CRDF - Cardiff Oncology New 52W High following Q4 and FY 2023 Results and Business Update

2024-03-04 10:17:34 ET

DENVER, Colo., Mar 04, 2024 ( 247marketnews.com )- Cardiff Oncology, Inc. (NASDAQ: CRDF ) reported, last week, its fourth quarter and full year 2023 financial results, and provided a business update, which we covered when it was trading at $2.26 in Thursday’s aftermarket.

This morning, Cardiff Oncology hit a new 52-week high of $3.77 and is trading at $3.645, up $0.735 (+25.26%), on 4.8M shares.

Cardiff’s cash and equivalents is $75 million, as of December 31, which, based on its current expectations and projections, provides the Company sufficient funding for its operations into the third quarter of 2025, while the interim topline data from first-line RAS-mutated mCRC trial is expected in mid-2024.

“2024 is a pivotal year for Cardiff Oncology and we are excited for our upcoming randomized data readout from our lead program in first-line mCRC later this year,” said Mark Erlander, Ph.D., Chief Executive Officer of Cardiff Oncology. “The mCRC data we shared in August 2023, and the ONSEMBLE data we are disclosing today, demonstrates onvansertib’s contribution to the standard of care of bevacizumab (bev) and chemotherapy in treating RAS-mutated mCRC. Given there have been no new therapies approved in this large cancer indication in the last 20 years, 2024 marks a critical step in realizing onvansertib’s potential to provide clinical benefit to the large number of newly-diagnosed RAS-mutated mCRC patients, and create value for the stakeholders in our company.”

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