Cardiff Oncology, Inc.

Listed Company

CRDFCIK 0001213037NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$593.0K

Net Income

$-45.85M

Total Assets

$61.88M

Equity

$45.39M

Shares Out

68.36M

Op. Cash Flow

$-37.92M

Business

Cardiff Oncology, Inc. develops targeted cancer therapies centered on selective PLK1 inhibition. It primarily develops onvansertib, an oral, highly selective PLK1 small-molecule inhibitor intended for use alone or in combination with standard-of-care chemotherapies and targeted agents. The company’s clinical programs include focused trial programs in RAS-mutated metastatic colorectal cancer, investigator-initiated studies in metastatic pancreatic ductal adenocarcinoma, small cell lung cancer, and triple negative breast cancer, and incorporates biomarker and tumor genomics analyses. Cardiff conducts its operations and clinical activities primarily through U.S.-based trials and third-party manufacturing and distribution partners.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Royalty revenues	593,000	683,000	488,000	386,000	359,000
Research and development	35	37	33	27	17
Selling, general and administrative	14	12	13	13	12
Total operating expenses	50	49	46	40	29
Loss from operations	−49	−49	−45	−40	−29
Interest income	3	3	4	2	264,000
Other income (expense), net	5,000	−39,000	−98,000	—	—
Total other income (expense), net	3	3	4	1	564,000
Net loss	−46	−45	−41	−39	−28
Preferred stock dividend payable on Series A Convertible Preferred Stock	−25,000	−24,000	−24,000	−24,000	−24,000
Net loss attributable to common stockholders	−46	−45	−41	−39	−28
Net loss per common share - basic	−0.69	−0.95	−0.93	−0.89	−0.73
Net loss per common share - diluted	−0.69	−0.95	−0.93	−0.89	−0.73
Weighted-average shares outstanding - basic	67	48	45	44	39
Weighted-average shares outstanding - diluted	67	48	45	44	39

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	17	51	22	16	12
Short-term investments	41	40	53	89	129
Accounts receivable and unbilled receivable	182,000	773,000	288,000	771,000	535,000
Prepaid expenses and other current assets	2	3	2	—	—
Total current assets	60	95	77	111	146
Property and equipment, net	578,000	898,000	1	1	382,000
Operating lease right-of-use assets	629,000	1	2	2	3
Other assets	549,000	69,000	1	1	239,000
Total Assets	62	97	82	116	150
Accounts payable	8	5	2	2	1
Accrued liabilities	8	8	8	5	5
Operating lease liabilities	730,000	710,000	691,000	675,000	551,000
Total current liabilities	16	13	10	8	7
Operating lease liabilities, net of current portion	102,000	813,000	1	2	3
Total Liabilities	16	14	12	10	9
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.001 par value, 20,000 shares authorized; 277 designated as Series A Convertible Preferred Stock; 61 shares outstanding at December 31, 2025 and December 31, 2024 with liquidation preference of $1,117 and $1,092 at December 31, 2025 and December 31, 2024, respectively	0	0	0	0	1,000
Common stock, $0.0001 par value, 150,000 shares authorized; 68,305 and 66,524 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	7,000	7,000	4,000	4,000	4,000
Additional paid-in capital	475	467	409	405	401
Accumulated other comprehensive gain	50,000	34,000	−67,000	−395,000	−142,000
Accumulated deficit	−430	−384	−340	−298	−260
Total stockholders equity	45	83	70	106	140
Total liabilities and stockholders equity	62	97	82	116	150

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	364,000	404,000	398,000	236,000	451,000
Stock-based compensation expense	6	5	5	4	3
Amortization of right-of-use assets	540,000	539,000	—	—	—
Accretion of discounts on short-term investments, net	−848,000	−598,000	−921,000	632,000	2
Accounts receivable and unbilled receivable	591,000	−484,000	483,000	−236,000	−215,000
Prepaid expenses and other current assets	557,000	−452,000	3	−443,000	−2
Other assets	−480,000	1	108,000	−1	166,000
Accounts payable and accrued liabilities	2	3	3	1	719,000
Operating lease liabilities	−691,000	−626,000	−566,000	−404,000	−811,000
Net cash used in operating activities	−38	−38	−31	−34	−23
Capital expenditures	−44,000	−80,000	−582,000	−1	−205,000
Maturities of short-term investments	71	27	87	76	28
Purchases of short-term investments	−72	−24	−70	−91	−174
Sales of short-term investments	2	10	20	54	15
Net cash provided by investing activities	1	14	36	38	−131
Proceeds from sales of common stock, net of expenses of $0 and $3,286, respectively	0	53	—	0	34
Proceeds from exercise of warrants, net of expense of $169 and $0, respectively	2	0	—	0	1
Proceeds from exercise of options	493,000	373,000	0	75,000	0
Net cash provided by financing activities	3	54	0	75,000	35
Net change in cash and cash equivalents	−34	30	5	4	−119
Cash paid for taxes	1,000	1,000	—	—	—
Purchases of unsettled short-term investments included in accrued liabilities	744,000	0	16,000	232,000	6,000

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