CRDF · Cardiff Oncology, Inc.
Cardiff Oncology, Inc., a clinical-stage biotechnology company, develops novel therapies for the treatment of various cancers in the United States. Its lead drug candidate is Onvansertib, an oral and selective polo-like kinase 1 inhibitor for treating RAS-mutated metastatic colorectal cancer. The company also focuses on the clinical program in indications, such as investigator-initiated trials in metastatic pancreatic ductal adenocarcinoma, small cell lung cancer, metastatic triple negative breast cancer, and chronic myelomonocytic leukemia; CRDF-004, a Phase 2 open-label randomized multi-center clinical trial of onvansertib in combination with FOLFIRI and bevacizumab or FOLFOX and bevacizumab for the treatment of patients confirmed metastatic and unresectable colorectal cancer in patients with a KRAS or NRAS mutation; and TROV-054, a Phase 1b/2 single-arm clinical trial in KRAS-mutated metastatic colorectal cancer. The company was formerly known as Trovagene, Inc. and changed its name to Cardiff Oncology, Inc. in May 2012. Cardiff Oncology, Inc. was founded in 1999 and is headquartered in San Diego, California.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $0.87 |
| SO | 68.4M |
| Options | 3.3M |
| Warrants | 0.0M |
| FD SO | 71.7M |
| MC | $62.3M |
| Cash | $8.5M |
| Total debt | — |
| EV | $53.8M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 102.5x |
| EV / EBITDA | — |
| MC / Net Income | 59.8x |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 28.9% |
| Insiders | 5.2% |
| # Institutions | 148 |
| Analysts | 7 |
| Consensus | — |
| Avg target | $5.21 |
| Short % float | 19.2% |
| Days to cover | 6.88 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-04-30. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-17 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-30; the float denominator can be unreliable on tiny floats.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 0.04 | 0.24 | 0.12 | 0.12 |
| Revenue YoY % | (62.4%) | 60.9% | (27.3%) | (25.8%) |
| SG&A | 6.13 | 3.00 | 3.90 | 3.32 |
| Operating Income | (12.85) | (7.83) | (11.97) | (14.78) |
| Operating Income YoY % | 10.7% | 37.7% | 5.0% | (17.8%) |
| Operating Margin % | (31341.5%) | (3221.0%) | (9978.3%) | (12212.4%) |
| EBITDA | (12.76) | (7.74) | (11.88) | (14.68) |
| EBITDA Margin % | (31129.3%) | (3184.8%) | (9904.2%) | (12134.7%) |
| Other Income / (Expense) | 0.51 | 46.42 | 0.72 | 0.83 |
| Pretax Income | (12.35) | 38.59 | (11.26) | (13.94) |
| Net Income | (12.35) | 38.59 | (11.26) | (13.94) |
| Net Margin % | (30109.8%) | 15880.3% | (9381.7%) | (11523.1%) |
| Diluted EPS | -$0.18 | -$0.11 | -$0.17 | -$0.21 |
| Basic EPS | -$0.18 | -$0.11 | -$0.17 | -$0.21 |
| Diluted Avg Shares | 68.3 | — | 66.9 | 66.5 |
| Basic Avg Shares | 68.3 | — | 66.9 | 66.5 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 0.53 | 0.59 | 0.68 | 0.49 | 0.39 |
