Cardiff Oncology (CRDF) AI Stock Analysis

• Market Cap: $121.69M
• Dividend Yield: N/A
• Average Volume (3M): 665.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.20
• Revenue Growth: -27.29%
• EPS Growth: 16.40%
• Country: US
• Employees: 32
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.11
• Shares Outstanding: 68,364,980
• 10 Day Avg. Volume: 605,656
• 30 Day Avg. Volume: 665,663
• PEG Ratio: 0.15
• Price to Book (P/B): 4.14
• Price to Sales (P/S): 316.73
• P/FCF Ratio: -4.95
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 177.15
• Enterprise Value/Gross Profit: -9.37
• Enterprise Value/Ebitda: -2.25
• 1Y Price Target: $9.33
• Price Target Upside: 418.33% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): -0.76
• Revenue Forecast (FY): $357.00K

• Rating: 45 Neutral
• Price Target: $1.50 ▼(-16.67% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is primarily constrained by weak financial performance (minimal revenue, large ongoing losses, and sustained cash burn with shrinking equity), reinforced by bearish technical momentum (below key moving averages and negative MACD). Offsetting factors include a low-debt balance sheet and positive program-related corporate updates that could improve prospects if regulatory/clinical milestones are achieved.

Positive Factors

Clinical Efficacy

Robust efficacy signals (72% ORR and supportive PFS trends) create a credible basis for a registrational path. If sustained through confirmatory studies and regulatory engagement, this durability in clinical benefit can underpin long-term commercial opportunity in an underserved RAS-mutant mCRC population.

Low Financial Leverage

Very low debt minimizes interest obligations and reduces near-term insolvency risk, improving financial flexibility. For an R&D-stage biotech, low leverage preserves capacity to fund trials and negotiate financing or partnerships without the pressure of debt covenants, a durable risk mitigant.

Leadership Repositioning

Management overhaul and appointment of an experienced interim CEO signal a strategic shift toward late-stage execution. Strengthened leadership focused on clinical, regulatory and financing execution can materially improve probability of successful registrational planning and program advancement over coming months.

Negative Factors

No Product Revenue

Revenue is immaterial and fell to zero, meaning the company has no product-derived cash flow. This structural lack of operating revenue makes the business fully reliant on external capital and partnerships to fund R&D and operations, a durable constraint on self-sufficiency.

High Cash Burn

Sustained negative operating cash flows near -$38M annually imply large, ongoing funding needs. Persistent cash burn increases the probability of dilutive capital raises or partnership dependence, which can slow program timelines and dilute existing shareholders over the medium term.

Balance Sheet Depletion

Material decline in equity and assets reflects cumulative losses and capital drawdown. A shrinking capital base reduces runway and bargaining leverage in financings or deals, raising execution risk for late-stage programs and increasing likelihood of dilutive transactions over time.

Cardiff Oncology Business Overview & Revenue Model

Company Description

Cardiff Oncology, Inc., a clinical-stage oncology company, develops medicine treatment for cancer patients in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor for anti-cancer therapeutics; CY140, an inhibitor of PLK1, PLK2, and PLK3 that is in phase 1/2 studies in solid tumors and leukemias; metastatic colorectal cancer that is in clinical trials; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab. The company's TROV-053 is also in Phase II clinical trial in combination with Zytiga for metastatic castration-resistant prostate cancer. The company primarily serves pharmaceutical manufacturers. The company was formerly known as Trovagene, Inc. and changed its name to Cardiff Oncology, Inc. in May 2012. Cardiff Oncology, Inc. was incorporated in 1999 and is headquartered in San Diego, California.

How the Company Makes Money

Cardiff Oncology makes money through a combination of funding sources typical of clinical-stage biotech companies, such as equity financing, grants, and strategic partnerships. As a company focused on drug development, Cardiff Oncology does not yet generate revenue from product sales. Instead, it relies on raising capital through public and private offerings of its stock to fund its research and development activities. Additionally, the company may receive milestone payments or licensing fees from collaborations with larger pharmaceutical companies interested in its drug candidates. These partnerships can provide crucial financial support and resources needed to advance their clinical trials and bring their products closer to commercialization.

Cardiff Oncology Financial Statement Overview

Summary

Financial profile reflects an R&D-stage biotech: revenue is immaterial and fell to $0 in 2025, losses remain large and persistent (net income roughly -$41M to -$46M annually), and operating/free cash flow are consistently negative (~-$38M OCF in 2025). The key offset is very low leverage (debt-to-equity ~0.02), but equity/assets have declined materially, highlighting ongoing cash burn and funding dependence.

Income Statement

Revenue remains immaterial and volatile, with 2025 annual revenue dropping to $0 from $0.7M in 2024 (a -100% revenue growth rate). Losses are large and persistent, with net income around -$41M to -$46M annually from 2022–2025 and EBIT roughly -$40M to -$49M, indicating no clear path to profitability yet. A positive is that prior to 2025, revenue had been growing off a small base (2022–2024), but the income profile is still dominated by operating losses typical of an R&D-stage biotech.

