Cardiff Oncology, Inc. reported financial results for the third quarter ended September 30, 2026, and provided an update on its clinical development of onvansertib. As of September 30, 2026, the company held approximately $33.8 million in cash, cash equivalents, and short-term investments. Based on current projections, the company believes its cash resources are sufficient to fund operations through the end of the third quarter of 2027.
For the nine months ended September 30, 2026, total operating expenses were approximately $32.0 million, a decrease of $9.5 million compared to the same period in 2025. This reduction was primarily driven by a $12.5 million decrease in research and development expenses, attributed to the completion of clinical trials and a reduction in preclinical activities. However, selling, general, and administrative expenses increased by $3.1 million, largely due to legal and professional fees related to a dispute with a licensor that was resolved in September 2026, as well as employee severance costs.
Cardiff Oncology is conducting a randomized Phase 2 trial evaluating onvansertib in combination with FOLFIRI/bevacizumab or FOLFOX/bevacizumab as first-line therapy for patients with RAS-mutated metastatic colorectal cancer (mCRC). As of September 28, 2026, the median progression-free survival (PFS) has not been reached in the 30 mg onvansertib arm. In comparison, the median PFS in the combined standard-of-care arms reached approximately 11 months. All patients remaining in the 30 mg onvansertib arm have been on treatment for at least 21 months, with the longest duration exceeding 29 months. The company stated it is preparing for a registrational Phase 3 trial in first-line RAS-mutated mCRC, with a potential start date in the first quarter of 2027.
Other corporate updates include the appointment of Leila Alland, MD, as interim Chief Medical Officer in October. Additionally, the company completed a $10 million registered direct offering in July 2026 and resolved all outstanding disputes regarding global rights to onvansertib with its licensor, Nerviano Medical Sciences S.r.l., in September 2026.
