Cardiff Oncology's Onvansertib Hits 72% ORR in Phase 2, Moves to Registrational Trial
CRDF is trading near its 52-week low of $1.4 (7.1% above the low) on elevated volume (3.0× avg).
Summary
Cardiff Oncology reported strong Phase 2 data for its lead drug, onvansertib, achieving a 72% Overall Response Rate (ORR) in the CRDF-004 trial. The company has selected the 30 mg dose for a registrational Phase 3 trial, CRDF-005, which will have dual primary endpoints of ORR and PFS. This positive development is critical, especially following the recent termination of the onvansertib license agreement by Nerviano Medical Sciences and the company's 'going concern' warning. The data provides a potential path forward for the drug amidst significant legal and financial challenges. The outcome of the ongoing license dispute remains a key factor to watch.
At the time of this announcement, CRDF was trading at $1.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $103.2M. The 52-week trading range was $1.40 to $4.56. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.