The EPS miss and dilutive $10M offering are near-term negatives, but the positive Phase 2 data and FDA alignment for a registrational trial provide a catalyst for 2027. Monitor the NMS licensing dispute outcome and any additional financing needs; the stock may remain volatile as the company balances clinical progress with financial overhang.
Price Chart
Executive Summary
Cardiff Oncology reported Q2 2026 EPS of -$0.18, missing consensus of -$0.16 by 12.5%, with revenue of $104K (below $63K estimate). The company highlighted positive Phase 2 data for onvansertib in RAS-mutated mCRC and FDA alignment on a registrational trial, but faces a licensing dispute with NMS and completed a $10M dilutive offering post-quarter. Cash runway extends into Q3 2027, but the EPS miss and ongoing litigation weigh on the outlook.
Key Financial Metrics
Key Facts
- Q2 2026 EPS -$0.18 vs consensus -$0.16 (-12.5% miss)
- Revenue $104K vs $63K estimate, but royalty revenue declined YoY from $121K
- Cash, equivalents, and short-term investments $34.5M as of June 30, 2026
- Completed $10M registered direct offering in July 2026, diluting existing shareholders
- Positive Phase 2 CRDF-004 data at ASCO: 30 mg onvansertib + FOLFIRI/bev showed 72.2% ORR vs 42.1% for SoC alone
- FDA End-of-Phase 2 meeting successful; Phase 3 trial planned for Q1 2027, subject to financing
- Licensing dispute with Nerviano Medical Sciences (NMS) ongoing; company filed lawsuit in May 2026
- Net cash used in operations for H1 2026 was $24.1M, up from $21.1M in H1 2025
- Operating expenses decreased to $22.6M for H1 2026 from $29.4M in H1 2025, driven by lower R&D
Financial Impact
EPS miss of 12.5% vs consensus; $10M dilutive offering; cash burn $24.1M in H1 2026
Risk Factors
- Licensing dispute with NMS could jeopardize onvansertib rights
- Need for additional financing to initiate Phase 3 trial in Q1 2027
- Cash burn rate of ~$12M/quarter may require further dilutive capital raises
- Clinical trial risks: Phase 3 may fail to replicate Phase 2 results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3343174 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $1.33 $1.17 | ▲ +12.03% | ▲ +10.84% | $0.8105 (+39.06%) |
Sep 14, 2026 6w ago | 8-K | $1.31 $1.37 | ▲ +4.58% | ▲ +4.47% | $0.8105 (−38.13%) |
Aug 11, 2026 10w ago | Press Release | $0.9900 $0.8979 | ▲ +9.30% | ▲ +8.86% | $0.8105 (+18.13%) |
Jul 16, 2026 14w ago | Insider Cluster | $0.8800 $0.8381 | ▼ −4.76% | ▼ −4.07% | $0.8105 (−7.90%) |
Jul 16, 2026 14w ago | 8-K | $0.8745 $0.8381 | ▲ +4.16% | ▲ +2.49% | $0.8105 (+7.32%) |
Jul 16, 2026 14w ago | 424B5 | $0.8745 $0.8381 | ▲ +4.16% | ▲ +2.49% | $0.8105 (+7.32%) |
Jun 22, 2026 18w ago | Insider Cluster | $1.30 $1.25 | ▼ −3.85% | ▼ −1.78% | $0.8105 (−37.65%) |
Jun 11, 2026 19w ago | Institutional Cluster | $1.59 $1.18 | ▲ +25.79% | ▲ +26.22% | $0.8105 (+49.03%) |
Jun 3, 2026 20w ago | 8-K | $1.40 $1.48 | ▲ +5.71% | ▲ +9.53% | $0.8105 (−42.11%) |
Jun 2, 2026 21w ago | Press Release | $1.51 $1.53 | ▲ +1.32% | ▲ +4.29% | $0.8105 (−46.32%) |
US Market Status
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