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Jun 30, 2023
Cardiff Oncology Q2 2023 Earnings Report
Cardiff Oncology reported second quarter 2023 results and provided a business update.
Key Takeaways
Cardiff Oncology reported $89.4 million in cash, cash equivalents, and short-term investments as of June 30, 2023. The company's lead program advanced to the first-line mCRC setting, and its relationship with Pfizer expanded.
Lead program advanced to first-line RAS-mutated metastatic colorectal cancer (mCRC).
Expanded Pfizer relationship.
Interim topline data expected in mid-2024.
Cash, cash equivalents, and short-term investments of approximately $89.4 million as of June 30, 2023, projected runway into 2025.
Forward Guidance
Cardiff Oncology anticipates commencing enrollment in its first-line trial this fall with interim topline data expected in mid-2024.
Positive Outlook
- mPDAC data readout from Phase 2 trial expected in Q3 '23
- SCLC data readout from Phase 2 trial expected in Q3 '23 (investigator-initiated trial with UPMC)
- First patient dosed in first-line mCRC trial expected fall ‘23
- TNBC data readout from Phase 1b/2 trial expected Q4 '23/Q1 '24 (investigator-initiated trial with Dana-Farber Cancer Institute)
- First-line mCRC randomized data readout expected in mid-2024
Challenges Ahead
- clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results
- clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidate
- risks related to business interruptions, including the outbreak of COVID-19 coronavirus, which could seriously harm our financial condition and increase our costs and expenses
Historical Earnings Impact
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Avg. Return Before/After Earnings
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