Cardiff reveals promising Phase 2 results for colorectal cancer drug, $40M offering

Cardiff Oncology recently secured an impressive $40 million from an oversubscribed public offering, following the release of encouraging results from a mid-stage clinical trial. This trial is focused on evaluating the efficacy of onvansertib in combination with standard treatment for patients suffering from RAS-mutated metastatic colorectal cancer.

The Phase 2 trial revealed significant findings: patients administered with a 30 mg dose of onvansertib in conjunction with standard care exhibited an objective response rate (ORR) of 64%. This is notably higher than the 33% ORR observed in the group receiving only standard care. Additionally, patients who received a 20 mg dose demonstrated a 50% ORR.

The study involved 30 participants, who were randomly assigned to one of three groups: those receiving 20 mg of onvansertib plus standard care, those receiving 30 mg of onvansertib plus standard care, and those receiving only standard care. The primary focus of this trial was to assess the objective response rate, while secondary objectives included evaluating progression-free survival, the duration of response, and safety.

Dr. Fairooz Kabbinavar, Chief Medical Officer at Cardiff Oncology, highlighted the promising results indicating a more profound tumor response in patients treated with the 30 mg dose of onvansertib compared to those given the 20 mg dose. Importantly, both dosages exhibited similar safety profiles, suggesting that the higher dose does not introduce additional safety concerns.

Following the announcement of these positive trial outcomes, Cardiff’s stock, listed under the ticker symbol CRDF, experienced a dramatic increase of approximately 50%, reaching a trading price of around $3.70. The company reported that no significant or unforeseen toxicities were identified in patients receiving either dose of the onvansertib combination therapy. Cardiff is planning to release more detailed data from this trial in the first half of the coming year.

The funds raised through the public offering are earmarked to support the clinical development costs associated with the onvansertib treatment for colorectal cancer. Additionally, the capital will be used for general corporate purposes and to bolster the company’s working capital. These strategic financial allocations aim to enhance Cardiff Oncology’s ability to advance its clinical programs and support its ongoing research endeavors.

Cardiff Oncology's advancement in this trial represents a significant step forward in the treatment of RAS-mutated metastatic colorectal cancer, providing hope for improved outcomes for patients affected by this challenging condition. The company's commitment to rigorous clinical research underscores its dedication to developing innovative cancer therapies. The next phase of data release is highly anticipated, as it will provide further insights into the efficacy and safety of onvansertib, shaping future treatment protocols and potentially offering new avenues for tackling this aggressive form of cancer.