William Blair downgrades Cardiff Oncology stock rating on rights uncertainty

William Blair recently downgraded Cardiff Oncology's stock rating to Market Perform from Outperform due to deteriorating fundamentals and uncertainty surrounding onvansertib rights. The firm highlighted Cardiff's negative cash flow and need to raise additional capital before initiating a Phase III study. Despite reporting positive results from its Phase 2 clinical trial for RAS-mutated metastatic colorectal cancer, Cardiff faces challenges from H.C.

Wainwright and TD Cowen downgrading their stock ratings due to a termination of a key license agreement. Cardiff Oncology plans to host an investor webcast to discuss updated trial data at the American Society of Clinical Oncology Annual Meeting.

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