Cardiff Oncology Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Cardiff Oncology (CRDF), a clinical-stage biotech company focused on PLK1 inhibition for cancer therapies, has granted stock options as an employment inducement. The company issued non-qualified stock options for 35,040 shares to one new employee on April 14, 2025.

The options were granted under Nasdaq Listing Rule 5635(c)(4) with an exercise price of $2.79 per share, matching Cardiff's closing stock price on April 14, 2025. The vesting schedule spans 4 years, with 25% vesting after the first year and the remainder vesting monthly over the following 36 months, contingent on continued employment.

SAN DIEGO, April 15, 2025 (GLOBE NEWSWIRE) -- Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, today announced that on April 14, 2025, non-qualified stock option awards to purchase an aggregate of 35,040 shares of its common stock were granted to one new employee. The stock options were granted as inducements material to the new employee becoming an employee of Cardiff Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $2.79 per share, which is equal to the closing price of Cardiff Oncology's common stock on April 14, 2025. Each option will vest over a 4-year period, with 25% of the shares vesting upon the 1-year anniversary of the date of grant and the remaining shares vesting monthly over the following 36-months, subject to the employee's continued employment with Cardiff Oncology on such vesting dates.

About Cardiff Oncology, Inc.

Cardiff Oncology is a clinical-stage biotechnology company leveraging PLK1 inhibition, a well-validated oncology drug target, to develop novel therapies across a range of cancers. The Company's lead asset is onvansertib, a PLK1 inhibitor being evaluated in combination with standard of care (SoC) therapeutics in clinical programs targeting indications such as RAS-mutated metastatic colorectal cancer (mCRC), as well as in ongoing and planned investigator-initiated trials in metastatic pancreatic ductal adenocarcinoma (mPDAC), small cell lung cancer (SCLC) and triple negative breast cancer (TNBC). These programs and the Company's broader development strategy are designed to target tumor vulnerabilities in order to overcome treatment resistance and deliver superior clinical benefit compared to the SoC alone. For more information, please visit https://www.cardiffoncology.com. 

Cardiff Oncology Contact:
James Levine
Chief Financial Officer
858-952-7670
jlevine@cardiffoncology.com 

Investor Contact:
Kiki Patel, PharmD
Gilmartin Group
332-895-3225
kiki@gilmartinir.com 

Media Contact:
Michael Laurer
Taft Communications
732-233-4881
michael.lauer@rfbinder.com

FAQ

What stock options did Cardiff Oncology (CRDF) grant on April 14, 2025?

Cardiff Oncology granted 35,040 non-qualified stock options to one new employee at an exercise price of $2.79 per share.

What is the vesting schedule for CRDF's April 2025 stock options grant?

The options vest over 4 years: 25% after the first year, with remaining shares vesting monthly over the following 36 months.

Under which Nasdaq rule did Cardiff Oncology issue the April 2025 stock options?

The stock options were granted under Nasdaq Listing Rule 5635(c)(4) as employment inducements.

What was Cardiff Oncology's (CRDF) stock price on April 14, 2025?

Cardiff Oncology's closing stock price was $2.79 on April 14, 2025.