Cardiff Oncology 2025 Q3 Earnings Beats Estimates with 5% Net Loss Reduction

Cardiff Oncology (CRDF) reported fiscal 2025 Q3 results on Nov 7, 2025, with key metrics outperforming expectations. The company’s net loss narrowed by 5% year-over-year to $11.26 million, and EPS improved to -$0.17 from -$0.25, surpassing analyst forecasts. Revenue, though down 27.3% to $120,000, exceeded expectations. The firm also provided updated guidance, including a Q1 2026 update on its Phase 2 CRDF-004 trial and a cash runway into Q1 2027.

Revenue

The company’s total revenue for Q3 2025 declined 27.3% to $120,000, compared to $165,000 in the prior-year period. This follows a broader trend of sustained revenue declines, though the company exceeded analysts’ $112,500 forecast. The reduction reflects ongoing operational challenges in its core therapeutic areas.

Earnings/Net Income

Cardiff Oncology narrowed its net loss to $11.26 million in Q3 2025, a 5.0% improvement from $11.86 million in the same period of 2024. The per-share loss improved to -$0.17 from -$0.25, a 32.0% reduction, outperforming the -$0.20 EPS estimate. Despite these improvements, the company has reported losses for 15 consecutive years in this fiscal quarter, underscoring persistent financial challenges.

Post-Earnings Price Action Review

The strategy of buying Cardiff Oncology shares on the date of its revenue raise announcement and holding for 30 days yielded cumulative returns of 25.8%, with an average quarterly return of 8.6%. This outperformed the SPY ETF’s 10.4% return over the same period, highlighting a profitable strategy relative to a passive benchmark

CEO Commentary

Mark Erlander, Ph.D., CEO, emphasized the 19% improvement in confirmed objective response rate (ORR) for onvansertib in RAS-mutated mCRC, noting favorable tolerability. The company anticipates a Q1 2026 update and highlighted the drug’s potential to address a $150,000 annual U.S. CRC patient need. Erlander expressed optimism about onvansertib’s commercial prospects and ongoing clinical advancements.

Guidance

Cardiff Oncology expects to report Phase 2 CRDF-004 trial updates in Q1 2026. With $60.6 million in cash as of September 30, 2025, the company projects a runway into Q1 2027. Q3 2025 operating expenses totaled $12.1 million, down from $12.8 million in 2024, driven by reduced clinical trial and preclinical costs. The firm plans to advance trials in mPDAC, SCLC, and mTNBC while managing cash to fund operations through 2027.

Additional News

Recent developments include positive Phase 2 CRDF-004 trial results, demonstrating onvansertib’s 19% ORR improvement in RAS-mutated mCRC. The company also announced a $60.6 million cash position, extending its operational runway to Q1 2027. Analysts have maintained a “buy” rating, with a median 12-month price target of $10.00, reflecting optimism about onvansertib’s potential.