Cardiff Oncology prices $10 million registered direct offering

Cardiff Oncology, Inc. (Nasdaq: CRDF) announced on July 15, 2026 that it entered into definitive agreements to sell an aggregate of 8,571,429 shares of common stock and accompanying warrants to purchase up to 8,571,429 shares, at a purchase price of $1.05 per share and accompanying warrant in a registered direct offering.¹

Company insiders are also participating. According to the 8-K filing, the company entered into a purchase agreement with certain officers and directors to sell them 721,649 shares of common stock and 721,649 accompanying common warrants, at a purchase price of $1.455 per insider share and accompanying warrant¹ (the press release cited a slightly different insider figure of 731,707 shares at $1.435 per share).

The common warrants carry an exercise price of $1.31 per share ($1.33 for insiders), become exercisable on the later of six months after issuance or the date the company's authorized share count is increased following stockholder approval, and have a five and one-half year term from the initial exercise date.¹ The company agreed to file a proxy statement within 45 days of closing to seek that stockholder approval, and to call a meeting every 60 days thereafter until approval is obtained or the warrants are no longer outstanding.¹

The offering closed on July 16, 2026, with gross proceeds of approximately $10.05 million before fees.¹ The company intends to use net proceeds for working capital and other general corporate purposes.¹

H.C. Wainwright & Co. acted as exclusive placement agent¹, earning a 7.0% cash fee on gross proceeds plus a warrant to purchase up to 5.0% of the shares sold, or 465,157 shares, at an exercise price of $1.3125 per share, equal to 125% of the offering price.¹

Cardiff Oncology is evaluating its lead asset, onvansertib, an oral PLK1 inhibitor, in a Phase 2 trial for first-line treatment of RAS-mutated metastatic colorectal cancer.¹