Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Targeted Therapies, Show more.

Weak multi-year price returns
2Y Excs Rtn is -104%, 3Y Excs Rtn is -57%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -49 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -8256%

Expensive valuation multiples
P/SPrice/Sales ratio is 197x

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -13%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 960%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6395%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6398%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -43%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 32.33, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 27%

Key risks
CRDF key risks include [1] an over-reliance on the clinical and regulatory success of its single primary drug candidate, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28%
2 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Targeted Therapies, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -104%, 3Y Excs Rtn is -57%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -49 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -8256%
5 Expensive valuation multiples
P/SPrice/Sales ratio is 197x
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -13%
7 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 960%
8 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6395%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6398%
9 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -43%
10 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 32.33, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 27%
11 Key risks
CRDF key risks include [1] an over-reliance on the clinical and regulatory success of its single primary drug candidate, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Cardiff Oncology (CRDF) stock has lost about 40% since 12/31/2025 because of the following key factors:

1. Executive Leadership Changes and Resulting Uncertainty.

Cardiff Oncology experienced a significant stock drop, plummeting approximately 31-34% on January 28, 2026, following the announcement that its CEO, Dr. Mark Erlander, and CFO, James Levine, were stepping down. This unexpected leadership overhaul created investor unease and concerns regarding the company's future strategic direction during its transition to late-stage clinical development.

2. Market Skepticism Despite Positive Phase 2 Clinical Data.

Despite reporting a positive update from its Phase 2 CRDF-004 trial in January 2026, where the 30 mg onvansertib arm demonstrated a confirmed objective response rate (ORR) of 72.2% compared to 43.2% for standard of care in RAS-mutated metastatic colorectal cancer, and a significant improvement in progression-free survival (HR: 0.37, p<0.05), the stock's overall decline persisted. This suggests that while the data was positive, the market may have factored in previous muted reactions to clinical updates or held a skeptical view on the program's long-term commercialization or the company's ability to finance future large-scale trials.

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Stock Movement Drivers

Fundamental Drivers

The -38.4% change in CRDF stock from 12/31/2025 to 4/22/2026 was primarily driven by a -47.6% change in the company's P/S Multiple.
(LTM values as of)123120254222026Change
Stock Price ($)2.811.73-38.4%
Change Contribution By: 
Total Revenues ($ Mil)1118.4%
P/S Multiple375.1196.7-47.6%
Shares Outstanding (Mil)6767-0.8%
Cumulative Contribution-38.4%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/22/2026
ReturnCorrelation
CRDF-38.4% 
Market (SPY)-5.4%26.4%
Sector (XLV)-5.4%43.9%

Fundamental Drivers

The -16.0% change in CRDF stock from 9/30/2025 to 4/22/2026 was primarily driven by a -21.6% change in the company's P/S Multiple.
(LTM values as of)93020254222026Change
Stock Price ($)2.061.73-16.0%
Change Contribution By: 
Total Revenues ($ Mil)118.6%
P/S Multiple251.0196.7-21.6%
Shares Outstanding (Mil)6767-1.3%
Cumulative Contribution-16.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/22/2026
ReturnCorrelation
CRDF-16.0% 
Market (SPY)-2.9%36.1%
Sector (XLV)5.6%37.0%

Fundamental Drivers

The -44.9% change in CRDF stock from 3/31/2025 to 4/22/2026 was primarily driven by a -21.0% change in the company's P/S Multiple.
(LTM values as of)33120254222026Change
Stock Price ($)3.141.73-44.9%
Change Contribution By: 
Total Revenues ($ Mil)11-13.3%
P/S Multiple248.9196.7-21.0%
Shares Outstanding (Mil)5467-19.6%
Cumulative Contribution-44.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/22/2026
ReturnCorrelation
CRDF-44.9% 
Market (SPY)16.3%27.4%
Sector (XLV)1.6%36.6%

