Cardiff Oncology(CRDF) - 2024 Q4 - Annual Results

Clinical Trial Results - Cardiff Oncology reported a 64% objective response rate (ORR) for patients on the 30mg onvansertib dose arm in the CRDF-004 trial, compared to a 33% ORR in the control arm[2] - Cardiff Oncology's clinical trial data indicated that the 30mg dose of onvansertib demonstrated deeper tumor regression compared to the 20mg dose[6] - Onvansertib showed promising results in combination with paclitaxel for HR+ breast cancer, with ongoing clinical trials evaluating its efficacy[12] - The company published clinical data demonstrating that onvansertib combined with FOLFIRI and bev exhibited clinical activity in second-line KRAS mutant mCRC[12] Financial Performance - The company raised $40 million in an oversubscribed underwritten registered direct offering, strengthening its balance sheet[7] - As of December 31, 2024, Cardiff Oncology had approximately$91.7 million in cash and equivalents, projected to fund operations into Q1 2027[10][11] - Total operating expenses for the full year 2024 were approximately $49.3 million, an increase of$3.4 million from $45.9 million in 2023[13] - The net loss for the year ended December 31, 2024, was$45.4 million, compared to a net loss of $41.4 million in 2023[19] Intellectual Property - The company issued a new patent for the use of onvansertib in treating KRAS-mutated mCRC, with an expected expiration date of no earlier than 2043[5][8] Future Plans - The company plans to share additional clinical updates from the CRDF-004 trial in the first half of 2025[3]