Business
Cardiff Oncology Announces Private Placement Investment by Board of Directors and Chief Executive Officer
SAN DIEGO, May 19, 2020 /PRNewswire/ -- Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage oncology therapeutics company developing drugs to treat
About this update from Cardiff Oncology, Inc.
[{"type":"text","content":"SAN DIEGO, May 19, 2020 /PRNewswire/ -- Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage oncology therapeutics company developing drugs to treat cancers with the greatest medical need for new treatment options, including KRAS-mutated colorectal cancer, Zytiga®-resistant prostate cancer and leukemia, today announced it has entered into a securities purchase agreement with its Board of Directors and its Chief Executive Officer pursuant to which it sold 594,615 shares of Common Stock for gross proceeds of $810,000.\n\n \n \n \n \n \n \n\n \nCardiff Oncology intends to utilize the proceeds of this private placement to help advance its ongoing clinical development programs in KRAS-mutated metastatic colorectal cancer (mCRC), Zytiga-resistant metastatic castration-resistant prostate cancer (mCRPC) and relapsed or refractory acute myeloid leukemia (AML).\n\"We are grateful for the support that our Board is providing to us,\" said Dr. Mark Erlander, Chief Executive Officer of Cardiff Oncology. \"Our focus is on advancing the clinical development of onvansertib in cancer indications representing the greatest medical need for new, safe and effective treatment options for patients.\"\nAbout Cardiff Oncology, Inc.\nCardiff 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. Our goal is to overcome resistance, improve response to treatment and increase overall survival. We are developing onvansertib, a first-in-class, third-generation Polo-like Kinase 1 (PLK1) inhibitor, in combination with standard-of-care chemotherapy and targeted therapeutics. Our clinical development programs incorporate tumor genomics and biomarker technology to enable assessment of patient response to treatment. We have 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® in KRAS-mutated metastatic colorectal cancer (mCRC); a Phase 2 study of onvansertib in combination with Zytiga® (abiraterone)/prednisone in Zytiga-resistant 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...