Cardiff On­col­o­gy is join­ing the league of com­pa­nies that have de­cid­ed to scrap one of its pro­gram, lead­ing the com­pa­ny’s stock to take a nose dive on Tues­day.

The com­pa­ny an­nounced that it will no longer fund its clin­i­cal tri­als for prostate can­cer and in­stead will fo­cus its ef­forts on pan­cre­at­ic and metasta­t­ic col­orec­tal can­cer.

The com­pa­ny is test­ing its lead can­di­date, on­va­nsert­ib, a PLK1 in­hibitor, along with the stan­dard of care in a va­ri­ety of in­di­ca­tions.

“Fol­low­ing a strate­gic re­view of its clin­i­cal da­ta in metasta­t­ic cas­trate-re­sis­tant prostate can­cer (mCR­PC), as well as the cur­rent and pro­ject­ed ther­a­peu­tic land­scape in this in­di­ca­tion, the com­pa­ny has de­cid­ed it will not in­de­pen­dent­ly fund any fu­ture clin­i­cal ac­tiv­i­ties in mCR­PC,” the com­pa­ny said in a press state­ment.

In Feb­ru­ary of 2021, the com­pa­ny pre­sent­ed Phase II da­ta on the mCR­PC Tri­al show­ing a two-fold in­crease in ef­fi­ca­cy with on­va­nsert­ib when the num­ber of days of treat­ment with the drug was in­creased from five to 14 in a 21-day cy­cle.

Next up, the com­pa­ny is plan­ning a ran­dom­ized Phase II tri­al to eval­u­ate the safe­ty and ef­fi­ca­cy of on­va­nsert­ib in com­bi­na­tion with stan­dard-of-care, which is FOLFIRI/be­va­cizum­ab, in sec­ond-line KRAS/NRAS-mu­tat­ed cas­es of metasta­t­ic col­orec­tal can­cer. The study, called ON­SEM­BLE, will en­roll 150 pa­tients, with the pri­ma­ry end­point be­ing the ob­jec­tive re­sponse rate.

The San Diego-based com­pa­ny ex­pects the tri­al to start in Q4 2022, with topline da­ta ex­pect­ed in the sec­ond half of 2024. The com­pa­ny be­lieves that the da­ta may pave the way for ac­cel­er­at­ed ap­proval for the drug in mCRC.

Mean­while, the com­pa­ny al­so shared da­ta from its on­go­ing Phase 1b/II tri­al in KRAS-mu­tat­ed metasta­t­ic col­orec­tal can­cer which showed durable re­spons­es, with a me­di­an du­ra­tion of re­sponse of 11.7 months for all dos­es and 12.5 months for the rec­om­mend­ed Phase II dose.

The com­pa­ny shares $CRDF plum­met­ed 40% on Tues­day.

A lot of com­pa­nies have been ta­per­ing their pipelines as cost-cut­ting mea­sures. Ru­bius Ther­a­peu­tics an­nounced yes­ter­day that it had de­cid­ed to scrap two of its lead­ing pro­grams in sol­id tu­mors.

Cardiff, how­ev­er, said its cash re­serves will fund the com­pa­ny op­er­a­tions in­to 2025.

DC District Court Judge Christopher Cooper today granted Vanda Pharma’s request to require the FDA to disclose more info on the complete response letter for its sleep disorder drug Hetlioz.

The melatonin receptor agonist is approved by the FDA to treat non-24-hour sleep-wake disorder, a circadian rhythm disorder. But in 2018 Vanda filed a supplemental application to market Hetlioz as a treatment for jet lag, which the FDA rejected in August 2019, with few details on what Vanda needed to correct course, according to the company.

Codiak BioSciences has filed for Chapter 11 bankruptcy, spelling an end to the employment of most executives, including founder Doug Williams, as the biotech says it “expects to consummate a sale.”

The eight-year journey at Codiak is nearing an end with Williams; CFO Linda Bain; medical chief David Mauro; scientific head Sriram Sathyanarayanan; legal and compliance chief Yalonda Howze; and SVP of HR Nicole Barna all packing up their bags in the first few days of April. Chief technology officer Konstantin Konstantinov will stay.