Cardiol Therapeutics (CRDL) TD Cowen 46th Annual Health Care Conference summary

Strategic focus and pipeline progress

• Targeting inflammation as a key mechanism in heart disease, with late-stage and early-stage programs addressing orphan and broader indications.

• MAVERIC, the lead program, is in phase III for recurrent pericarditis, with enrollment accelerating and top-line data expected in late 2026.

• ARCHER trial in myocarditis demonstrated the first biological impact by any medicine, supporting the MAVERIC program and opening new opportunities.

• All developments are fully funded through 2026–2027, with strategic alliances anticipated for commercialization.

• Expansion into heart failure and cardiomyopathies is planned, leveraging observed impacts on inflammation and fibrosis.

Clinical trial results and therapeutic advantages

• Phase II data showed rapid, durable pain reduction and recurrence prevention in pericarditis, with 71% of patients recurrence-free.

• CardiolRx is an oral, non-immunosuppressive therapy, offering a safer, more accessible alternative to current biologics and steroids.

• Significant reduction in C-reactive protein and pericarditis events per year observed, with effects sustained even after background medication withdrawal.

• Phase III MAVERIC trial design mirrors successful precedent, enrolling high-risk patients and aiming for significant recurrence reduction.

• Manufacturing and CMC are advanced, with commercial-scale production capabilities in place.

Market opportunity and positioning

• Immunosuppressants in pericarditis are nearing $1 billion in annual sales, but many patients lack suitable options.

• CardiolRx aims to be a competitively priced, oral, non-immunosuppressive second-line therapy, potentially displacing steroids and preceding IL-1 blockers.

• Physicians express strong interest in a non-immunosuppressive, accessible therapy to avoid long-term steroid and IL-1 blocker dependency.

• Strategic partnerships are being pursued for broader heart failure market entry, with CRD-38 as a once-monthly subQ formulation.

• Advisory and leadership teams include internationally recognized experts in cardiac inflammation and heart failure.