Cardiff Oncology, Inc. presented updates from the ongoing Phase Ib/II clinical trial for its Polo-like kinase-1 (PLK1) inhibitor onvansertib at the European Society for Medical Oncology (ESMO) meeting that showed the drug’s potential for treating a broad range of KRAS mutations in second-line colorectal cancer (CRC), unlike closely watched KRAS inhibitors like Amgen, Inc.’s Lumakras (sotorasib) and Mirati Therapeutics, Inc.’s adagrasib that specifically target KRAS G12C mutations.
Even so, while Cardiff’s stock price rose 10.7% to $3.21 per share on 12 September based on the ESMO poster presentations, the company’s valuation fell 16.5% after hours to $2.68 following a same-day call to discuss the data and plans for further development of the drug. Cardiff plunged 41.1% to $1
