Cardiff Oncology 2025 Q1 Earnings Misses Targets as Net Loss Widens 34.2%

Cardiff Oncology (CRDF) reported its fiscal 2025 Q1 earnings on May 08th, 2025. Cardiff Oncology's Q1 2025 financial outcomes fell short of market expectations, marked by a 34.2% increase in net loss compared to Q1 2024. Despite narrowing losses per share, the overall earnings highlighted persistent financial challenges. The company maintains its guidance in line with previous projections, anticipating sufficient cash resources to fund operations into Q1 2027.

Revenue

Cardiff Oncology saw a significant decline in total revenue, registering a 46.8% decrease to $109,000 in Q1 2025, down from $205,000 in the same quarter of the previous year.

Earnings/Net Income

Cardiff Oncology reported a narrowing of losses per share, with a decrease from $0.22 in Q1 2024 to $0.20 in Q1 2025, indicating a 9.1% improvement. However, the net loss expanded to $-13.43 million, representing a 34.2% increase from the $-10.01 million loss recorded in Q1 2024. Despite the slight improvement in EPS, overall earnings results were disappointing.

Post Earnings Price Action Review

The strategy of purchasing Cardiff Oncology shares post-revenue increase and holding for 30 days has shown mixed results over the past five years. While brief periods of positive returns were observed, the overall trend remained negative, underperforming the broader market. From May 2020 to May 2025, the strategy yielded a total return of approximately -40%, in contrast to a slight positive return for the NASDAQ Composite Index, indicating struggles to align with the market. Although promising in a few quarters, such as Q2 2020 and Q1 2021, it faltered in others, especially during stable market conditions in Q4 2020 and Q3 2024. The strategy's returns were volatile, influenced by irregular stock price movements tied to clinical trial updates and regulatory developments. Despite the NASDAQ Composite's recovery after a significant decline in early 2020, the strategy failed to consistently generate returns, posing risks for conservative investors.

CEO Commentary

“Our lead program for onvansertib has remained on track in 2025 with the successful completion of enrollment in our trial in first-line RAS-mutated mCRC, underscoring our deep commitment to serving a patient population that has seen no therapeutic advancements in decades,” said Mark Erlander, Chief Executive Officer of Cardiff Oncology. “Furthermore, we expanded our intellectual property portfolio through the issuance of a second patent covering all mCRC, regardless of tumor mutational status, across all lines of therapy. As we continue to generate clinical data and move toward regulatory discussions with the FDA, we remain focused on our mission to deliver a transformative therapy that could redefine the standard of care for RAS-mutated mCRC and for other cancers.”

Guidance

Based on its current expectations and projections, Cardiff Oncology believes its current cash resources of approximately $79.9 million are sufficient to fund operations into Q1 2027. The company anticipates additional clinical data from the ongoing CRDF-004 trial in mCRC to be available in the first half of 2025.

Additional News

Recently, Cardiff Oncology announced the completion of enrollment in its Phase 2 CRDF-004 trial, which is evaluating the efficacy of onvansertib combined with standard care in first-line RAS-mutated metastatic colorectal cancer (mCRC) treatment. Conducted across 41 U.S. clinical sites, the trial design includes three arms and aims to assess objective response rates, progression-free survival, duration of response, and safety. Additionally, Cardiff Oncology secured a new U.S. patent extending through 2043 for the use of onvansertib in treating mCRC patients, further strengthening its intellectual property portfolio. The patent covers all bev-naïve patients, encompassing both RAS-mutated and RAS wild-type mCRC across all therapy lines, highlighting Cardiff Oncology's commitment to advancing innovative cancer therapies.