William Blair initiated research coverage of Cardiff Oncology, Inc. (CRDF $6.43), a clinical-stage biotechnology company that leverages deep insights into synthetic lethality through PLK1 inhibition in cancers. The company is advancing three clinical programs in parallel in colorectal, prostate, and pancreatic cancer.
Analyst Andy Hsieh said, “Cardiff is developing onvansertib, a specific PLK1 inhibitor, which we view as a highly differentiated oncology asset. By modulating PKL1’s activity, onvansertib can prevent repair of damaged DNA and arrest cell division, thereby promoting tumor cell death. The widely applicable mechanism of action permits multiple cancer indications to be simultaneously explored with a single compound, offering investors diversification while maintaining focus on development paths with the optimal probability of success. Although onvansertib is not the first PLK1 inhibitor to be developed, we believe it is differentiated on the basis of high specificity for PLK1 over PLK2 and PLK3—thus reducing off-target effects. We also highlight onvansertib’s oral formulation and relatively short half-life, both of which will support flexible dosing regimens and more streamlined adverse-event management protocols.”
Dr. Hsieh continued, “The lead program focuses on colorectal cancer, a growing market driven by increased incidence among younger patients. For prostate cancer, the increased utility of novel hormone agents in the nonmetastatic and castration-sensitive setting creates a treatment void, and onvansertib stands to benefit from the changing paradigm. Lastly, for pancreatic cancer, there have been no material therapeutic improvements in decades, and we are cautiously optimistic that the KRAS-driven nature of the disease could help Cardiff break that dismal trend with onvansertib. The three indications together represent total addressable markets of over $7.1 billion in the United States, $4.4 billion in Europe, and $1.3 billion in Japan.”
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