| Revenue YoY % | (11.5%) | (13.2%) | 40.0% | 26.4% | — |
| SG&A | 16.34 | 14.22 | 12.48 | 13.04 | 13.18 |
| R&D | — | — | — | — | 27.10 |
| Operating Income | (47.43) | (48.96) | (48.65) | (45.41) | (39.90) |
| Operating Income YoY % | 3.1% | (0.6%) | (7.1%) | (13.8%) | — |
| Operating Margin % | (9033.9%) | (8256.3%) | (7123.1%) | (9305.7%) | (10337.3%) |
| EBITDA | (47.07) | (48.60) | (48.25) | (45.01) | (39.67) |
| EBITDA Margin % | (8965.7%) | (8194.9%) | (7064.0%) | (9224.2%) | (10276.2%) |
| Other Income / (Expense) | 48.47 | 48.91 | 48.61 | 3.97 | 1.20 |
| Pretax Income | 1.04 | (0.05) | (0.05) | (41.44) | (38.70) |
| Tax Provision | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 1.04 | (0.05) | (0.05) | (41.44) | (38.70) |
| Net Margin % | 198.7% | (7.7%) | (6.7%) | (8492.0%) | (10026.9%) |
| Diluted EPS | -$0.67 | -$0.69 | -$0.95 | -$0.93 | -$0.89 |
| Basic EPS | -$0.67 | -$0.69 | -$0.95 | -$0.93 | -$0.89 |
| Diluted Avg Shares | 68.3 | 0.1 | 0.0 | 44.7 | 43.6 |
| Basic Avg Shares | 68.3 | 0.1 | 0.0 | 44.7 | 43.6 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 8.54 | 17.47 | 10.13 | 10.78 |
| Short-term Investments | 37.51 | 40.83 | 50.46 | 60.17 |
| Receivables | 0.19 | 0.18 | 0.25 | 0.53 |
| Other Current Assets | 1.09 | 1.64 | 0.96 | 2.21 |
| Total Current Assets | 47.34 | 60.13 | 61.80 | 73.70 |
| Net PPE | 0.49 | 0.58 | 0.67 | 0.67 |
| Operating Lease ROU | 0.49 | 0.63 | 0.76 | 0.90 |
| Other Assets | 0.84 | 0.55 | 0.55 | — |
| Total Assets | 49.17 | 61.88 | 63.78 | 75.74 |
| Accounts Payable | 5.48 | 8.09 | 2.44 | 6.01 |
| Current Lease Liabilities | 0.65 | 0.73 | 0.73 | 0.72 |
| Other Current Liabilities | 8.34 | 7.58 | 11.54 | 9.94 |
| Total Current Liabilities | 14.46 | 16.39 | 14.71 | 16.67 |
| Long-term Lease Liabilities | 0.00 | 0.10 | 0.28 | 0.46 |
| Total Liabilities | 14.46 | 16.50 | 14.99 | 17.13 |
| Retained Earnings | (442.38) | (430.03) | (422.81) | (411.56) |
| Total Equity | 34.71 | 45.39 | 48.79 | 58.61 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 8.54 | 17.47 | 51.47 | 21.66 | 16.35 |
| Short-term Investments | 37.51 | 40.83 | 40.28 | 53.17 | 88.92 |
| Receivables | 0.19 | 0.18 | 0.77 | 0.29 | 0.77 |
| Other Current Assets | 1.09 | 1.64 | 2.54 | 2.30 | 5.25 |
| Total Current Assets | 47.34 | 60.13 | 95.05 | 77.41 | 111.28 |
| Net PPE | 0.49 | 0.58 | 0.90 | 1.24 | 1.27 |
| Operating Lease ROU | 0.49 | 0.63 | 1.17 | 1.71 | 2.25 |
| Other Assets | 0.84 | 0.55 | — | 1.28 | 1.39 |
| Total Assets | 49.17 | 61.88 | 97.19 | 81.64 | 116.19 |
| Accounts Payable | 5.48 | 8.09 | 4.82 | 1.97 | 1.96 |
| Current Lease Liabilities | 0.65 | 0.73 | 0.71 | 0.69 | 0.68 |
| Other Current Liabilities | 8.34 | 7.58 | 7.90 | 7.78 | 5.18 |
| Total Current Liabilities | 14.46 | 16.39 | 13.43 | 10.44 | 7.81 |
| Long-term Lease Liabilities | 0.00 | 0.10 | 0.81 | 1.46 | 2.04 |
