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.
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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.