Cardiff Oncology Q2 2024: Net Loss of $16.9M
Ticker: CRDF · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1213037
| Field | Detail |
|---|---|
| Company | Cardiff Oncology, Inc. (CRDF) |
| Form Type | 10-Q |
| Filed Date | Aug 8, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
Cardiff Oncology lost $16.9M in Q2 2024, with $101.8M in assets and $13.1M in liabilities.
AI Summary
Cardiff Oncology, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $101.8 million and total liabilities of $13.1 million as of June 30, 2024. For the three months ended June 30, 2024, the company incurred a net loss of $16.9 million.
Why It Matters
This filing provides insight into Cardiff Oncology's financial health and operational performance during the second quarter of 2024, which is crucial for investors assessing the company's viability and future prospects.
Risk Assessment
Risk Level: medium — The company reported a net loss, which is common for biotech firms but indicates ongoing financial burn that requires careful monitoring.
Key Numbers
- $101.8M — Total Assets (As of June 30, 2024)
- $13.1M — Total Liabilities (As of June 30, 2024)
- $16.9M — Net Loss (3 months) (For the period ended June 30, 2024)
Key Players & Entities
- Cardiff Oncology, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- $101.8 million (dollar_amount) — Total assets as of June 30, 2024
- $13.1 million (dollar_amount) — Total liabilities as of June 30, 2024
- $16.9 million (dollar_amount) — Net loss for the three months ended June 30, 2024
FAQ
What was Cardiff Oncology's net loss for the six months ended June 30, 2024?
The filing indicates a net loss of $33.7 million for the six months ended June 30, 2024.
How much cash and cash equivalents did Cardiff Oncology have at the end of the reporting period?
Cardiff Oncology reported $34.7 million in cash and cash equivalents as of June 30, 2024.
What were the total revenues for the three months ended June 30, 2024?
Total revenues for the three months ended June 30, 2024, were $0.8 million.
What was the company's retained earnings deficit as of June 30, 2024?
The company had a retained earnings deficit of $271.7 million as of June 30, 2024.
What was the total stockholders' equity as of June 30, 2024?
Total stockholders' equity was $88.7 million as of June 30, 2024.
Filing Stats: 4,812 words · 19 min read · ~16 pages · Grade level 15.6 · Accepted 2024-08-08 16:00:13
Filing Documents
- crdf-20240630.htm (10-Q) — 806KB
- crdf-063024exhibit311.htm (EX-31.1) — 10KB
- crdf-063024exhibit312.htm (EX-31.2) — 10KB
- crdf-063024exhibit321.htm (EX-32.1) — 6KB
- crdf-063024exhibit322.htm (EX-32.2) — 6KB
- 0001628280-24-036098.txt ( ) — 4225KB
- crdf-20240630.xsd (EX-101.SCH) — 24KB
- crdf-20240630_cal.xml (EX-101.CAL) — 56KB
- crdf-20240630_def.xml (EX-101.DEF) — 115KB
- crdf-20240630_lab.xml (EX-101.LAB) — 345KB
- crdf-20240630_pre.xml (EX-101.PRE) — 229KB
- crdf-20240630_htm.xml (XML) — 609KB
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Balance Sheets 3 Condensed Statements of Operations 4 Condensed Statements of Comprehensive Loss 5 Condensed Statements of Stockholders' Equity 6 Condensed Statements of Cash Flows 8 Notes to Condensed Financial Statements 9 Item 2 .
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3 .
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 24 Item 4 .
Controls and Procedures
Controls and Procedures 24 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 26
SIGNATURES
SIGNATURES 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CARDIFF ONCOLOGY, INC. CONDENSED BALANCE SHEETS (in thousands, except par value) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 25,501 $ 21,655 Short-term investments 34,818 53,168 Accounts receivable and unbilled receivable 451 288 Prepaid expenses and other current assets 1,476 2,301 Total current assets 62,246 77,412 Property and equipment, net 1,095 1,238 Operating lease right-of-use assets 1,439 1,708 Other assets 1,271 1,279 Total Assets $ 66,051 $ 81,637 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 5,108 $ 1,966 Accrued liabilities 6,712 7,783 Operating lease liabilities 702 691 Total current liabilities 12,522 10,440 Operating lease liabilities, net of current portion 1,141 1,458 Total Liabilities 13,663 11,898 Commitments and contingencies (Note 6) Stockholders' equity Preferred stock, 20,000 shares authorized; 277 designated as Series A Convertible Preferred Stock; 61 shares outstanding at June 30, 2024 and December 31, 2023 with liquidation preference of $ 1,080 and $ 1,068 at June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value, 150,000 shares authorized; 45,602 and 44,677 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 5 4 Additional paid-in capital 413,017 409,343 Accumulated other comprehensive loss ( 97 ) ( 67 ) Accumulated deficit ( 360,537 ) ( 339,541 ) Total stockholders' equity 52,388 69,739 Total liabilities and stockholders' equity $ 66,051 $ 81,637 See accompanying notes to the unaudited condensed financial statements. 3 Table of Contents CARDIFF ONCOLOGY, INC. CONDENSED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Royalty revenues $ 163 $ 108 $ 368 $ 191 Costs and expenses: Research and development 9