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Dec 31, 2020
Cardiff Oncology Q4 2020 Earnings Report
Cardiff Oncology reported fourth quarter results, highlighted by clinical milestones and a successful capital raise.
Key Takeaways
Cardiff Oncology announced positive results for Q4 2020, marked by key clinical milestones and a successful $100 million capital raise. The company is advancing its clinical programs, particularly in KRAS-mutated cancers, and expanding its pipeline.
Raised approximately $100 million in gross proceeds through a common stock offering.
Completed enrollment in the Phase 1b portion of the KRAS-mutated metastatic colorectal cancer (mCRC) trial and initiated Phase 2 segment.
Identified a biomarker associated with onvansertib-abiraterone synergy in metastatic castrate-resistant prostate cancer (mCRPC).
Presented data at ASH demonstrating the safety and anti-leukemic activity of onvansertib in relapsed/refractory AML.
Forward Guidance
Cardiff Oncology is poised for a steady cadence of catalysts throughout 2021 and beyond as it continues to advance onvansertib's development across multiple clinical programs.
Positive Outlook
- Advancing clinical development programs for onvansertib.
- Initiating a Phase 2 trial in pancreatic ductal adenocarcinoma (PDAC) in the first half of the year.
- Demonstrating broad applicability of onvansertib across KRAS-mutated cancers.
- Achieving a steady cadence of catalysts throughout 2021 and beyond.
- Optimized dosing schedule of cohort C shows a greater than two-fold improvement in disease control rate compared to cohorts A and B
Challenges Ahead
- Clinical trials involve a lengthy and expensive process with an uncertain outcome.
- Clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks.
- Dependence on key personnel.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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