Cardiff Oncology, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:02 pm EDT
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Cardiff Oncology, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 9.73 million compared to USD 8.57 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to USD 0.2 a year ago.
For the nine months, net loss was USD 32.1 million compared to USD 30.01 million a year ago. Basic loss per share from continuing operations was USD 0.72 compared to USD 0.69 a year ago.
Cardiff Oncology, Inc. is a clinical-stage biotechnology company. It is leveraging PLK1 inhibition, a well-validated oncology drug target, to develop novel therapies across a range of cancers with the unmet medical need. It is focused on clinical programs in indications, such as RAS-mutated metastatic colorectal cancer (mCRC), and in investigator-initiated trials in metastatic pancreatic ductal adenocarcinoma (mPDAC), small cell lung cancer (SCLC), and triple negative breast cancer (TNBC). Its lead drug candidate, Onvansertib, is an oral, small molecule drug candidate that is highly specific for PLK1 inhibition with a 24-hour half-life. It has five ongoing and planned clinical trials of onvansertib: one trial (CRDF-004) in first-line treatment in patients with RAS-mutated mCRC, one trial (CRDF-001) in second-line treatment in patients with mPDAC, and three investigator-initiated trials in first line mPDAC, relapsed SCLC and unresectable locally advanced or metastatic TNBC.