Cardiff Oncology Q2 operating expenses fall on lower R&D costs
CRDF•Cash runway extended after quarter-end financing
After quarter-end, Cardiff completed a $10 million registered direct offering, extending its cash runway.
The company expects current cash resources to fund operations into Q3 2027.
Q2 operating expenses fell on lower R&D spending
Cardiff Oncology said second-quarter operating expenses fell year over year, driven by lower research and development costs.
The company reported a second-quarter loss per share of $0.14, income from operations of -$9.62 million, and operating expenses of $9.72 million.
Lower R&D costs offset higher SG&A and legal expenses
The decrease in operating expenses was primarily due to reduced R&D costs as clinical trials were completed and fewer patients remained on treatment.
SG&A expenses increased mainly because of employee severance agreements, stock option modifications, and higher attorney costs related to an ongoing licensing dispute.
Positive Phase 2 data supports planned registrational program
Cardiff highlighted positive results from a Phase 2 trial of onvansertib in combination with standard-of-care regimens in first-line RAS-mutated metastatic colorectal cancer, supporting advancement to a planned registrational program.