Fundamental Drivers

The 4.8% change in CRDF stock from 3/31/2023 to 4/22/2026 was primarily driven by a 53.6% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120234222026Change
Stock Price ($)1.651.734.8%
Change Contribution By: 
Total Revenues ($ Mil)0153.6%
P/S Multiple190.3196.73.4%
Shares Outstanding (Mil)4567-34.0%
Cumulative Contribution4.8%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/22/2026
ReturnCorrelation
CRDF4.8% 
Market (SPY)63.3%20.9%
Sector (XLV)18.4%21.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CRDF Return-67%-77%6%193%-35%-41%-91%
Peers Return-7%32%41%-1%2%12%94%
S&P 500 Return27%-19%24%23%16%3%88%

Monthly Win Rates [3]
CRDF Win Rate25%42%50%58%33%50% 
Peers Win Rate42%67%58%50%67%53% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CRDF Max Drawdown-72%-81%-31%-1%-55%-47% 
Peers Max Drawdown-25%0%-2%-3%-23%-12% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ALPS, DFTX, EIKN, GENB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/22/2026 (YTD)

How Low Can It Go

Unique KeyEventCRDFS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-95.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven1938.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-66.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven194.7%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven70 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-99.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven17008.9%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-72.5%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven263.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,236 days1,480 days

Compare to VRTX, ALPS, DFTX, EIKN, GENB

In The Past

Cardiff Oncology's stock fell -95.1% during the 2022 Inflation Shock from a high on 1/14/2021. A -95.1% loss requires a 1938.5% gain to breakeven.

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About Cardiff Oncology (CRDF)

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.

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Here are 1-2 brief analogies for Cardiff Oncology (CRDF):

  • Think of it as an early-stage Amgen or Genentech, exclusively focused on developing new cancer therapies.
  • It's like a highly focused R&D lab for cancer drugs, akin to a dedicated department within a major pharma company like Merck or Pfizer, but operating independently.

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  • onvansertib: An oral selective Polo-like Kinase 1 Inhibitor (PLK1) being developed as an anti-cancer therapeutic.
  • CY140: An inhibitor of PLK1, PLK2, and PLK3, currently in early-stage clinical trials for solid tumors and leukemias.
  • TROV-054: A drug candidate in Phase 1b/2 clinical trials for metastatic colorectal cancer, specifically in combination with FOLFIRI and bevacizumab.
  • TROV-053: A drug candidate in Phase II clinical trials for metastatic castration-resistant prostate cancer, in combination with Zytiga.

AI Analysis | Feedback

Cardiff Oncology (CRDF) is a clinical-stage oncology company focused on developing medicine treatments for cancer patients.

Based on the provided information, the company primarily serves pharmaceutical manufacturers.

As a clinical-stage company, Cardiff Oncology develops drug candidates through various phases of clinical trials. The description does not specify the names of any particular pharmaceutical manufacturers that are current major customers. This is typical for clinical-stage companies, as their business model often involves developing drugs to a certain point and then seeking partnerships, licensing agreements, or acquisitions by larger pharmaceutical companies for further development, manufacturing, and commercialization.

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Mani Mohindru, PhD Interim Chief Executive Officer

Mani Mohindru has served as interim Chief Executive Officer of Cardiff Oncology since January 2026 and has been a director since 2021. She was most recently the CEO of Novasanta, an oncology-focused biotech company, and a Director on the Board of CytomX, Inc. (Nasdaq: CTMX). Dr. Mohindru previously held executive roles at several biotechnology companies, including Chief Executive Officer of CereXis, Inc., Chief Financial Officer and Chief Strategy Officer of Cara Therapeutics, Inc. (Nasdaq: CARA), and Chief Strategy Officer at Curis, Inc. (Nasdaq: CRIS). She also co-founded Roshon Therapeutics, a private biotechnology company focused on developing novel therapies for cancer and inflammatory diseases. Earlier in her career, Dr. Mohindru was an equity research analyst covering the biotechnology sector at UBS, Credit Suisse, and ThinkEquity.

Brigitte Lindsay Chief Accounting Officer

Brigitte Lindsay has served as Chief Accounting Officer of Cardiff Oncology since January 2026, overseeing the finance function. She has been with the company for over 14 years and was most recently the Senior Vice President of Finance. Prior to Cardiff Oncology, Ms. Lindsay served as Controller for AviaraDx, both before and after its acquisition by bioMérieux. She was also a Manager of Financial Reporting and Analysis at Carl Zeiss Meditec.

