Cadrenal Therape Stock Price, News & Analysis

Cadrenal Therapeutics (CVKD) highlighted a presentation at the EACTS Medical Congress featuring tecarfarin data and their proposed clinical trial protocol. The presentation, titled Tecarfarin and Hemocompatibility with LVAD Therapy (TECH-LVAD), focused on evaluating tecarfarin versus warfarin in patients with Abbott HeartMate3 left ventricular assist device. Dr. Mandeep R. Mehra presented data showing the relationship between bleeding rates and time in therapeutic range for HM3 patients, and evidence of tecarfarin's potential to improve TTR. The presentation also highlighted that end-stage kidney disease doesn't alter tecarfarin exposure, unlike warfarin, which is significant as many LVAD patients have kidney impairment.

Cadrenal Therapeutics (NASDAQ: CVKD) provided a Q3 2024 corporate update highlighting progress in developing tecarfarin, a new vitamin K antagonist for anticoagulation. Key developments include FDA discussions regarding Phase 3 trial protocol for LVAD patients, advancement of Abbott collaboration talks, and joining the Anticoagulation Forum's Corporate Council. The company successfully raised $9.8 million through ATM and warrant exercises, increasing cash balance to $11.3 million. Q3 operating expenses were $2.5 million, with $2.2 million used in operating activities. Tecarfarin is positioned as the only anticoagulant in development for patients with implanted cardiac devices and rare cardiovascular conditions.

Cadrenal Therapeutics (CVKD) announced the exercise of warrants to purchase 285,715 shares of common stock at a reduced price of $16.50 per share, down from the original $26.25. The company will issue new unregistered Series A-1 and A-2 warrants, each for 285,715 shares at $16.50 per share. The gross proceeds are expected to be $4.7 million, which will be used for pivotal Phase 3 trial and partnering activities. The new warrants will have terms of five years and eighteen months respectively, and the company will file a registration statement for the resale of shares.

Cadrenal Therapeutics (NASDAQ: CVKD) has successfully raised $5.1 million through an at-the-market (ATM) facility by selling 391,243 shares of common stock at an average price of $13.15 per share. Following this transaction, the company now has 1,496,771 shares outstanding and a cash balance of approximately $7.4 million. The funds will support the development of tecarfarin, a new vitamin K antagonist for patients with implanted cardiac devices or rare cardiovascular conditions, including preparation for a pivotal Phase 3 trial and ongoing partnering activities.

Cadrenal Therapeutics (Nasdaq: CVKD) has joined the Corporate Council of the Anticoagulation Forum (AC Forum), the largest professional organization of anticoagulation specialists. The company, which is developing tecarfarin, a new vitamin K antagonist for patients with implanted cardiac devices or rare cardiovascular conditions, will collaborate with AC Forum's 15,000 healthcare professional members to advance anticoagulation care quality and safety. This partnership aims to address unmet clinical needs, share research, and promote educational initiatives for improving patient outcomes on anticoagulants.

Cadrenal Therapeutics (Nasdaq: CVKD), a late-stage biopharmaceutical company developing tecarfarin, announced its participation in the Lytham Partners Fall 2024 Investor Conference. The virtual event will take place on Tuesday, October 1, 2024.

Key points:

• Cadrenal will deliver a webcast presentation at 2:00 pm ET
• The presentation will be accessible via the conference home page or a direct link
• Company management will participate in virtual one-on-one meetings with investors
• Investors can arrange meetings through Lytham Partners or by registering for the event

Tecarfarin is described as a new vitamin K antagonist designed to be a superior and safer chronic anticoagulant for warfarin-dependent patients with implanted cardiac devices or rare cardiovascular conditions.

Cadrenal Therapeutics (Nasdaq: CVKD) has announced an upcoming Type-B FDA meeting in September to discuss the clinical trial for tecarfarin in LVAD patients. Tecarfarin is a late-stage, next-generation Vitamin K Antagonist (VKA) oral and reversible anticoagulant designed to prevent heart attacks, strokes, and deaths due to blood clots in patients with implanted cardiac devices and rare cardiovascular conditions.

The company aims to address unmet needs in anticoagulation therapy, particularly for LVAD patients who face an increased risk of thromboembolic events. Tecarfarin has received orphan drug designation for thrombosis prevention in patients with ventricular assist devices, as well as orphan drug and fast-track designations for preventing systemic thromboembolism in patients with end-stage kidney disease and atrial fibrillation.

Cadrenal Therapeutics (Nasdaq: CVKD) highlighted a recently published manuscript in the Journal of Cardiac Failure, evaluating the relationship between time in therapeutic range (TTR) management quality and clinical outcomes for left ventricular assist device (LVAD) patients. The findings emphasize the need for improved anticoagulation therapy beyond warfarin to reduce gastrointestinal bleeding, a common complication in LVAD patients.

Key points:

• Tecarfarin, a novel vitamin K antagonist (VKA), may offer more stable and effective anticoagulation for LVAD patients
• A secondary analysis of the ARIES-HM3 trial showed a 47% reduction in bleeding risk for patients with a TTR above the median
• Lower TTRs were associated with threefold more sub-therapeutic INRs than supra-therapeutic INRs
• Cadrenal Therapeutics is developing tecarfarin as a late-stage, next-generation VKA oral and reversible anticoagulant

Cadrenal Therapeutics (Nasdaq: CVKD), a biopharmaceutical company developing tecarfarin, a late-stage anticoagulant, will participate in three upcoming investor conferences. The company's presentations will be available via webcast and include:

• Sidoti Micro-cap Virtual Conference on August 15, 2024, at 2:30 p.m. ET
• Summer 2024 Investor Summit Virtual Conference on August 20, 2024, at 3 p.m. ET
• Emerging Growth Conference on August 21, 2024, at 3:55 p.m. ET

Management will also participate in one-on-one institutional investor meetings at the Sidoti and Investor Summit conferences. Webcasts can be accessed through Cadrenal's investor relations website, with replays available after the events.