Cardiff Oncology, Inc. (CRDF) has seen an increase of 20.43% in the aftermarket after announcing new data from phase 1b/2 Trial in KRAS-mutated Metastatic Colorectal Cancer. The last trading session concluded on $7.05 with a decrease of 4.6%.
CRDF announced new data from phase 1b/2 Trial in KRAS-mutated Metastatic Colorectal Cancer
CRDF announced new data from phase 1b/2 Trial in KRAS-mutated Metastatic Colorectal Cancer on 8th September 2021. 8 of 19 (42%) patients who were evaluable for illness response as of the data cut-off were treated per protocol at the recommended Phase 2 dosage (RP2D) of onvansertib 15 mg/m2 (PR). Historically, in a comparable patient group treated with standard of care chemotherapy, objective response rates (ORR) of 5-13 percent have been reported1-4.
Across all dosage levels, 12 of 32 (38%) patients evaluable for the response as of the data cutoff date had a PR. The median progression-free survival (mPFS) among all response-evaluable patients is 9.4 months, although it has yet to be attained in those treated according to protocol at the RP2D. In the past, a comparable patient cohort treated with standard of care chemotherapy was found to have a median PFS of 4.5-5.7 months1-4.
Participation in Upcoming Conferences
CRDF stated on September 7, 2021, that it is going to participate in the upcoming conferences. Cardiff Oncology’s chief executive officer, Mark Erlander, Ph.D., and chief financial officer, James Levine, will present and participate in virtual 1×1 investor meetings at the H.C. Wainwright 23rd Annual Global Investment Conference and the 2021 Cantor Virtual Global Healthcare Conference from September 13 – 15th 2021 and September 27 – 30th 2021 respectively.
CRDF published second quarter 2021 financial results
On 5th August 2021, CRDF announced second-quarter 2021 financial results. Cardiff Oncology has about $140 million in cash, cash equivalents, and short-term investments as of June 30, 2021.
Total operational expenditures for the three months ended June 30, 2021, were about $7.0 million. The research and development costs grew by about $1.6 million to $4.1 million. The rise in R&D costs was largely due to the advancement of the onvansertib clinical and preclinical programs, as well as recruiting fees to fill the key post of chief medical officer.
For the three months ended June 30, 2021, selling, general, and administrative expenditures grew by about $1.1 million to $2.8 million.
In the second quarter of 2021, net cash spent in operating operations was about $4.3 million, which is similar to the $4.3 million used at the same time in 2020.
