Piper cuts Cardiff's PT on shift in focus from prostate cancer therapy

Cardiff Oncology

13/09/2022 12:05

** Shares of Cardiff Oncology  CRDF.O  fall as much as ~21%
to $2.54 before the bell 
    ** Piper Sandler cuts CRDF price target to $5 from $7, after
biotech co said it would stop independently funding future
trials for prostate cancer treatment  urn:newsml:reuters.com:*:nPn2kFp9la 
    ** Brokerage says CRDF's move towards prioritizing
onvansertib as a colorectal cancer treatment seems "logical" 
    ** Piper Sandler says CRDF's mid-stage colorectal cancer
study design could be supportive of an accelerated filing for
its cancer therapy onvansertib 
    ** Adds timeline for data readout of colorectal cancer study
for H2 2024 can be viewed as "frustratingly long" 
    ** All five brokerages covering the stock rate it "buy" or
higher; their median PT is $6 
    ** As of last close, stock down ~47% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))