24/7 Market News Snapshot 10 December, 2024 – Cardiff Oncology, Inc. Common Stock (NASDAQ:CRDF)

December 10, 2024

DENVER, Colo., 10 December, 2024 (247marketnews.com) – (Nasdaq:CRDF) are discussed in this article.
Cardiff Oncology, Inc. (Nasdaq:CRDF), a leader in biotechnology focused on therapies through PLK1 inhibition, has recently captured investor attention with its significant stock performance. Currently trading at $3.263, shares increased by an impressive 33.73% from $2.440 in the previous session, with a trading volume reaching 7.85 million shares. This surge reflects strong market confidence and investor interest in the company’s future prospects.

The recent development includes the successful pricing of an underwritten offering of 15,384,619 shares at $2.60 per share, aiming to raise approximately $40 million in gross proceeds before underwriting expenses. The offering, which is expected to close around December 11, 2024, is primarily intended to fund clinical trials for Cardiff’s lead investigational drug, onvansertib, especially its application for first-line treatment in patients with RAS-mutated metastatic colorectal cancer (mCRC). Additionally, the capital will support general working capital and corporate expenses, reinforcing the company’s commitment to innovative cancer therapies.

The participation in this financing round showcases a blend of new mutual fund and healthcare-focused investors, alongside strong support from existing shareholders, underscoring confidence in Cardiff Oncology’s strategic vision. TD Cowen serves as the lead book-runner for the offering, with William Blair and H.C. Wainwright & Co. in supporting roles.

Conducted under a previously filed shelf registration statement with the U.S. Securities and Exchange Commission, a prospectus supplement detailing the offering will ensure regulatory compliance and transparency. Cardiff Oncology remains steadfast in its mission to develop cutting-edge therapeutic options that address critical needs in oncology, promising ongoing updates as they advance their innovative approaches to cancer treatment.

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