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Tag: NASDAQ: CRDF

  • 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 (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.