Just After Encouraging Colorectal Cancer Data, Cardiff Oncology Shares Slump, Read Why - Cardiff Oncology (NASDAQ:CRDF)

Following a strategic review, Cardiff 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.