Cardiff Oncology, Inc. (CRDF) Bundle
An Overview of Cardiff Oncology, Inc. (CRDF)
General Summary of Cardiff Oncology, Inc. (CRDF)
Cardiff Oncology, Inc. (CRDF) is a clinical-stage biotechnology company focused on the development of innovative treatments for cancer. The company was founded in 2007 and is headquartered in San Diego, California. Its lead product candidate, onvansertib, is being developed for various cancer indications, including metastatic pancreatic cancer and triple-negative breast cancer (TNBC).
As of 2024, Cardiff Oncology is primarily engaged in advancing its clinical trials and developing its product pipeline, which includes onvansertib. The company is also involved in licensing agreements for its intellectual property. In the most recent financial reports, total sales from royalty revenues reached $0.5 million for the nine months ended September 30, 2024, compared to $0.3 million for the same period in 2023.
Company's Financial Performance in the Latest Financial Reports
In the latest financial report for the nine months ended September 30, 2024, Cardiff Oncology reported a total revenue of $0.5 million, an increase from $0.3 million in the previous year. The company incurred a net loss of $33.6 million, compared to a net loss of $32.1 million for the same period in 2023.
The breakdown of expenses includes:
| Expense Type | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Research and Development | $27,140 | $25,094 |
| Selling, General and Administrative | $9,471 | $10,318 |
| Total Operating Expenses | $36,611 | $35,412 |
Additionally, the company reported cash and cash equivalents of $57.7 million as of September 30, 2024, indicating sufficient liquidity to support operations into the first quarter of 2026.
Introduction to Cardiff Oncology as a Leader in the Industry
Cardiff Oncology is recognized as a leader in the biotechnology sector, particularly in oncology therapeutics. The company’s commitment to developing innovative cancer treatments positions it favorably within a competitive landscape. As of 2024, Cardiff has made significant strides in its clinical trials, with ongoing studies for onvansertib demonstrating promising results in various cancer types.
Investors and stakeholders are encouraged to explore further details regarding Cardiff Oncology’s operations and growth potential to understand the factors contributing to its success in the industry.
Mission Statement of Cardiff Oncology, Inc. (CRDF)
Mission Statement Overview
Cardiff Oncology, Inc. (CRDF) is dedicated to advancing cancer treatment through innovative therapies. The company's mission statement emphasizes its commitment to developing transformative oncology medicines that improve patient outcomes and quality of life.
Core Component 1: Innovation in Cancer Treatment
Cardiff Oncology focuses on high-quality, innovative therapeutic solutions. The lead drug candidate, onvansertib, is a potent and selective inhibitor of the polo-like kinase 1 (PLK1) protein, which plays a critical role in cancer cell division. This innovative approach has demonstrated promising results in clinical trials.
As of September 30, 2024, Cardiff Oncology reported total revenues of $0.5 million for the nine months ended September 30, 2024, compared to $0.3 million for the same period in 2023. This increase reflects the company's ongoing commitment to innovation and development in the oncology sector.
Core Component 2: Patient-Centric Approach
The company prioritizes patient needs and strives to deliver effective treatments that enhance the quality of life for cancer patients. Cardiff Oncology's clinical trials aim to address unmet medical needs in oncology, particularly in difficult-to-treat cancers.
In a recent Phase 1b/2 trial of onvansertib in combination with paclitaxel for patients with triple-negative breast cancer (TNBC), preliminary data showed a 19% objective response rate (ORR), significantly higher than the historical control rate of 7.7%. This commitment to patient-centric care is a cornerstone of Cardiff's mission statement.
Core Component 3: Commitment to Excellence
Cardiff Oncology is driven by a commitment to excellence in all aspects of its operations, from research and development to clinical execution. This commitment is reflected in the company's financial performance and operational strategies.
For the nine months ended September 30, 2024, the company incurred research and development expenses totaling $27.1 million, indicating a focused investment in developing its drug candidates. Additionally, the company reported cash and cash equivalents of $57.7 million, providing a solid base for continued investment in innovative therapies.
| Financial Metrics | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Revenues | $0.5 million | $0.3 million | +66.67% |
| Net Loss | $(33.6) million | $(32.1) million | +4.65% |
| Research & Development Expenses | $27.1 million | $25.1 million | +7.93% |
| Cash & Cash Equivalents | $57.7 million | $67.0 million (Dec 2023) | -1.95% |
Cardiff Oncology's mission statement encapsulates its dedication to innovation, patient-centricity, and operational excellence, positioning the company as a leader in the oncology therapeutic space.
Vision Statement of Cardiff Oncology, Inc. (CRDF)
Vision Statement Overview
Cardiff Oncology, Inc. (CRDF) aims to deliver innovative therapies to patients with cancer, focusing on unmet medical needs in oncology. Their vision is shaped by a commitment to transforming cancer treatment through precision medicine and targeted therapies.
Innovation in Oncology
Cardiff Oncology's vision emphasizes the importance of innovation in developing new therapeutic options. The company is actively advancing its lead drug candidate, onvansertib, which is currently in various clinical trials aimed at treating different cancer types.
