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  • Positive Stock Movement for Cardiff Oncology (CRDF) After Equity Offering

    Positive Stock Movement for Cardiff Oncology (CRDF) After Equity Offering

    Cardiff Oncology, Inc. (NASDAQ: CRDF) stock is rising remarkably on the US stock charts today. As of the latest check, CRDF shares were up 50.31%, trading at $3.67. This outstanding accomplishment comes after important announcements that showcase the business’s clinical and financial developments.

    Strategic Equity Offering

    Cardiff Oncology today revealed that 15,384,619 shares of company ordinary stock will be priced at $2.60 each in a public offering. It is anticipated that this offering, which is fully supported by Cardiff, will bring in about $40 million in gross revenues with the help of both new and current investors with a healthcare emphasis.

    Subject to standard closing conditions, the deal is expected to close on December 11, 2024. Along with other business requirements, CRDF hopes to use these funds to further clinical research, namely for onvansertib in the treatment of first-line RAS-mutated metastatic colorectal cancer (mCRC).

    Release of Positive Clinical Trial Results

    At the same time, Cardiff Oncology reported positive results from CRDF-004, a Phase 2 clinical study that assessed the safety and effectiveness of onvansertib in conjunction with standard-of-care (SoC) therapy for patients with first-line RAS-mutated mCRC. There was a strong effectiveness signal in the study as of the data cut-off date of November 26, 2024.

    Interestingly, individuals who received a 30 mg dosage of onvansertib in addition to SoC had an objective response rate (ORR) of 64%, which was much higher than the 33% ORR of SoC alone.

    While retaining similar safety profiles, the research also showed that individuals receiving a higher dose of onvansertib saw deeper tumor responses than those receiving a 20 mg dose. According to these results, the medication has the potential to change the way that 50,000 new RAS-mutated mCRC patients are treated each year in the US.

    Future Implications and Strategic Direction

    Cardiff Oncology is a formidable competitor in the cancer industry thanks to its recent equity move and encouraging clinical outcomes. With a stronger financial base and strong data proving onvansertib’s effectiveness, CRDF is still dedicated to expanding treatment choices for patients with mCRC and may perhaps establish a new standard for cancer treatment.

  • Cardiff Oncology Sees Surge After Beating Earnings Expectations

    Cardiff Oncology, Inc. (NASDAQ: CRDF) had an eventful trading day, starting with a minor decline of 3.02% before rallying strongly by 33.71% in the afterhours. This sudden turnaround came on the heels of the company’s positive earnings report earlier in the day.

    Earnings Exceed Projections

    The biotech company surpassed analysts’ expectations, reporting a quarterly loss of $0.21 per share, compared to the anticipated loss of $0.26 per share, marking a significant improvement from the previous year’s loss of $0.20 per share.

    It is important to point out that Cardiff Oncology has consistently exceeded earnings estimates, with three out of the last four quarters showing positive surprises.

    Future Prospects

    CEO Mark Erlander expressed confidence in Cardiff Oncology’s future outlook, particularly highlighting the upcoming randomized data readout for first-line RAS-mutated mCRC expected in mid-2024. Recent updates on the ONSEMBLE trial and the initiation of new trials underscore the company’s commitment to advancing cancer treatments.

    Financial Stability

    Despite an increase in operating expenses to $45.9 million for the full year 2023, Cardiff Oncology maintains a strong financial position with approximately $75 million in cash reserves. With a net cash burn of $30.9 million for 2023 and sufficient resources to fund operations into Q3 2025, the company is well-equipped to pursue its strategic goals.

    Conclusion

    Cardiff Oncology’s strong performance in the market, as well as its promising developments in its pipeline positions it as a company worth keeping an eye on. It is very likely to keep this winning streak pushing ahead.

  • Cardiff Oncology Inc. (CRDF) stock Descends Further After Hours. Here’s why?

    On January 18, Cardiff Oncology Inc. (CRDF) announced new data from its lead clinical program in KRAS-mutated metastatic colorectal cancer. While the company was happy with the results, the stock suffered a huge blow in the after-hours.

    During the regular trading session, the stock fluctuated between $6.12 and $6.75. CRDF stock closed the session at $6.14 with a loss of 10.50% at 1.05M shares. Following the announcement, the stock plunged further deep in the after-hours to lose 16.94%. Hence, it was trading at $5.10 apiece in the after-hours session.

