ) has released its Q3 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, targeting tumor vulnerabilities to overcome treatment resistance. The company is advancing its lead asset, onvansertib, in combination with standard of care therapeutics for various cancers, including metastatic colorectal cancer and breast cancer.

Cardiff Oncology has reported its third-quarter 2024 financial results, highlighting significant progress in its clinical trials. Notably, the company published positive Phase 2 trial results for onvansertib in combination with FOLFIRI and bevacizumab in KRAS-mutant metastatic colorectal cancer (mCRC) patients in the Journal of Clinical Oncology. The trial demonstrated a well-tolerated treatment with substantial clinical benefits in bevacizumab-naïve patients.

Key financial metrics reveal that Cardiff Oncology ended the quarter with $57.7 million in cash and investments, with a net cash usage of $10.5 million for operating activities. The company’s operating expenses increased due to its clinical program developments, yet it maintains a cash runway projected into the first quarter of 2026. Additionally, promising preclinical data for onvansertib in combination with alpelisib in breast cancer was published, showcasing potential in overcoming resistance to existing therapies.

Looking forward, Cardiff Oncology remains optimistic about its ongoing trials and the potential of onvansertib to address unmet needs in cancer treatment. The management anticipates initial data from the first-line RAS-mutated mCRC randomized trial by the end of 2024, which could significantly impact their standing in the oncology market.