Roger Sidhu, MD Chief Medical Officer

Dr. Roger Sidhu was appointed Chief Medical Officer of Cardiff Oncology in June 2025. He is an accomplished drug developer with over 20 years of oncology leadership and clinical experience. Dr. Sidhu was most recently Acting CEO and Chief Medical Officer at Treadwell Therapeutics, a privately held biotechnology company where he was responsible for advancing a portfolio of small molecules for solid tumors and hematologic malignancies. Previously, he spent nearly 10 years at Amgen in roles of increasing responsibility in the Hematology/Oncology therapeutic area, where he advanced multiple therapeutic candidates and led several Phase 3 clinical trials for panitumumab (Vectibix®).

Tod Smeal, PhD Chief Scientific Officer

Dr. Tod Smeal has served as Chief Scientific Officer of Cardiff Oncology since January 2022. Prior to joining Cardiff Oncology, he was CSO at Hexagon Bio from 2020 to 2021, and CSO of Cancer Biology at Eli Lilly and Company from 2015 to 2020. Dr. Smeal also held positions as Director at the Oncology Research Unit of Pfizer (2003-2015) and Senior Group Leader at the SUGEN site of Pharmacia and Upjohn and SUGEN (1998-2003). He has played key leadership roles in delivering approximately 20 first-in-human drugs/new medical entities and several FDA-approved or soon-to-be approved drugs, including Lorbrena, Xalkori, Vizimpro, and Nirogacestat.

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For Cardiff Oncology (CRDF), the key risks to the business are primarily centered around its status as a clinical-stage biotechnology company with a limited pipeline.

  1. Clinical Trial Failure and Regulatory Approval Challenges: The most significant risk for Cardiff Oncology stems from the inherent uncertainties of clinical trials and the subsequent regulatory approval process. The company's valuation is heavily dependent on the successful progression and outcomes of its lead drug candidate, onvansertib, through various clinical phases, particularly the pivotal Phase 3 trials. There are no guarantees that future clinical trials will be completed successfully, demonstrate sufficient efficacy and safety, or lead to regulatory approval for any indication. Failures, delays, or unexpected side effects during these trials could severely impact the company's prospects and valuation.
  2. Need for Additional Financing and Financial Health: As a clinical-stage company without commercial product revenue, Cardiff Oncology relies on external funding to finance its extensive and expensive research and development activities and clinical trials. The company has reported negative operating and net margins, and its Altman Z-Score indicates a potential risk of bankruptcy. While it currently has a cash runway into Q1 2027, advancing onvansertib through late-stage clinical development, especially Phase 3, will necessitate substantial additional capital. The need for future capital raises could lead to dilution for existing shareholders.
  3. Reliance on a Single Lead Drug Candidate: Cardiff Oncology's business model is largely concentrated on the success of a single lead asset, onvansertib. Although the company is investigating onvansertib for multiple cancer indications (including metastatic colorectal cancer, prostate cancer, pancreatic ductal adenocarcinoma, small cell lung cancer, and triple-negative breast cancer), its pipeline lacks diversity with other approved or late-stage commercialized products. This single-asset dependency means that any significant setback or failure related to onvansertib could have a disproportionately severe impact on the company's overall viability and value.
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Cardiff Oncology (symbol: CRDF) operates in several significant addressable markets for its oncology drug candidates. The main products and their corresponding market sizes are detailed below, specifying the region for each market valuation.

Metastatic Colorectal Cancer (mCRC)

The global market for metastatic colorectal cancer treatment was estimated to be valued at approximately USD 10.95 billion in 2025 and is projected to reach USD 19.13 billion by 2032. Other estimates indicate the global market for metastatic colorectal cancer treatment was valued at USD 7.68 billion in 2025 and is predicted to grow to USD 19.86 billion by 2035. The market is driven by increasing incidence of colorectal cancer worldwide and advancements in targeted therapies and immunotherapy. In the United States, the mCRC market accounted for roughly 45% of the total market size across the seven major markets in 2024, which collectively exceeded USD 13 billion.

