Cardiff Oncology Reports Q2 2025 Financial Results with Increased Net Loss and Decreased Revenues

Cardiff Oncology, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $13.9 million, or $0.21 per share, compared to a net loss of $11.8 million, or $0.26 per share, in the same period last year. Total revenues for the quarter were $0.1 million, a decrease from $0.2 million in the prior year, primarily attributed to lower royalty revenues from intellectual property licenses. For the first half of 2025, the company recorded a net loss of $27.4 million, up from $21.8 million in the first half of 2024, with total revenues of $0.2 million compared to $0.4 million in the previous year.

The company’s research and development expenses increased significantly, totaling $11.6 million for the second quarter, up from $9.5 million in the same quarter of 2024. This rise is largely due to costs associated with the ongoing CRDF-004 clinical trial and other clinical programs related to its lead drug candidate, onvansertib. Selling, general, and administrative expenses also saw a slight increase to $3.3 million from $3.2 million year-over-year, driven by higher stock-based compensation and professional fees.

As of June 30, 2025, Cardiff Oncology reported total assets of $75.7 million, a decrease from $97.2 million at the end of 2024. The decline in assets was primarily due to a reduction in cash and cash equivalents, which fell to $10.8 million from $51.5 million at the end of the previous year. The company’s total liabilities increased to $17.1 million from $14.2 million, reflecting higher accounts payable and accrued liabilities. Stockholders’ equity also decreased to $58.6 million from $82.9 million, primarily due to accumulated losses.

In terms of operational developments, Cardiff Oncology continues to advance its clinical programs, particularly focusing on onvansertib, which is being evaluated in various cancer indications, including RAS-mutated metastatic colorectal cancer. The company has recently appointed Roger Sidhu, M.D., as Chief Medical Officer, and has received a second patent for the treatment of metastatic colorectal cancer. Looking ahead, Cardiff Oncology anticipates ongoing losses and will require additional capital to support its clinical trial programs and operations, with expectations that its current cash reserves will sustain operations into early 2027.