Cardiff Oncology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:01 pm
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Cardiff Oncology, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 11.15 million compared to USD 10.44 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to USD 0.24 a year ago. Diluted loss per share from continuing operations was USD 0.25 compared to USD 0.24 a year ago.
For the six months, net loss was USD 22.37 million compared to USD 21.44 million a year ago. Basic loss per share from continuing operations was USD 0.5 compared to USD 0.5 a year ago. Diluted loss per share from continuing operations was USD 0.5 compared to USD 0.5 a year ago.
Cardiff Oncology, Inc. is a clinical-stage biotechnology company. It is leveraging PLK1 inhibition, a well-validated oncology drug target, to develop novel therapies across a range of cancers with the unmet medical need. It is focused on clinical programs in indications, such as RAS-mutated metastatic colorectal cancer (mCRC), and in investigator-initiated trials in metastatic pancreatic ductal adenocarcinoma (mPDAC), small cell lung cancer (SCLC), and triple negative breast cancer (TNBC). Its lead drug candidate, Onvansertib, is an oral, small molecule drug candidate that is highly specific for PLK1 inhibition with a 24-hour half-life. It has five ongoing and planned clinical trials of onvansertib: one trial (CRDF-004) in first-line treatment in patients with RAS-mutated mCRC, one trial (CRDF-001) in second-line treatment in patients with mPDAC, and three investigator-initiated trials in first line mPDAC, relapsed SCLC and unresectable locally advanced or metastatic TNBC.