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Cardiol Therapeutics (CRDL) investor relations material
Cardiol Therapeutics SEO filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and business model
Clinical-stage life sciences company focused on anti-inflammatory and anti-fibrotic therapies for heart diseases, with lead candidate CardiolRx (cannabidiol) in clinical development for recurrent pericarditis and acute myocarditis.
CardiolRx targets inflammasome pathway, implicated in inflammation and fibrosis in myocarditis, pericarditis, and heart failure.
Received FDA Orphan Drug Designation for pericarditis; planning to pursue similar designation for acute myocarditis.
Developing a novel subcutaneous cannabidiol formulation for heart failure, addressing a market with over $30 billion in annual US healthcare costs.
Financial performance and metrics
As of March 31, 2024: cash and cash equivalents of $28.6M, share capital of $151.1M, contributed surplus of $17.2M, and a deficit of $151.8M, with total capitalization at $20.1M.
Negative operating cash flow in recent years; ongoing need to fund negative cash flow from operations.
Use of proceeds and capital allocation
Net proceeds will be used for business objectives, general corporate purposes, working capital, debt repayment, capital programs, and potential acquisitions.
Key milestones: complete Phase II MAVERIC-Pilot study (H2 2024, $500K), Phase III pericarditis study (TBD, $20M), complete Phase II ARCHER trial (H1 2025, $5M), initiate Phase III ARCHER trial (TBD, $10M), and advance CRD-38 program.
Estimated $2–2.5M per quarter in general and administrative costs, with sufficient resources for near-term milestones.
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