Cardiff Oncology falls after backing off from prostrate cancer treatment study

Cardiff Oncology

12/09/2022 23:40

** Shares of biotechnology company Cardiff Oncology  CRDF.O 
falls 16.2% to $2.7 in after-market trade
    ** Co says that it has decided it will not independently
fund any future clinical activities in Metastatic
Castrate-Resistant Prostate Cancer trial (mCRPC)  urn:newsml:reuters.com:*:nPn2kFp9la
    ** MCRPC trial tested co's cancer therapy Onvansertib in
combination with prostate cancer drug in patients with initial
resistance to the drug
    ** Co says it has  plans to conduct mid-stage trial for an
onvansertib combination to treat colorectal cancer, with results
expected in the second half of 2024
    ** Based on this approach and our current projections, we
expect our current cash resources to fund company operations
into 2025 - CRDF CRDD CEO Mark Erlander
    ** Up to last close, stock fell 46.6% YTD

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((Nandhini.srinivasan@thomsonreuters.com))