Cardiff Oncology First Quarter 2025 Financial Results and Business Update Business Update and Highlights Cardiff Oncology reported significant progress in its lead program for onvansertib, successfully completing enrollment for its Phase 2 CRDF-004 trial in first-line RAS-mutated metastatic colorectal cancer (mCRC) - Successfully completed enrollment in the randomized Phase 2 CRDF-004 trial, which evaluates onvansertib plus standard of care for first-line RAS-mutated mCRC345 - Expanded its intellectual property with a second U.S. patent (No. 12,263,173) for onvansertib, covering its use with bevacizumab in all mCRC patients (both RAS-mutated and wild-type) across any line of therapy, with an expiration date of no earlier than 2043356 - The company expects to report additional clinical data from the ongoing CRDF-004 trial in the first half of 20254 First Quarter 2025 Financial Results For the first quarter of 2025, Cardiff Oncology reported cash, cash equivalents, and short-term investments of $79.9 million, with a projected cash runway into Q1 2027 Liquidity and Cash Flow (Q1 2025) | Metric | Value | Note | | :--- | :--- | :--- | | Cash, Equivalents & Investments | $79.9 million | As of March 31, 2025 | | Projected Cash Runway | Into Q1 2027 | Based on current projections | | Net Cash Used in Operations | $12.8 million | Increase of $5.1M from $7.7M in Q1 2024 | Operating Expenses (Q1 2025 vs Q1 2024) | Period | Total Operating Expenses | Change (YoY) | | :--- | :--- | :--- | | Q1 2025 | $14.5 million | +$3.4 million | | Q1 2024 | $11.1 million | - | - The increase in operating expenses was primarily driven by costs associated with the CRDF-004 clinical trial, other clinical programs, and professional fees for strategic advisory services9 Company Overview and Forward-Looking Statements Cardiff Oncology is a clinical-stage biotechnology company focused on developing cancer therapies by inhibiting PLK1, with its lead asset being onvansertib - Cardiff Oncology is a clinical-stage biotech company leveraging PLK1 inhibition to develop novel therapies for a range of cancers10 - The lead asset, onvansertib, is being evaluated in clinical programs for RAS-mutated mCRC, mPDAC, SCLC, and TNBC10 - The press release contains forward-looking statements subject to risks and uncertainties, including those related to clinical trials, financing, and regulatory approvals, as detailed in the company's SEC filings1112 Financial Statements This section presents the company's financial position and performance, detailing the condensed statements of operations and balance sheets for the first quarter of 2025 Condensed Statements of Operations For the first quarter ended March 31, 2025, Cardiff Oncology reported a net loss of $13.4 million, or ($0.20) per share, compared to a net loss of $10.0 million, or ($0.22) per share, for the same period in 2024 Q1 2025 vs. Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Royalty revenues | $109 | $205 | | Research and development | $10,477 | $8,008 | | Selling, general and administrative | $4,014 | $3,130 | | Total operating expenses | $14,491 | $11,138 | | Loss from operations | ($14,382) | ($10,933) | | Net loss | ($13,434) | ($10,011) | | Net loss per common share | ($0.20) | ($0.22) | Condensed Balance Sheets As of March 31, 2025, the company's total assets were $84.8 million, down from $97.2 million at year-end 2024, primarily due to a decrease in cash and cash equivalents Balance Sheet Highlights (in thousands) | Metric | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $24,095 | $51,470 | | Short-term investments | $55,792 | $40,276 | | Total Assets | $84,807 | $97,190 | | Total Liabilities | $13,931 | $14,241 | | Total Stockholders' Equity | $70,876 | $82,949 |
Cardiff Oncology(CRDF) - 2025 Q1 - Quarterly Results