Solid Tumors

The global solid tumor therapeutics market reached an estimated USD 210.46 billion in 2024 and is projected to grow to USD 408.47 billion by 2033. Another estimate places the global solid tumor cancer treatment market size at USD 362.21 billion in 2024, with a projection to reach USD 1557.42 billion by 2032. The North American region holds a dominant position in this market. Specifically, the U.S. solid tumor therapeutics market reached USD 20 billion in 2022 and is expected to grow to USD 45 billion by 2028.

Leukemias

The global leukemia therapeutics market size was calculated at USD 20.23 billion in 2025 and is projected to reach around USD 42.90 billion by 2035. North America dominated the leukemia therapeutics market revenue shares in 2025. The U.S. leukemia therapeutics market was estimated at USD 7.23 billion in 2024 and is projected to reach USD 13.07 billion by 2033.

Metastatic Castration-Resistant Prostate Cancer (mCRPC)

The global metastatic castration-resistant prostate cancer therapeutics market size was valued at USD 21.04 billion in 2025 and is projected to grow to USD 91.85 billion by 2034. The market is expanding due to the rising prevalence of prostate cancer and increasing demand for treatment. The total mCRPC market size across the seven major markets (United States, EU4, and Japan) was estimated at nearly USD 6.8 billion in 2023. The United States accounted for approximately 64% of the total mCRPC market share within the 7MM in 2023, with its market alone valued at approximately USD 4.4 billion.

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1. Advancement of Onvansertib into Registrational Trials for First-Line RAS-Mutated Metastatic Colorectal Cancer (mCRC): Cardiff Oncology has reported positive Phase 2 clinical trial results for its lead drug candidate, onvansertib, in combination with standard of care for first-line RAS-mutated mCRC. The company plans to initiate a registrational program for onvansertib in this indication later in 2026, pending finalization of the trial design with the FDA. While widespread commercialization for onvansertib is anticipated beyond the 2-3 year timeframe, successful progression into and through registrational trials is expected to trigger significant milestone payments from existing or future strategic partnerships, contributing to revenue growth.

2. Expansion of Onvansertib's Clinical Indications: Beyond mCRC, onvansertib is also being evaluated in investigator-initiated studies for other cancers, including metastatic pancreatic ductal adenocarcinoma (mPDAC), small cell lung cancer (SCLC), triple-negative breast cancer (TNBC), and chronic myelomonocytic leukemia (CMML). Promising monotherapy clinical results for CMML were recently presented in December 2025. Positive clinical advancements in these additional indications are expected to open avenues for new development collaborations, licensing deals, or non-dilutive funding, thereby contributing to future revenue growth through upfront payments or milestone achievements within the 2-3 year period.

3. Strategic Partnerships and Collaborations: Cardiff Oncology has an existing collaboration with Pfizer, which includes a prior investment and the right of first access to data. As onvansertib and other pipeline candidates advance through clinical development, new or expanded strategic partnerships are anticipated. These collaborations are expected to generate revenue through upfront payments, research funding, and milestone payments tied to clinical, regulatory, and commercial achievements, providing crucial capital for further development and contributing to the company's revenue growth.

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Share Repurchases

Cardiff Oncology has not reported any significant share repurchase programs or activities in the last 3-5 years.

Share Issuance

  • The number of outstanding shares for Cardiff Oncology increased from 41.96 million in 2021 to 68.36 million in 2026, with a significant increase of 48.89% between 2023 (44.68 million) and 2024 (66.52 million).
  • In February 2025, Cardiff Oncology completed a $40 million underwritten registered direct offering, with participation from new and existing healthcare-dedicated investors, which strengthened its financial position.
  • Other financing activities contributed $53.8 million in 2024 and $35.5 million in 2021, likely including proceeds from share issuances.

Inbound Investments

  • The company received a $40 million investment from biotech specialist investors through an underwritten registered direct offering as of February 2025.

Outbound Investments

There is no available information indicating that Cardiff Oncology made any significant outbound investments in other companies or acquisitions in the last 3-5 years.

