Cardiff Oncology Shares Slump on Plan to Drop Prostate Cancer Funding

 

• Following a strategic review, Cardiff Oncology Inc 
  CRDF-41.1%+ Free Alerts
   has decided it will not independently fund any future clinical activities in metastatic castrate-resistant prostate cancer (mCRPC), citing clinical data and therapeutic landscape.
• The company's current cash resources are sufficient to fund its operations into 2025. It ended Q2 with a cash balance of $122 million.
• The company also announced its plans to conduct a Phase 2 trial of onvansertib in combination with standard-of-care (SoC) FOLFIRI/bevacizumab in second-line RAS-mutated Metastatic Colorectal Cancer (mCRC).
• The trial is expected to start in Q4 2022, with topline data expected in 2H 2024. If optimistic, Cardiff Oncology believes the trial results may position onvansertib for a possible accelerated approval opportunity in second-line KRAS/NRAS-mutated mCRC.
• Data from the ongoing Phase 1b/2 trial in KRAS-mutated mCRC show durable responses to treatment, with a median duration of response of 11.7 months for all doses and 12.5 months for the recommended phase 2 dose.
• Initial data in the Phase 2 trial in second-line pancreatic ductal adenocarcinoma show one partial response, three stable disease achieved in 5 evaluable patients treated with onvansertib plus SoC.

https://www.benzinga.com/general/biotech/22/09/28844664/just-after-encouraging-colorectal-cancer-data-cardiff-oncology-shares-slump-read-why