| Total Liabilities | 14.46 | 16.50 | 14.24 | 11.90 | 9.85 |
| Retained Earnings | (442.38) | (430.03) | (384.18) | (339.54) | (298.10) |
| Total Equity | 34.71 | 45.39 | 82.95 | 69.74 | 106.34 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | (12.35) | 38.59 | (11.26) | (13.94) |
| D&A | 0.09 | 0.09 | 0.09 | 0.09 |
| Stock-Based Comp | 1.66 | 1.26 | 1.38 | 1.68 |
| Δ Working Cap & Other | (1.69) | (45.91) | (1.05) | 3.84 |
| Operating Cash Flow | (12.29) | (5.97) | (10.83) | (8.33) |
| CapEx | — | 0.00 | (0.02) | — |
| Other Investing | 3.26 | 10.75 | 10.18 | (4.98) |
| Investing Cash Flow | 3.26 | 10.75 | 10.16 | (4.98) |
| Other Financing | — | 2.55 | — | — |
| Financing Cash Flow | 0.10 | 2.55 | 0.03 | 0.00 |
| Free Cash Flow | — | (5.97) | (10.85) | — |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | 1.04 | (0.05) | (0.05) | (41.44) | (38.70) |
| D&A | 0.36 | 0.36 | 0.40 | 0.40 | 0.24 |
| Stock-Based Comp | 5.99 | 5.69 | 4.76 | 4.51 | 4.26 |
| Δ Working Cap & Other | (44.81) | (43.93) | (42.81) | 5.65 | 0.39 |
| Operating Cash Flow | (37.42) | (37.92) | (37.69) | (30.89) | (33.82) |
| CapEx | — | (0.04) | (0.08) | (0.58) | (1.01) |
| Other Investing | 19.18 | 1.39 | 13.81 | 36.78 | 39.16 |
| Investing Cash Flow | 19.18 | 1.34 | 13.73 | 36.20 | 38.15 |
| Stock Issuance | — | 0.00 | 53.41 | — | 0.00 |
| Other Financing | 2.68 | 2.58 | — | — | — |
| Financing Cash Flow | 2.68 | 2.58 | 53.78 | 0.00 | 0.07 |
| Free Cash Flow | — | (37.97) | (37.77) | (31.47) | (34.83) |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | 3.27 | 3.67 | 4.20 | 4.42 |
| Quick Ratio | — | — | — | — |
| Debt / Equity | 0.42 | 0.36 | 0.31 | 0.29 |
| EBITDA Margin % | (31129.3%) | (3184.8%) | (9904.2%) | (12134.7%) |
| Working Capital | 32.88 | 43.73 | 47.09 | 57.03 |
| Net Debt | — | — | — | — |
| ROE % | (35.6%) | 85.0% | (23.1%) | (23.8%) |
| ROA % | (25.1%) | 62.4% | (17.7%) | (18.4%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 3.27 | 3.67 | 7.08 | 7.41 | 14.25 |
| Quick Ratio | — | — | — | — | — |
| Debt / Equity | 0.42 | 0.36 | 0.17 | 0.17 | 0.09 |
| EBITDA Margin % | (8965.7%) | (8194.9%) | (7064.0%) | (9224.2%) | (10276.2%) |
| Working Capital | 32.88 | 43.73 | 81.63 | 66.97 | 103.48 |
| Net Debt | — | — | — | — | — |
| ROE % | 3.0% | (0.1%) | (0.1%) | (59.4%) | (36.4%) |
| ROA % | 2.1% | (0.1%) | (0.0%) | (50.8%) | (33.3%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-07-16 | PACE GARY W | Director | 2026-07-14 | P | 687,285 | $1.46 | $1,000,000 |
| 2026-07-16 | PACE GARY W | Director | 2026-07-14 | P | 687,285 | — | $0 |
| 2026-07-16 | Mohindru Mani | Director, Officer (Chief Executive Officer) | 2026-07-14 | P | 34,364 | $1.46 | $50,000 |
| 2026-07-16 | Mohindru Mani | Director, Officer (Chief Executive Officer) | 2026-07-14 | P | 34,364 | — | $0 |
| 2026-06-22 | Mohindru Mani | Director, Officer (Chief Executive Officer) | 2026-06-18 | P | 24,703 | $1.21 | $29,891 |
