Cardiff Oncology posts smaller-than-expected Q3 loss

Overview

• Cardiff Oncology Q3 net loss is smaller-than-expectations, reflecting better operational performance

• Company's Q3 operating expenses decreased due to reduced clinical trial expenses

• Cardiff maintains cash runway into Q1 2027, with $60.6 mln in cash and investments

Result Drivers

• POSITIVE TRIAL DATA - Phase 2 trial of onvansertib shows 19% improvement in ORR for 30mg cohort vs standard care

• TRIAL TOLERABILITY - Onvansertib continues to be well-tolerated with no major toxicities

• COMMERCIAL OPPORTUNITY - Onvansertib positioned to address significant medical need with 150,000 new CRC patients annually in the U.S.

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Cardiff Oncology Inc is $10.00, about 77.6% above its November 5 closing price of $2.24

Press Release: ID:nGNXccQw8D

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)