Cardiff Oncology Inc

Cardiff Oncology reported a narrower second-quarter net loss of $9.24 million, down 34% from $13.95 million a year earlier, driven by lower operating expenses. Total operating expenses fell to $9.72 million from $14.89 million, primarily due to a $5.67 million decrease in R&D expenses following the completion of clinical trials and reduced preclinical activity. The company plans to initiate a Phase 3 trial of its lead candidate onvansertib in first-line RAS-mutated metastatic colorectal cancer in the first quarter of 2027, subject to securing additional financing. Cardiff ended the quarter with $34.52 million in cash, cash equivalents and short-term investments, which it believes will fund operations through the third quarter of 2027. The company also disclosed an ongoing license dispute with Nerviano Medical Sciences and a $10 million registered direct offering completed in July.

Cardiff Oncology reported positive Phase 2 data for its lead drug onvansertib in first-line RAS-mutated metastatic colorectal cancer, while facing a licensing dispute with Nerviano Medical Sciences. The 30 mg onvansertib plus FOLFIRI/bevacizumab regimen achieved a 72.2% confirmed objective response rate versus 42.1% for standard therapy alone, with longer progression-free survival and no increased safety concerns. The company finalized the design of a registrational Phase 3 study following FDA discussions. Lucid Capital analyst Christopher Liu lowered the price target to $4 from $10 but kept a Buy rating, citing legal uncertainty over onvansertib ownership rights, though the firm expects a near-term resolution and sees future clinical data as a potential catalyst.