Gary W. Pace, a director at Cardiff Oncology, Inc. (NASDAQ: CRDF), has executed a significant purchase of the company's common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, dated June 18, 2026, involved Mr. Pace acquiring 30,000 shares at a price of $1.22 per share, totaling $36,600. This acquisition brings his direct ownership stake to 1,356,376 shares. The Form 4 report documenting this activity was filed on June 22, 2026.
The purchase occurs against a backdrop of recent downward pressure on Cardiff Oncology's stock, which has traded near its 52-week low of $1.16. Over the past week, the stock has declined nearly 15%, and over the last six months, it has fallen by 59%. Despite these declines, InvestingPro analysis indicates that the stock may be undervalued at current levels, with an estimated fair value of $1.40.
In other developments, Cardiff Oncology has reported positive results from its CRDF-004 Phase 2 clinical trial. The trial evaluated onvansertib in combination with standard treatments for patients with first-line RAS-mutated metastatic colorectal cancer. These findings were presented at the American Society of Clinical Oncology Annual Meeting. The trial focuses on onvansertib combined with standard chemotherapy regimens in patients with specific types of colorectal cancer.
However, Cardiff Oncology faces challenges as Nerviano Medical Sciences has moved to terminate a key license agreement concerning onvansertib, alleging a breach of license obligations. This development has prompted H.C. Wainwright to downgrade Cardiff Oncology from Buy to Neutral, removing its 12-month price target. Similarly, TD Cowen downgraded the stock to Hold from Buy, citing the licensing dispute as a reason.
Cardiff Oncology plans to host an investor webcast to discuss updated trial data on June 3, 2026. The updated data will also be presented at the American Society of Clinical Oncology Annual Meeting.