Roger Sidhu
Cardiff OncologyAbout Roger Sidhu
Roger Sidhu, MD, was appointed Chief Medical Officer of Cardiff Oncology on June 17, 2025, bringing over 20 years of oncology leadership, clinical development, and regulatory strategy experience, including leading Phase 3 trials of panitumumab (Vectibix) at Amgen and publications in the New England Journal of Medicine . He holds an MD from Queen’s University, a BS in biochemistry from the University of Alberta, and is a Fellow of the Royal College of Physicians and Surgeons of Canada in internal medicine and medical oncology; his training included the British Columbia Cancer Agency and Cross Cancer Institute . Company-level performance context: Cardiff reported Q2 2025 cash and investments of $71.0M with projected runway into Q1 2027 and net loss of $13.9M, with second-quarter updates including completion of enrollment and positive interim efficacy data in the CRDF-004 trial in first-line RAS-mutated mCRC . Historical TSR context: the proxy’s “Pay Versus Performance” shows a $100 investment value of $72 for FY2024 (vs. $25 in FY2023 and $23 in FY2022) and reported net losses of $45.4M, $41.4M, and $38.7M respectively .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Treadwell Therapeutics | Chief Medical Officer; Acting CEO | Not disclosed | Led clinical development; senior executive leadership |
| Amgen | Hematology/Oncology leadership roles (nearly 10 years) | ~10 years | Advanced multiple oncology candidates; led multiple Phase 3 panitumumab trials leading to global approvals |
| Kite Pharma (Gilead subsidiary) | VP, Clinical Development | Not disclosed | Post-acquisition clinical leadership after Cell Design Labs acquisition |
| Roivant Sciences | EVP & Chief Medical Officer | Not disclosed | Portfolio-level clinical strategy/execution |
| Eterna Therapeutics | Chief Medical Officer | Not disclosed | Clinical development leadership |
| Cell Design Labs | Chief Medical Officer | Not disclosed | CMO role prior to acquisition by Kite Pharma |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| New England Journal of Medicine (publication) | Author | Not disclosed | Peer-reviewed work advancing RAS biology and mCRC therapeutics |
| Academic/Training Institutions | Fellow, Internal Medicine & Medical Oncology (RCPSC); training at BCCA and Cross Cancer Institute | Not disclosed | Clinical credentials and specialty certification underpin oncology expertise |
| Public boards | None disclosed | — | — |
Fixed Compensation
| Component | Detail | Source |
|---|---|---|
| Base salary | Not disclosed | — |
| Target annual bonus % | Not disclosed | — |
| Actual bonus paid | Not disclosed | — |
| Inducement stock option grant | 600,000 non-qualified options granted June 16, 2025 at $3.86 strike (Nasdaq 5635(c)(4) inducement; outside 2021 Plan) | |
| Option vesting | 25% at 12 months from grant date (June 16, 2026), remaining 75% vests in equal monthly installments over the following 36 months, subject to continued employment |
Performance Compensation
Company-wide bonus framework and 2024 metrics (for context; Sidhu-specific metrics not yet disclosed):
| Metric Area | Weighting | Target (abbreviated) | Committee Assessment | Payout Earned |
|---|---|---|---|---|
| Onvansertib clinical program (enrollment, FDA interactions for dose & CRDF-005, CMC) | Core 65% | Enrollment and initial data update; complete clinical pharmacology and CMC for dose confirmation; FDA agreement on registrational trial design | Assessed on trial progress, FDA interactions, CMC progress | 50% of total target opportunity |
| Lifecycle management | Core 10% | FDA agreement and initiation of lifecycle-supportive clinical program | Assessed on progress | 10% of total target opportunity |
| Corporate activities | Core 25%; Stretch TSR goal 10% | Investor/partner engagement; maintain cash runway; TSR > 60th percentile of peer group | Assessed on interactions, balance sheet, TSR | 35% of total target opportunity |
Notes:
- Compensation Committee uses Aon as independent consultant; pays toward market-based pay-for-performance alignment and peer benchmarking .
