Jefferies initiated coverage of Cardiff Oncology (CRDF) with a Hold rating and $3.50 price target The company’s onvansertib has shown promising early data in 1L RAS mutations metastatic colorectal cancer, but the data are early and the drug’s mechanism of action is risky with prior failed studies, the analyst tells investors in a research note. The firm believes catalysts for rest of year may not provide adequate efficacy insight. It plans to reassess the Hold rating post the July 29 data update.
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