If you like micro-cap biotech plays with awesome potential driven by Ph 3 trial catalysts, CRDF (Cardiff Oncology) is worth adding to your watchlist.
They are targeting a huge, underserved market -- first-line RAS-mutated metastatic colorectal cancer (mCRC)... and recent readouts suggest their drug drastically beats standard-of-care and they call it "onvansertib".
They just completed a successful End of Ph 2 meeting with FDA. Phase 3 is targeted for Q1 2027.
Cash Balance: \~$34.5M at Q2 2026, plus an extra $10M raised via registered direct offering in July 2026.
Analyst PT is between $4.18 and $7.50.
There is one key thing happening in the background right now (dragging this down) - a legal dispute with NMS (Nerviano) - basically NMS believes there is an issue with patent inventorship. So, Cardiff licensed the drug back in 2017 from NMS and now that Cardiff is showing strong results it appears NMS is taking them to court because they didn't list NMS personnel on a Cardiff patent. NMS wants to terminate their agreement. So, on May 19, 2026, Cardiff took the offensive and filed a lawsuit against NMS in California. I won't get into the weeds here but based on alot of discussion it appears that NMS is using this as a negotiation tactic for their license agreement.
I got into this after seeing a very large $1M insider purchase (Gary Pace) recently. His cost average is roughly a buck and half-ish - we haven't even hit that yet. Today, on a red day for most penny stocks this one is up. All it needs is progress in court which could hit any day now - and I believe it's onward and upward from there.
Most believe this court case is all about negotiation economics - think about it... now that onvansertib looks like a genuine, high-value Ph 3 asset targeting a massive market, NMS’s original deal economics likely look tiny to them. So playing the joint inventorship card on newer patents is the only tool to force better deal.
On the patent dispute - the Cardiff folks say that the specific inventions covered by those two newer patents were conceived and developed exclusively by Cardiff people. Cardiff states that adding an NMS scientist would constitute filing false representations under oath to the USPTO, which would risk invalidating the patents.
Anyways, worth a watchlist add - at minimum.
