Cardiff Oncology Stock Rises After $15M Equity Investment From Pfizer

  • Pfizer Inc PFE has made a $15 million equity investment in Cardiff Oncology Inc CRDF as part of the Pfizer Breakthrough Growth Initiative.
  • Pfizer purchased 2.4 million shares of Cardiff Oncology's shares at $6.22 per share.
  • Related: Why Are Investors Cheering Cardiff Oncology's New Data In Colorectal Cancer Setting?
  • Cardiff will use the proceeds to advance its ongoing clinical programs in KRAS-mutated metastatic colorectal cancer, metastatic pancreatic ductal adenocarcinoma, and metastatic castrate-resistant prostate cancer and support onvansertib's development in additional indications. 
  • Additionally, the company has agreed to grant Pfizer rights of first access to data from its development programs.
  • Price Action: CRDF shares are up 14.3% at $5.98 during the premarket session on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechLong IdeasNewsHealth CareFinancingMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!