Capital Expenditures

  • Capital expenditures were relatively low, reported as -$0.1 million in 2024, -$0.6 million in 2023, and -$1.0 million in 2022.
  • In the last 12 months, capital expenditures were approximately -$44,000.
  • While specific future capital expenditures were not detailed, the company's operating expenses and cash usage are primarily focused on advancing its research and development priorities, particularly its lead clinical trial program for onvansertib.

Better Bets vs. Cardiff Oncology (CRDF)

Latest Trefis Analyses

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PGNY_3312026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312026PGNYProgynyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
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CNC_3272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03272026CNCCenteneDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
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2.3%2.3%-0.6%
OSCR_3272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03272026OSCROscar HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
3.0%3.0%-2.6%
WAT_3202026_Monopoly_xInd_xCD_Getting_Cheaper03202026WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-0.4%-0.4%-3.3%
GILD_3202026_Quality_Momentum_RoomToRun_10%03202026GILDGilead SciencesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
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1.6%1.6%-2.2%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

CRDFVRTXALPSDFTXEIKNGENBMedian
NameCardiff .Vertex P.ALPS Definium.Eikon Th.Generate. 
Mkt Price1.73437.670.9423.0811.6013.0312.31
Mkt Cap0.1111.0----55.6
Rev LTM112,001-0--1
Op Inc LTM-494,554--166---49
FCF LTM-383,194--132---38
FCF 3Y Avg-361,832--92---36
CFO LTM-383,631--132---38
CFO 3Y Avg-362,225--92---36

Growth & Margins

CRDFVRTXALPSDFTXEIKNGENBMedian
NameCardiff .Vertex P.ALPS Definium.Eikon Th.Generate. 
Rev Chg LTM-13.3%8.9%-----2.2%
Rev Chg 3Y Avg17.8%10.4%----14.1%
Rev Chg Q60.9%9.5%----35.2%
QoQ Delta Rev Chg LTM18.4%2.4%----10.4%
Op Inc Chg LTM-0.6%2,051.3%--60.0%---0.6%
Op Inc Chg 3Y Avg-7.2%644.7%--37.4%---7.2%
Op Mgn LTM-8,256.3%37.9%-----4,109.2%
Op Mgn 3Y Avg-8,224.9%24.7%-----4,100.1%
QoQ Delta Op Mgn LTM2,463.2%38.7%----1,251.0%
CFO/Rev LTM-6,395.1%30.3%-----3,182.4%
CFO/Rev 3Y Avg-6,078.4%20.5%-----3,028.9%
FCF/Rev LTM-6,398.1%26.6%-----3,185.8%
FCF/Rev 3Y Avg-6,123.0%17.0%-----3,053.0%

Valuation

CRDFVRTXALPSDFTXEIKNGENBMedian
NameCardiff .Vertex P.ALPS Definium.Eikon Th.Generate. 
Mkt Cap0.1111.0----55.6
P/S196.79.2----103.0
P/Op Inc-2.424.4----11.0
P/EBIT-2.423.8----10.7
P/E-2.528.1----12.8
P/CFO-3.130.6----13.7
Total Yield-39.3%3.6%-----17.9%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg-27.9%1.7%-----13.1%
D/E0.00.0----0.0
Net D/E-0.5-0.0-----0.3

Returns

CRDFVRTXALPSDFTXEIKNGENBMedian
NameCardiff .Vertex P.ALPS Definium.Eikon Th.Generate. 
1M Rtn-2.8%-3.0%-15.3%27.5%-0.9%4.1%-1.9%
3M Rtn-40.1%-5.1%-6.0%34.6%-22.7%3.0%-5.5%
6M Rtn-19.9%2.6%-1.0%70.8%-22.7%3.0%0.8%
12M Rtn-43.3%-10.8%-1.0%70.8%-22.7%3.0%-5.9%
3Y Rtn16.9%32.2%-1.0%70.8%-22.7%3.0%9.9%
1M Excs Rtn-11.3%-11.5%-23.8%19.1%-9.4%-4.4%-10.3%
3M Excs Rtn-44.0%-8.9%-9.8%30.8%-26.5%-0.8%-9.3%
6M Excs Rtn-30.1%-1.5%-7.0%64.9%-28.6%-3.0%-5.0%
12M Excs Rtn-77.0%-46.7%-39.4%32.5%-61.0%-35.4%-43.1%
3Y Excs Rtn-57.4%-38.4%-72.9%-1.1%-94.6%-68.9%-63.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Development of novel therapies across a range of cancers10   
Royalty revenues  000
Total10000


