Core Insights - Cardiff Oncology, Inc. reported financial results for Q1 2025, highlighting progress in clinical trials and intellectual property expansion [1][4][6] Financial Performance - As of March 31, 2025, the company had approximately $79.9 million in cash, cash equivalents, and short-term investments [6][9] - Net cash used in operating activities for Q1 2025 was approximately $12.8 million, an increase of about $5.1 million from $7.7 million in Q1 2024 [6][11] - Total operating expenses for the three months ended March 31, 2025, were approximately $14.5 million, up from $11.1 million in the same period in 2024 [11][16] - The net loss attributable to common stockholders for Q1 2025 was $13.4 million, compared to a net loss of $10.0 million in Q1 2024 [16] Clinical Development - The company completed enrollment in the Phase 2 CRDF-004 trial for onvansertib in first-line RAS-mutated metastatic colorectal cancer (mCRC) [2][10] - The trial involved 41 clinical sites in the U.S. and evaluated onvansertib in combination with standard of care therapies [10] - Additional clinical data from the ongoing CRDF-004 trial is expected in the first half of 2025 [3] Intellectual Property - Cardiff Oncology expanded its intellectual property portfolio with the issuance of a second patent covering the treatment of mCRC for bev-naïve patients [5][9] - The new U.S. patent No. 12,263,173 is set to expire no earlier than 2043 and covers the use of onvansertib in combination with bevacizumab across all lines of therapy for mCRC patients [5][9] Future Outlook - The company believes its current cash resources are sufficient to fund operations into Q1 2027 [7][9]
Cardiff Oncology Reports First Quarter 2025 Results and Provides Business Update