Why Shares of Cardiff Oncology Rose on Monday
Cardiff Oncology (NASDAQ: CRDF) , a clinical-stage biotech company specializing in new cancer treatments, saw its share price rise as high as $7.18 on Monday. It closed the day at $6.74, up about 7% from its previous close.
Over the past year, the stock's per-share price has ranged from $4.88 to as high as $25.50. On Friday, investors learned that the company's CFO, James E. Levine, bought 30,000 shares of the stock at $6.47 a share.
The company also presented positive phase 1b/2 trial news last week regarding onvansertib, its lead pipeline candidate. The drug is being tested with a chemotherapy drug combination called FOLFIRI and a non-chemotherapeutic drug called Avastin (bevacizumab). Combined with FOLFIRI and Avastin, onvansertib is showing promise as a second-line treatment option for patients with KRAS-mutated metastatic colorectal cancer.
Source Fool.com
