10 Hot Biotech Stocks Under $5

6. Cardiff Oncology, Inc. (NASDAQ:CRDF)

Potential Upside: 204.96%

Number of Hedge Fund Holders: 13

Cardiff Oncology, Inc. (NASDAQ:CRDF) is a clinical-stage biotechnology company that develops precision medicines for hard-to-treat cancers. Its main drug, onvansertib, is an oral Polo-like Kinase 1 (PLK1) inhibitor targeting KRAS-mutated colorectal cancer (mCRC) and other tumors. The company has shown promising clinical results and has a solid regulatory plan.

As of December 31, 2024, Cardiff Oncology, Inc. (NASDAQ:CRDF) reported $91.7 million in cash and short-term investments, boosted by a recent $40 million raise. These funds extend its financial runway into the first quarter of 2027, ensuring support for ongoing trials. Cardiff also secured a new patent for onvansertib with bevacizumab in KRAS-mutated colorectal cancer, ensuring patent protection until at least 2043.

Cardiff Oncology, Inc. (NASDAQ:CRDF) is progressing with the CRDF-004 Phase 2 trial in first-line RAS-mutated mCRC. Data from December 2024 revealed a 64% objective response rate (ORR) with 30 mg onvansertib compared to just 33% in the control group. The deepest tumor shrinkage occurred in patients receiving the drug, establishing onvansertib’s efficacy. Screening has stopped, with a full enrollment of 90 patients expected soon.

Cardiff Oncology, Inc. (NASDAQ:CRDF) plans to meet with the FDA about its pivotal trial and optimal dosing. The company’s approach mirrors Pfizer’s BREAKWATER trial, which received accelerated approval for encorafenib in first-line mCRC. Recent lab data also suggest onvansertib might work for hormone-receptor-positive breast cancer.

With a clear path forward and impressive clinical momentum, Cardiff Oncology, Inc. (NASDAQ:CRDF) looks like a hot biotech stock for those seeking breakthrough cancer treatments.