    The oncology therapeutics company, Cardiff Oncology Inc. was founded in 1999. Currently, its 41.96 million outstanding shares trade at a market capitalization of $287.87 million.

    CRDF’s Lead Trial

    The company is conducting a Phase 1b/2 trial of onvansertib in combination with standard-of-care (SOC) FOLFIRI and Avastin®. The trial is evaluating the safety and preliminary efficacy of the combination in second-line treatment of KRAS-mutated mCRC patients. Moreover, onvansertib is the CRDF’s first-in-class, third-generation inhibitor, under development with SOC anti-cancer therapeutics. According to the new data from the trial:

    • 34% (12/35) patients at RP2D (recommended phase 2 dose) achieved a complete or partial response (CR: 1 patient, PR: 11 patients).
    • 35% (17/48) patients at all dose levels achieved a CR or PR.
    • 10% (5/48) discontinued the trial for surgical resection or microwave ablation.
    • The median progression-free survival has not been achieved yet.
    • No major or unexpected toxicities related to onvansertib were seen.

    In addition, CRDF will be presenting a subset of the new data at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCOGI). Further, Dr. Heinz-Josef Lenz, the principal investigator will be presenting the poster at ASCOGI Cancers Symposium on January 22, 2022.

    Recent Developments

    On January 11, the company announced the addition of two new members to its management team.

    Firstly. Tod Smeal, Ph.D. was appointed as CRDF’s chief scientific officer. Mr. Smeal has vast experience of over two decades in developing targeted therapies.

    Secondly, Charles Monahan, RPh, was appointed as senior vice president of regulatory affairs of the company. Mr. Monahan also comes with over 20 years of regulatory experience and is a registered pharmacist.

    CRDF’s Q3 Highlights

    In the third quarter of 2021, the company had total operating expenses of $7.1 million approx. Comparatively, the same was $4.5 million in Q3 of 2020.

    Furthermore, CRDF ended the quarter with cash, cash equivalents, and short-term investments of $134 million.

  • Cardiff (NASDAQ: CRDF) Confirms Efficacy Of Onvansertib In Colorectal Cancer

    Cardiff (NASDAQ: CRDF) Confirms Efficacy Of Onvansertib In Colorectal Cancer

    Shares of Cardiff Oncology, Inc. (NASDAQ: CRDF) were traded up 39.59% after it announced that Onvansertib has shown the clinical benefit in colorectal cancer. The company has presented data of Ovansertib at the European Society of Medical Oncology Virtual Congress. Cardiff Oncology is currently engaged in the Phase 1b/2clinical trial of Ovansertib Metastatic KRAS-mutated Colorectal Cancer.

    In the Phase, 1b/2 study the company has checked the safety and preliminary efficacy of onvansertib in combination with FOLFIRI and bevacizumab in second-line KRAS-mutated metastatic colorectal cancer. The Trial volunteers are treated with onvansertib on Days 1-5, and FOLFIRI and bevacizumab on Day 1, of 14-day treatment courses.

    The company has disclosed that it has observed the benefit of treatment and during the treatment, the company saw no progression in the disease. The efficacy data gave the company a green signal to continue the trial.

    Cardiff disclosed that 91% of patients have shown the positive result after receiving the treatment and only one patient progressing in less than six months while on treatment. 5 (45%) patients have attained partial response (PR). 73% of the patients have shown durable responses ranging from 6 to >12 months and 4 patients remain on treatment. Onvansertib in combination with FOLFIRI/bevacizumab is safe and well-tolerated.

    The first two onvansertib dose levels (12 and 15 mg/m2) have got the green signal. Additionally, four patients have received the onvansertib dose level of (18 mg/m2) and two more will be enrolled.

    Cardiff Oncology, Inc. (NASDAQ: CRDF) shares were trading up 339.59% at $8.11 at the time of writing on Thursday. Cardiff Oncology, Inc. (CRDF) share price went from a low point around $0.70 to briefly over $8.29 in the past 52 weeks. It has moved up 1056.92% from its 52-weeks low and moved down -2.17% from its 52-weeks high. Cardiff Oncology, Inc.’s market cap has remained high, hitting $197.48 million at the time of writing.