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Dec 31, 2022
Cardiff Oncology Q4 2022 Earnings Report
Announced fourth quarter and full year 2022 financial results and provided a business update.
Key Takeaways
Cardiff Oncology reported continued progress in their Phase 1b/2 trial for KRAS-mutated mCRC, demonstrating promising objective response rates and progression-free survival. They strengthened their leadership team and anticipate multiple data readouts from clinical programs and IITs in 2023. The company's strong cash position is expected to fund operations into 2025.
Phase 1b/2 trial in KRAS-mutated metastatic colorectal cancer continues to show lead candidate onvansertib demonstrates an objective response rate, durability and progression-free survival that substantially exceed those seen in historical control trials
Strengthened leadership team with appointments of Fairooz Kabbinavar, MD, FACP, as CMO, Tod Smeal, Ph.D., as CSO and Charles Monahan, R.Ph., as SVP, regulatory affairs
Multiple data readouts expected from clinical programs and IITs in 2023
Strong cash financial position of approximately $105.3 million at December 31, 2022; projected runway into 2025
Forward Guidance
Cardiff Oncology anticipates several milestones in the near term, including data readouts from ongoing clinical trials and continued advancement of their ONSEMBLE Phase 2 trial.
Positive Outlook
- mPDAC data readout from Phase 2 trial expected Q2/Q3 ’23
- SCLC data readout from investigator-initiated (with UPMC) Phase 2 trial expected Q2/Q3 ’23
- TNBC data readout from investigator-initiated (with Dana-Farber Cancer Institute) Phase 1b/2 trial expected Q4 ‘23/Q1 ‘24
- mCRC randomized data readout from Phase 2 ONSEMBLE trial expected Q3/Q4 ‘24
Historical Earnings Impact
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