Cardiff Oncology Rakes In Over 200% Gain In 3 Months

(RTTNews) - Shares of Cardiff Oncology Inc. (CRDF) touched a new high of $16 in intraday trading on Sep.30, and that represents a gain of over 220 percent in 3 months, after our premium stock alert. The stock closed yesterday's (Oct.1) trading at $13.62, down 4.02%.

Our premium stock report on CRDF titled "Can Onvansertib Turn the Tide on Cancer" was published on July 1, 2020, when the stock was trading around $4.95. The tide has for sure turned in favor of investors in Cardiff stock.

The company's lead drug candidate is Onvansertib that selectively targets Polo-like Kinase 1 (PLK1), an enzyme that is overexpressed in most cancers and is considered an attractive target for cancer therapy.

The ongoing trials with Onvansertib are:

-- A phase Ib/II trial of Onvansertib in combination with FOLFIRI/Avastin as a second-line treatment of KRAS-mutated metastatic colorectal cancer.

-- A phase II trial of Onvansertib in combination with Zytiga for the treatment of patients with Zytiga-resistant metastatic castration-resistant prostate cancer. A phase II trial of Onvansertib in combination with Decitabine in relapsed/refractory acute myeloid leukemia.

News that Mattered

On September 17, the company presented encouraging data from the ongoing phase Ib/II trial of Onvansertib in combination with FOLFIRI/Avastin as a second-line treatment of KRAS-mutated metastatic colorectal cancer. The stock rose as much as 92% that day to an intraday high of $11.18 and closed at $8.11, following the compelling preliminary efficacy data.

On September 29, the company priced its previously announced underwritten public offering of 6.5 million shares of its common stock at a public offering price of $13.50 per share. The offering, which is expected to close on October 2, is expected to bring in gross proceeds of roughly $88 million. As of June 30, 2020, Cardiff Oncology had approximately $27.8 million in cash and cash equivalents and $2.8 million in clinical trial funding commitments.

Catalysts:

-- Efficacy data from the phase II trial of Onvansertib in combination with Decitabine in relapsed/refractory acute myeloid leukemia is expected to be presented in December 2020.

-- Updated data from the ongoing phase Ib/II trial of Onvansertib in combination with FOLFIRI/Avastin as a second-line treatment of KRAS-mutated metastatic colorectal cancer is expected to be presented at the ASCO Gastrointestinal Cancers Symposium in January 2021.

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