Balance Sheet

Leverage is very low, with total debt of $0.8M in 2025 and debt-to-equity near ~0.02 across years, which reduces financial risk. However, the equity base has declined meaningfully (from ~$140.4M in 2021 to ~$45.4M in 2025) alongside falling total assets (from ~$149.5M in 2021 to ~$61.9M in 2025), consistent with ongoing cash burn. Returns on equity are deeply negative (e.g., about -101% in 2025), reflecting continued losses and balance-sheet depletion despite low debt.

Cash Flow

Cash generation is weak, with operating cash flow consistently negative (about -$23.0M in 2021, -$33.8M in 2022, -$30.9M in 2023, -$37.7M in 2024, and -$37.9M in 2025). Free cash flow is also consistently negative and worsened in 2025 versus 2024 (free cash flow growth of about -10.2%), implying continued reliance on external funding. A relative positive is that free cash flow broadly tracks net losses (free cash flow to net income ~1x), suggesting accounting losses are largely mirrored by cash usage (limited non-cash offset).

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	593.00K	683.00K	488.00K	386.00K	359.00K
Gross Profit	-311.00K	683.00K	488.00K	386.00K	359.00K
EBITDA	-44.97M	-48.25M	-45.01M	-39.67M	-28.40M
Net Income	-45.88M	-45.43M	-41.44M	-38.70M	-28.29M
Balance Sheet
Total Assets	61.88M	97.19M	81.64M	116.19M	149.54M
Cash, Cash Equivalents and Short-Term Investments	58.30M	91.75M	74.82M	105.27M	140.82M
Total Debt	832.00K	1.52M	2.15M	2.71M	3.12M
Total Liabilities	16.50M	14.24M	11.90M	9.85M	9.13M
Stockholders Equity	45.39M	82.95M	69.74M	106.34M	140.42M
Cash Flow
Free Cash Flow	-37.97M	-37.77M	-31.47M	-34.71M	-23.25M
Operating Cash Flow	-37.92M	-37.69M	-30.89M	-33.82M	-23.04M
Investing Cash Flow	1.34M	13.73M	36.20M	38.15M	-131.45M
Financing Cash Flow	2.58M	53.78M	0.00	75.00K	35.45M

Cardiff Oncology Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRDF, the sentiment is Negative. The current price of 1.8 is below the 20-day moving average (MA) of 1.88, below the 50-day MA of 2.04, and below the 200-day MA of 2.51, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 43.99 is Neutral, neither overbought nor oversold. The STOCH value of 18.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CRDF.

Cardiff Oncology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ONCY	52 Neutral	$101.94M	-3.43	-755.18%	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PYXS	46 Neutral	$88.42M	-1.58	-87.28%	―	-82.53%	-52.00%
CRDF	45 Neutral	$121.69M	-4.09	-82.00%	―	-27.29%	16.40%
AVTX	44 Neutral	$249.92M	-1.45	-88.43%	―	-76.59%	94.03%
MOLN	43 Neutral	$171.63M	-2.09	-49.86%	―	-100.00%	11.02%

Cardiff Oncology Corporate Events

Cardiff Oncology advances onvansertib program in colorectal cancer

Cardiff Oncology has outlined new clinical data and development plans for its PLK1 inhibitor onvansertib, highlighting strong efficacy signals in first-line RAS-mutant metastatic colorectal cancer, including a 72% confirmed overall response rate and favorable progression-free survival trends when combined with FOLFIRI and bevacizumab. The company is positioning onvansertib as a potential blockbuster therapy uniquely designed for the RAS-mutated mCRC population and plans to meet with the FDA in the first half of 2026 to review a proposed registrational program using a 30 mg dose, which, if successful, could significantly reshape treatment options in a large, underserved oncology market.

The most recent analyst rating on (CRDF) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Cardiff Oncology stock, see the CRDF Stock Forecast page.

Cardiff Oncology Overhauls Leadership to Advance Onvansertib

On January 27, 2026, Cardiff Oncology announced a major executive leadership transition as it prepares to move its lead cancer therapy, onvansertib, toward late-stage clinical development. Board member and experienced biotech executive Mani Mohindru, PhD, was appointed interim Chief Executive Officer, while CEO Mark Erlander, PhD, and CFO James Levine stepped down from their roles; the company also promoted long-time finance executive Brigitte Lindsay to Chief Accounting Officer and launched a search for permanent CEO and CFO successors. Management and board statements framed these changes as aligning Cardiff’s executive and financial leadership with the demands of advancing onvansertib in first-line RAS‑mutated metastatic colorectal cancer and broadening its potential across other difficult‑to‑treat cancers, signaling an intensified focus on execution, clinical progress and strategic positioning at a pivotal stage in the company’s development.

The most recent analyst rating on (CRDF) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Cardiff Oncology stock, see the CRDF Stock Forecast page.