Cardiff Oncology sinks on direct equity offering

Cardiff Oncology

15/07/2026 14:10

** Cardiff Oncology's CRDF.O shares sink 30.5% to record low 91 cents premarket after $10 mln equity raise
** CRDF says it sold ~8.57 mln shares and accompanying warrants at $1.05 in registered direct offering
** In addition, co says certain insiders and directors to buy 731,707 shares and warrants at $1.435
** Co intends to use net offering proceeds for working capital and general purposes
** H.C. Wainwright sole placement agent
** San Diego, California-based CRDF had roughly $90 mln market cap prior to offering
** CRDF stock closed down 3% at $1.31 on Tues, down 53% YTD
** Stock plunged 32% on Jan 27 after its then CEO and CFO stepped down
** 4 of 8 analysts rate the stock "strong buy" or "buy", 4 "hold"; median PT $7.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))