Just After Encouraging Colorectal Cancer Data, Cardiff Oncology Shares Slump, Read Why

  • Following a strategic reviewCardiff Oncology Inc CRDF has decided it will not independently fund any future clinical activities in metastatic castrate-resistant prostate cancer (mCRPC), citing clinical data and therapeutic landscape.
  • The company's current cash resources are sufficient to fund its operations into 2025. It ended Q2 with a cash balance of $122 million.
  • The company also announced its plans to conduct a Phase 2 trial of onvansertib in combination with standard-of-care (SoC) FOLFIRI/bevacizumab in second-line RAS-mutated Metastatic Colorectal Cancer (mCRC).
  • Related: Cardiff Oncology Shares Pop After Lead Asset Data In KRAS-Mutated Colorectal Cancer.
  • The trial is expected to start in Q4 2022, with topline data expected in 2H 2024. If optimistic, Cardiff Oncology believes the trial results may position onvansertib for a possible accelerated approval opportunity in second-line KRAS/NRAS-mutated mCRC.
  • Data from the ongoing Phase 1b/2 trial in KRAS-mutated mCRC show durable responses to treatment, with a median duration of response of 11.7 months for all doses and 12.5 months for the recommended phase 2 dose.
  • Initial data in the Phase 2 trial in second-line pancreatic ductal adenocarcinoma show one partial response, three stable disease achieved in 5 evaluable patients treated with onvansertib plus SoC.
  • Price Action: CRDF shares are down 19% at $2.60 during the premarket session on the last check Tuesday.
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