As of September 30, 2024, Cardiff Oncology reported total revenues of $0.5 million for the nine months ended, compared to $0.3 million for the same period in 2023, reflecting growth in their research and development efforts.
Commitment to Patient-Centric Care
Cardiff Oncology prioritizes patient needs in its vision, aiming to provide effective and safe cancer treatments. The development pipeline includes ongoing trials that address significant gaps in treatment options for patients with advanced cancers.
For instance, preliminary data from their Phase 1b/2 trial of onvansertib in combination with paclitaxel indicated a 19% objective response rate compared to a historical control of 7.7%.
Collaboration and Partnerships
The company's vision includes fostering collaborations with leading research institutions and healthcare providers to enhance their clinical programs. Cardiff Oncology has engaged in partnerships to further their research and expedite the development of new therapies.
As of September 30, 2024, Cardiff Oncology had a working capital of $46.8 million, down from $67.0 million as of December 31, 2023, indicating a strategic allocation of resources towards research and clinical trials.
Financial Sustainability
Cardiff Oncology's vision is also focused on ensuring financial sustainability to support its long-term operations and research initiatives. The company raised gross proceeds of $7.0 million from the sale of 2.4 million shares of common stock between October 1, 2024, and November 4, 2024.
Despite ongoing net losses, which were reported at $33.6 million for the nine months ended September 30, 2024, Cardiff Oncology is optimistic about its financial outlook, projecting sufficient capital resources to fund operations into the first quarter of 2026.
| Financial Metrics | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) |
|---|---|---|
| Total Revenues | $0.5 million | $0.3 million |
| Net Loss | $(33.6 million) | $(32.1 million) |
| Working Capital | $46.8 million | $67.0 million |
| Cash and Cash Equivalents | $57.7 million | — |
| Gross Proceeds from Stock Sale | $7.0 million | — |
Focus on Clinical Excellence
Cardiff Oncology's vision also underscores the importance of clinical excellence in its research programs. The company is dedicated to conducting rigorous clinical trials to ensure the efficacy and safety of its drug candidates.
Recent trials, including a Phase 2 trial for small cell lung cancer (SCLC), have shown promising results, with a disease control rate of 57%.
Core Values of Cardiff Oncology, Inc. (CRDF)
Integrity
Cardiff Oncology, Inc. prioritizes integrity in all aspects of its business operations. This core value is crucial for maintaining trust with stakeholders, including investors, patients, and regulatory bodies.
For example, the company adheres to stringent ethical guidelines during its clinical trials, ensuring transparency in reporting results. In its recent Phase 1b/2 trial of onvansertib, Cardiff Oncology has committed to sharing both positive and negative outcomes, demonstrating its dedication to honest communication.
Innovation
Innovation drives Cardiff Oncology's research and development efforts, positioning the company as a leader in oncology therapeutics. The focus on innovative solutions is reflected in the development of onvansertib, which is being explored for multiple cancer indications.
As of September 30, 2024, Cardiff Oncology reported research and development expenses of $27.1 million for the nine months ended, highlighting the company's commitment to advancing its drug pipeline. This investment is crucial as they aim to enhance treatment options for patients with cancer.
Collaboration
Collaboration is a key component of Cardiff Oncology's operational philosophy. The company actively engages with academic institutions and research organizations to enhance its clinical programs.
For instance, the partnership with Dana Farber Cancer Institute for the ongoing clinical trial of onvansertib in combination with paclitaxel showcases Cardiff's collaborative approach. This trial aims to determine the maximum tolerated dose and the recommended phase 2 dose, enhancing the potential for successful outcomes.
Accountability
Accountability ensures that Cardiff Oncology takes responsibility for its actions and decisions, particularly in clinical development and financial management. The company regularly evaluates its performance metrics to ensure alignment with its strategic goals.
For example, Cardiff Oncology reported a net loss of $33.6 million for the nine months ended September 30, 2024, alongside total revenues of $0.5 million, reflecting the financial challenges inherent in drug development. This transparency in financial reporting underscores the company's commitment to accountability.
Patient-Centricity
At the heart of Cardiff Oncology's mission is a commitment to patient-centricity. The company focuses on developing therapies that address unmet medical needs in oncology.
Cardiff's clinical trials are designed not only to assess the efficacy of its drug candidates but also to prioritize patient quality of life and treatment outcomes. The ongoing trials of onvansertib are aimed at providing new treatment options for patients with triple-negative breast cancer, among other indications.
| Core Value | Description | Key Examples | Financial Commitment (2024) |
|---|---|---|---|
| Integrity | Commitment to ethical practices and transparency | Transparent clinical trial reporting | N/A |
| Innovation | Focus on developing new therapeutic solutions | Investment in onvansertib | $27.1 million in R&D expenses |
| Collaboration | Engagement with institutions for enhanced outcomes | Partnership with Dana Farber | N/A |
| Accountability | Responsibility for actions and performance | Regular performance metric evaluations | Net loss of $33.6 million |
| Patient-Centricity | Focus on patient needs and treatment outcomes | Clinical trials designed with patient outcomes in mind | N/A |
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Resources:
- Cardiff Oncology, Inc. (CRDF) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Cardiff Oncology, Inc. (CRDF)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Cardiff Oncology, Inc. (CRDF)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.