Cardiff Oncology Faces License Termination, Going Concern Doubt

Cardiff Oncology, Inc. disclosed that Nerviano Medical Sciences S.r.l. (NMS) terminated the license agreement for onvansertib, the company's lead asset, due to alleged material breaches. Cardiff Oncology has filed a lawsuit against NMS and a motion for preliminary injunction to prevent the termination. The company also reported substantial doubt about its ability to continue as a going concern, with cash, cash equivalents, and short-term investments totaling $34.5 million as of June 30, 2026. For the second quarter of 2026, the net loss was $(9.2) million, and for the first six months, it was $(21.6) million. Post-period, the company completed a Registered Direct Offering, raising $10.1 million in gross proceeds.