Cardiff Oncology (NASDAQ: CRDF), a clinical-stage oncology therapeutics company developing drugs to treat cancers with the greatest medical need for new treatment options, recently announced the pricing of its previously announced underwritten public offering of 6,500,000 shares of its common stock at a public offering price of $13.50 per share. Cardiff Oncology anticipates receipt of approximately $88 million in gross proceeds from the offering, which is expected to close on or about October 2, 2020, subject to the satisfaction of customary conditions. The company has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares at the public offering price, less underwriting discounts and commissions. Cardiff Oncology intends to use the net proceeds for clinical development of its product candidate, onvansertib, as well as for working capital and other general corporate purposes.
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About Cardiff Oncology Inc.
Cardiff Oncology (formerly Trovagene Inc.) is a clinical-stage biotechnology company with the singular mission of developing new treatment options for cancer patients in indications with the greatest medical need. The company’s goal is to overcome resistance, improve response to treatment and increase overall survival. Cardiff Oncology is developing onvansertib, a first-in-class, third-generation Polo-like Kinase 1 (“PLK1”) inhibitor, in combination with standard-of-care chemotherapy and targeted therapeutics. Its clinical development programs incorporate tumor genomics and biomarker technology to enable assessment of patient response to treatment. Cardiff Oncology has three ongoing clinical programs that are demonstrating the safety and efficacy of onvansertib: a Phase 1b /2 study of onvansertib in combination with FOLFIRI/Avastin(R) in KRAS-mutated metastatic colorectal cancer (“mCRC”); a Phase 2 study of onvansertib in combination with Zytiga(R) (abiraterone)/prednisone in metastatic castration-resistant prostate cancer (“mCRPC”); and a Phase 2 study of onvansertib in combination with decitabine in relapsed or refractory acute myeloid leukemia (“AML”). For more information, please visit www.CardiffOncology.com.
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