Business
Cardiff Oncology Reports Second Quarter 2023 Results and Provides Business Update
- New lead program in first-line RAS-mutated metastatic colorectal cancer (mCRC) and expanded Pfizer relationship; interim topline data expected in mid-2024 -
About this update from Cardiff Oncology, Inc.
[{"type":"text","content":"- New lead program in first-line RAS-mutated metastatic colorectal cancer (mCRC) and expanded Pfizer relationship; interim topline data expected in mid-2024 -\n- Advance to first-line mCRC follows strong signal from new clinical and preclinical findings and guidance from FDA, and represents an increased market opportunity -\n- Cash, cash equivalents, and short-term investments of approximately $89.4 million as of June 30, 2023, projected runway into 2025 -\nSAN DIEGO, Aug. 9, 2023 /PRNewswire/ -- Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition, a well-validated oncology drug target, to develop novel therapies across a range of cancers, today announced financial results for the second quarter ended June 30, 2023, and provided a business update.\n\n \n \n \n \n \n \n\n \n\"2023 has been transformative for Cardiff Oncology, highlighted by the advancement of our lead program to the first-line mCRC setting and an expansion of our relationship with Pfizer,\" said Mark Erlander, Ph.D., Chief Executive Officer of Cardiff Oncology. \"The shifting of our clinical development program to the first-line was a data-driven decision based on a strong signal from new clinical and preclinical findings, with agreement from the FDA. There are 48,000 new patients in the U.S. annually in the first-line RAS-mutated mCRC setting, with no ongoing clinical trials or new treatments approved in the past 20 years. We believe that there is a tremendous opportunity for onvansertib to provide a meaningful benefit to a substantial number of patients who are fighting cancer in challenging indications. Looking ahead, we anticipate commencing enrollment in our first-line trial this fall with interim topline data expected in mid-2024.\"\nUpcoming expected milestones\nmPDAC data readout from Phase 2 trial expected in Q3 '23SCLC data readout from Phase 2 trial expected in Q3 '23 (investigator-initiated trial with UPMC)First patient dosed in first-line mCRC trial expected fall '23TNBC data readout from Phase 1b/2 trial expected Q4 '23/Q1 '24 (investigator-initiated trial with Dana-Farber Cancer Institute)First-line mCRC randomized data readout expected in mid-2024Company highlights for the quarter ended June 30, 2023 and resent announcements \nAnnounced new lead program in mCRC and expanded Pfizer relationship.C...