Cardiff Oncology, Inc. announced its financial results for the first quarter ended March 31, 2025, on May 8, 2025. As of March 31, 2025, the company reported approximately $79.9 million in cash, cash equivalents, and short-term investments. This cash position is projected to fund operations into the first quarter of 2027.
For the first quarter of 2025, the company reported a net loss of $13.4 million, or $0.20 per share, which fell short of Wall Street expectations of a $0.19 loss per share. Revenue for the period was $109,000. Net cash used in operating activities for the quarter was approximately $12.8 million, an increase of $5.1 million from $7.7 million in the same period of 2024.
Total operating expenses for the quarter were approximately $14.5 million, an increase of $3.4 million from $11.1 million in the prior year, driven by costs associated with the CRDF-004 clinical trial and professional fees. Key business highlights included the successful completion of enrollment in the CRDF-004 trial for first-line RAS-mutated mCRC and the expansion of its intellectual property portfolio with a second patent covering all bevacizumab-naïve mCRC patients.
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