| 2026-06-22 | PACE GARY W | Director | 2026-06-18 | P | 30,000 | $1.22 | $36,600 |
| 2026-06-15 | Armitage James O | Director | 2026-06-11 | A | 40,565 | — | $0 |
| 2026-06-15 | White Lale | Director | 2026-06-11 | A | 40,565 | — | $0 |
| 2026-06-15 | TANNENBAUM RENEE P | Director | 2026-06-11 | A | 40,565 | — | $0 |
| 2026-06-15 | Markin Rodney S | Director | 2026-06-11 | A | 40,565 | — | $0 |
| 2026-06-15 | PACE GARY W | Director | 2026-06-11 | A | 40,565 | — | $0 |
| 2026-04-28 | Aggarwal Ajay | Officer (Chief Operating Officer) | 2026-04-27 | A | 400,000 | — | $0 |
| 2026-04-16 | Smeal Tod | Officer (Chief Scientific Officer) | 2026-04-14 | A | 300,000 | — | $0 |
| 2026-04-16 | Muntner Joshua B | Officer (Chief Financial Officer) | 2026-04-06 | A | 486,650 | — | $0 |
| 2026-04-16 | Muntner Joshua B | Officer (Chief Financial Officer) | 2026-04-06 | A | 486,650 | — | $0 |
| 2026-04-02 | Mohindru Mani | Director, Officer (Chief Executive Officer) | 2026-03-31 | A | 600,000 | — | $0 |
| 2026-02-18 | Mohindru Mani | Director, Officer (Interim CEO) | 2026-02-17 | A | 200,000 | — | $0 |
| 2026-02-18 | Lindsay Brigitte Ute | Officer (Chief Accounting Officer) | 2026-02-13 | A | 200,000 | — | $0 |
| 2025-07-31 | PACE GARY W | Director | 2025-07-30 | P | 275,000 | $2.45 | $673,750 |
| 2025-07-31 | PACE GARY W | Director | 2025-07-30 | P | 15,000 | $2.45 | $36,750 |
| 2025-06-30 | TANNENBAUM RENEE P | Director | 2025-06-26 | A | 40,565 | — | $0 |
| 2025-06-30 | Markin Rodney S | Director | 2025-06-26 | A | 40,565 | — | $0 |
| 2025-06-30 | Mohindru Mani | Director | 2025-06-26 | A | 40,565 | — | $0 |
| 2025-06-27 | Armitage James O | Director | 2025-06-26 | A | 40,565 | — | $0 |
| 2025-06-27 | White Lale | Director | 2025-06-26 | A | 40,565 | — | $0 |
| 2025-06-27 | PACE GARY W | Director | 2025-06-26 | A | 40,565 | — | $0 |
| 2025-03-13 | Kabbinavar Fairooz | Officer (Chief Medical Officer) | 2025-03-11 | A | 150,000 | — | $0 |
| 2025-03-13 | Levine James E. | Officer (Chief Financial Officer) | 2025-03-11 | A | 332,621 | — | $0 |
| 2025-03-13 | Smeal Tod | Officer (Chief Scientific Officer) | 2025-03-11 | A | 332,621 | — | $0 |
| 2025-03-13 | Erlander Mark | Director, Officer (Chief Executive Officer) | 2025-03-11 | A | 758,400 | — | $0 |
| 2024-12-18 | Levine James E. | Officer (Chief Financial Officer) | 2024-12-18 | P | 2,400 | $5.00 | $12,000 |
| 2024-12-18 | Levine James E. | Officer (Chief Financial Officer) | 2024-12-17 | P | 2,752 | $5.42 | $14,905 |
| 2024-12-18 | Levine James E. | Officer (Chief Financial Officer) | 2024-12-16 | P | 2,564 | $3.83 | $9,820 |
| 2024-12-16 | TANNENBAUM RENEE P | Director | 2024-12-12 | P | 10,000 | $3.42 | $34,224 |
| 2024-12-12 | PACE GARY W | Director | 2024-12-11 | P | 350,115 | $2.60 | $910,299 |
| 2024-12-12 | PACE GARY W | Director | 2024-12-11 | P | 11,500 | $2.60 | $29,900 |