Cardiff Oncology Inc (NASDAQ: CRDF) is up approximately 15 per cent on Wednesday trading based on a mix of positive financial results from its Q4 2024 and year end 2024 results, and the ongoing developments regarding its product, onvansertib, which targets metastatic colorectal cancer (mCRC).
Cardiff Oncology is a clinical-stage biotechnology company focused on developing cancer therapies. Furthermore, it operates in a sector known for rapid price swings tied to clinical trial updates, regulatory milestones, or market trends.
Also, the biotech industry is also typically tracked by indices like the IBB and XBI. It’s been under scrutiny in early 2025 amid broader economic uncertainty and tariff-related concerns affecting U.S. markets.
However, individual biotech stocks often decouple from macro trends when company-specific developments or investor enthusiasm take center stage. Wednesday’s surge could reflect a breakout from this broader volatility, with Cardiff capitalizing on its niche in oncology research.
“2024 was a significant year for Cardiff Oncology as we shared positive data from the first 30 patients in our lead program in first-line RAS-mut mCRC,” said Mark Erlander, CEO of Cardiff Oncology.
In its latest Phase 2 trial (CRDF-004), Cardiff reported that patients receiving the 30mg dose of onvansertib showed a 64 per cent objective response rate. Additionally, this was nearly double the 33 per cent response rate in the control group.
The company also secured a new U.S. patent for the use of onvansertib in combination with bevacizumab (bev) for previously untreated KRAS-mutant mCRC patients. This adds long-term value to its intellectual property.
$CRDF This growing short position in @CardiffOncology is more than "unheathy" for bears. It's become outright "suicidal" as the next data dump will "crowd them out". Consider it kindling for the fire $IBB $XBIhttps://t.co/nyqvaaZfcu
— The North Star (@TheNorthStar5) March 12, 2025
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Social media may be adding influence on the stock
Additionally, social media chatter may be stoking interest in the stock.
A post early this morning from x-user, @TheNorthStar5 suggests that a growing short position in the stock has become “suicidal” for bearish investors. The hint here is an impending short squeeze.
The user pointed to an upcoming “data dump” as a trigger that could force short sellers to cover their positions. While this claim lacks official confirmation, it reflects a bullish sentiment that may be fuelling speculative buying. In the volatile world of biotech stocks, such narratives can quickly gain traction and influence short-term price action.
Furthermore, high short interest—a situation where many investors are betting against the stock—give impetus to @Thenorthstar5’s earlier claim that short sellers may be buying back shares to limit losses.
This dynamic, combined with increased trading volume, could be propelling Cardiff Oncology higher on Wednesday.
Additionally, Cardiff presented at the TD Cowen 45th Annual Healthcare Conference last week, discussing its strategic shift in clinical development. The company decided to focus on advancing onvansertib from a second-line to a first-line treatment for RAS-mutated metastatic colorectal cancer.
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