San Diego-based Cardiff Oncology, Inc. (Nasdaq: CRDF) announced a USD 10 million registered direct offering on July 15, 2026, with proceeds directed toward working capital as the company prepares for regulatory discussions following a clinically meaningful data readout for its lead asset, onvansertib, earlier this year.
The offering comprises 8,571,429 shares of common stock at USD 1.05 per share, with company officers and directors purchasing an additional 731,707 shares at USD 1.435 per share — a higher price reflecting regulatory requirements governing insider participation. The financing includes common shares and accompanying warrants and was conducted under the company's existing shelf registration.
Cardiff's lead candidate, onvansertib, is a highly selective oral PLK1 inhibitor currently under evaluation in the Phase II CRDF-004 trial for first-line treatment of RAS-mutated metastatic colorectal cancer (mCRC), a patient population with limited treatment options and poor outcomes on standard chemotherapy regimens. At the ASCO Annual Meeting in June 2026, Cardiff reported that onvansertib added to standard-of-care chemotherapy — either FOLFIRI or FOLFOX combined with bevacizumab — achieved a confirmed objective response rate of 72.2% versus 42.1% in the control arm, meeting the trial's primary endpoint. The company also reported marked improvement in progression-free survival, with data suggesting a dose-dependent efficacy advantage at the 30mg level. The Phase II data provide a basis for potential regulatory discussions regarding a registrational pathway, although the company has not announced any formal FDA meetings.
The July 2026 raise is materially smaller than Cardiff's previous equity transaction: in December 2024, the company closed an oversubscribed USD 40 million registered direct offering at USD 2.60 per share, which extended its cash runway into early 2027. The current offering at USD 1.05 per share reflects a substantial decline in share price over the intervening period. The company has not publicly linked this capital raise to a specific regulatory milestone or FDA engagement, though the ASCO data readout positions Cardiff to initiate discussions with regulators regarding a potential approval pathway in first-line RAS-mutated mCRC.