- Company targets ~50th percentile for base salary; 50th–75th percentile for bonus targets; and ~60th percentile for long-term equity relative to peers (context, not Sidhu-specific) .
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Beneficial share ownership | Not disclosed for Sidhu in the 2025 proxy (joined after record date) | — |
| Options outstanding | 600,000 inducement options (strike $3.86; 10-year term implied by plan norms) | |
| Vesting schedule (press release) | 25% after 12 months; remaining monthly over 36 months | |
| Exercisable vs. unexercisable | Begins exercisability at first anniversary (June 16, 2026); monthly thereafter | |
| Shares pledged as collateral | No pledging disclosures for Sidhu; company insider policy prohibits hedging; pledging not disclosed | |
| Ownership guidelines | Not disclosed for executives in proxy; company emphasizes equity alignment and minimum vesting (≥1 year, with up to 5% exceptions) | |
| Clawback | Company clawback policy adopted in 2023 covering incentive compensation under restatement/misconduct conditions |
Employment Terms
- Appointment: Sidhu joined as CMO on June 17, 2025 ; the Q2 2025 report reiterates the appointment and role in advancing registrational strategy .
- Employment agreement terms: Not filed or disclosed for Sidhu as of the latest materials; prior CMO agreements (e.g., Kabbinavar) provide context on company norms—12 months base salary severance plus eligible bonus/benefits on termination without cause/good reason and double-trigger acceleration of unvested equity upon change-of-control scenarios (pending or post-close), but these terms are not confirmed for Sidhu .
- Equity plan governance: 2021 Plan highlights include no repricing without shareholder approval, no tax gross-ups, minimum vesting of 1 year (with limited exceptions), anti-hedging policy, and clawback; Sidhu’s grant was an inducement option outside the 2021 Plan pursuant to Nasdaq rules .
Company Performance Context (TSR and Net Loss)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Value of $100 investment based on TSR ($) | 23 | 25 | 72 |
| Reported Net Loss ($ thousands) | (38,704) | (41,441) | (45,431) |
Q2 2025 operating snapshot:
- Cash and investments: $71.0M; runway into Q1 2027 .
- Net loss: $(13,949) thousand; total operating expenses $14.9M; interest income $0.835M .
Clinical execution highlights under Sidhu’s remit:
- CRDF-004 Phase 2 first-line RAS-mut mCRC: confirmed ORR 49% for onvansertib 30mg vs 30% control in ITT (N=110); early PFS separation favoring 30mg; dose-dependent responses across ORR, ETS, DpR; safety generally consistent with chemo/bev backbones .
Investment Implications
- Compensation alignment and retention: The 600,000 inducement option grant with a 1-year cliff then monthly vesting over 36 months creates meaningful long-term alignment and retention hooks; the anti-hedging policy and clawback reduce misalignment risks . First exercisability milestone in June 2026 may create potential incremental liquidity/selling events typical of standard option schedules; no insider sales are disclosed in the materials reviewed.
- Execution risk vs. value creation: Sidhu’s track record in mCRC and leading Phase 3 programs (panitumumab) is a positive signal for advancing CRDF-004 into CRDF-005 registrational planning; interim efficacy signals (ORR/ETS/DpR) and early PFS trends support program momentum but remain subject to regulatory, clinical, and financing risks disclosed by the company .
- Change-of-control economics: While Sidhu’s agreement terms are not disclosed, company norms for NEOs include 12 months severance and double-trigger acceleration—investors should monitor for a filed employment agreement (Item 5.02) to confirm Sidhu’s specific severance and CoC provisions, which can materially impact retention and M&A dynamics .
- Shareholder-friendly governance: No repricing and no tax gross-ups under the 2021 Plan, plus minimum vesting and anti-hedging policy, are supportive of alignment and reduce red-flag risks; continued reliance on options vs. RSUs indicates higher at-risk, performance-levered equity for executives .
Key monitoring items: Filing of Sidhu’s employment agreement and any subsequent equity grants; Form 4 insider transactions; progression to FDA alignment on CRDF-005; cash runway vs. registrational trial funding plans; say-on-pay outcomes and peer group updates for 2026.
