| Metric | Value ($ M) | Q2 FY25 |
|---|---|---|
| Revenue | 0.10 | 16.7% |
| Total Income | 0.10 | 16.7% |
| Expenditure | 9.72 | 34.8% |
| PBT | — | |
| Net Profit | -9.23 | 33.8% |
| OPM | — | |
| NPM | — | |
| EPS | -0.14 | 33.3% |
Cardiff Oncology Reports Q2 2026 Results and Provides Business Update
12 Aug 2026 · 12 Aug, 1:49 am
Summary
Cardiff Oncology announced its second quarter 2026 results and provided a business update, highlighting progress in its clinical programs and financial position. The company presented positive Phase 2 data for onvansertib in combination therapy, supporting its advancement into a planned registrational trial for first-line RAS-mutated mCRC, with initiation targeted for Q1 2027 pending financing. Financial results showed total operating expenses decreased to $22.6 million for the first six months of 2026 compared to $29.4 million in the prior year. The company ended the quarter with approximately $34.5 million in cash, expected to fund operations into Q3 2027, and recently completed a $10 million offering to bolster its cash runway.
Key Highlights
- 1
Cardiff Oncology reported positive Phase 2 CRDF-004 data supporting the advancement of 30 mg onvansertib plus FOLFIRI/bevacizumab into a planned registrational program for first-line RAS-mutated mCRC.
- 2
The company is aligned with the FDA on key elements of the registrational trial and plans to initiate the study in Q1 2027, subject to securing additional financing.
- 3
A $10 million registered direct offering was completed, extending the company's cash runway.
- 4
The 30 mg onvansertib plus FOLFIRI/bev arm in the Phase 2 trial achieved a confirmed ORR of 72.2% compared to 42.1% for FOLFIRI/bev alone, a 30% ORR improvement over SoC.
- 5
As of June 30, 2026, Cardiff Oncology had approximately $34.5 million in cash, cash equivalents, and short-term investments, sufficient to fund operations into the third quarter of 2027.
- 6
Total operating expenses for the six months ended June 30, 2026, were approximately $22.6 million, a decrease of $6.8 million from the same period in 2025.
Management Comments
Mani Mohindru
The second quarter was an important period of progress for Cardiff, highlighted by the presentation of positive Phase 2 data at ASCO and our continued progress in preparation for a planned registrational trial of onvansertib in first-line RAS-mutated metastatic colorectal cancer. The updated CRDF-004 results reinforced our confidence in the selected registrational dose and regimen of 30 mg onvansertib in combination with FOLFIRI/bevacizumab. This regimen has demonstrated deep and durable tumor shrinkage over time, reflecting the synergistic mechanisms of action, while maintaining a well-tolerated safety profile with no overlapping or new toxicities when added to standard-of-care therapy. Following our successful End-of-Phase 2 meeting with the FDA, we are preparing to initiate the planned Phase 3 trial in the first quarter of 2027, subject to securing additional financing. We believe the totality of data generated to date strengthens onvansertib’s potential to become an important new treatment option for patients with first-line RAS-mutated metastatic colorectal cancer, an area where there remains significant unmet need.
Informational and educational content only. Not investment advice.