Price Behavior

Price Behavior
Market Price$1.73 
Market Cap ($ Bil)0.1 
First Trading Date07/27/2004 
Distance from 52W High-61.1% 
   50 Days200 Days
DMA Price$1.73$2.31
DMA Trenddowndown
Distance from DMA-0.2%-25.0%
 3M1YR
Volatility98.5%82.7%
Downside Capture1.131.33
Upside Capture-20.62132.91
Correlation (SPY)26.6%28.1%
CRDF Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta2.252.872.072.391.211.42
Up Beta1.834.977.454.650.831.17
Down Beta1.573.061.542.120.981.96
Up Capture286%374%-28%192%145%175%
Bmk +ve Days7162765139424
Stock +ve Days8162358115337
Down Capture237%164%206%175%155%108%
Bmk -ve Days12233358110323
Stock -ve Days11223562126370

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CRDF
CRDF-39.8%83.1%-0.22-
Sector ETF (XLV)12.0%15.9%0.5235.7%
Equity (SPY)26.7%12.5%1.7729.1%
Gold (GLD)38.9%27.4%1.190.3%
Commodities (DBC)23.5%16.2%1.32-9.5%
Real Estate (VNQ)15.6%13.6%0.8226.9%
Bitcoin (BTCUSD)-12.8%42.6%-0.2123.0%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CRDF
CRDF-28.0%99.2%0.11-
Sector ETF (XLV)5.6%14.6%0.2022.7%
Equity (SPY)10.5%17.1%0.4826.2%
Gold (GLD)21.5%17.8%0.993.2%
Commodities (DBC)10.7%18.8%0.471.2%
Real Estate (VNQ)3.6%18.8%0.0923.6%
Bitcoin (BTCUSD)3.8%56.4%0.2920.1%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CRDF
CRDF-42.0%105.9%-0.03-
Sector ETF (XLV)9.5%16.5%0.4618.7%
Equity (SPY)13.8%17.9%0.6620.4%
Gold (GLD)13.9%15.9%0.732.1%
Commodities (DBC)8.1%17.6%0.385.0%
Real Estate (VNQ)5.4%20.7%0.2315.7%
Bitcoin (BTCUSD)68.1%66.9%1.0711.7%

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Short Interest

Short Interest: As Of Date3312026
Short Interest: Shares Quantity17.9 Mil
Short Interest: % Change Since 31520262.9%
Average Daily Volume0.6 Mil
Days-to-Cover Short Interest32.3 days
Basic Shares Quantity67.4 Mil
Short % of Basic Shares26.6%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/2025-2.7%-4.4%7.1%
5/8/20251.1%4.6%46.8%
2/27/20254.4%-4.4%-19.0%
11/7/2024-24.7%-30.6%-40.3%
8/8/202411.7%12.2%8.5%
2/29/202464.9%98.9%224.6%
11/2/2023-2.6%-14.0%13.2%
8/9/20238.4%-1.0%-3.7%
...
SUMMARY STATS   
# Positive14713
# Negative6137
Median Positive5.7%14.8%13.2%
Median Negative-3.8%-5.8%-13.3%
Max Positive64.9%98.9%224.6%
Max Negative-24.7%-30.6%-40.3%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/24/202610-K
09/30/202511/06/202510-Q
06/30/202507/29/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/02/202410-Q
12/31/202302/29/202410-K
09/30/202311/02/202310-Q
06/30/202308/09/202310-Q
03/31/202305/04/202310-Q
12/31/202203/02/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q

Recent Forward Guidance [BETA]

Latest: Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2027 Cash Runway      

Prior: Q1 2025 Earnings Reported 5/8/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2027 Cash Runway