Cardiff Oncology, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company announced a net loss of $11.9 million, or $0.25 per share, for the quarter. This loss per share was better than the average analyst estimate of $0.27 per share.
The molecular diagnostic company posted revenue of $165,000 for the third quarter. As of the reporting date, Cardiff Oncology projected that its current cash resources would be sufficient to fund its operations into the first quarter of 2026.
In a business update, the company highlighted the recent publication of positive Phase 2 trial results for onvansertib in second-line KRAS mutant mCRC in the Journal of Clinical Oncology. Additionally, Cardiff Oncology reiterated its expectation for an initial data readout from the first-line RAS-mutated mCRC randomized CRDF-004 trial by the end of 2024.
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