Why Cardiff Oncology Shares Were Up More Than 15% on Thursday

Cardiff Oncology (NASDAQ: CRDF), a clinical-stage oncology company, saw its shares climb more than 15% early Thursday. The stock closed at $5.23 on Wednesday, then opened at $6.03 on Thursday before climbing to as high as $6.29. As of 1:35 p.m. ET, it was trading up by 10.1% at $5.76.

Even with Thursday's surge, however, Cardiff stock is down by around 70% year to date, and is much closer to its 52-week low of $4.88 than its 52-week high of $25.50.

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Source Fool.com