Kardigan, Inc. (KARD) SEC Filings

Kardigan, Inc. common stock is reported as beneficially owned by Jay Edelberg in a Schedule 13G-style disclosure. As of June 30, 2026, Edelberg is deemed to beneficially own 4,878,105 shares of common stock, representing 5.2% of the class, based on 93,503,699 shares outstanding as of August 7, 2026. This position includes 135,544 shares held directly, 4,459,840 shares held by Edelberg Family Ventures, LLC, and 282,721 shares subject to stock options exercisable within 60 days of June 30, 2026. Edelberg reports sole voting and sole dispositive power over all 4,878,105 shares.

Kardigan, Inc., a clinical-stage cardiovascular therapeutics company, reported larger losses as it scaled up after its June 22, 2026 IPO. For the six months ended June 30, 2026, the company recorded a net loss of $172.3 million, compared with $75.5 million a year earlier, driven mainly by higher research and development expense of $101.4 million and a $43.5 million non-cash increase in the fair value of contingent milestone liabilities.

The IPO raised $422.4 million in net proceeds and converted all preferred stock into common stock, lifting total cash, cash equivalents and investments to $660.7 million and total assets to $721.8 million as of June 30, 2026. Management states this liquidity is expected to fund operations for at least twelve months from the financial statement issuance date, alleviating prior substantial doubt about going concern. Kardigan remains pre-revenue, investing heavily in its pipeline, its Prolaio data platform, and acquisitions to support precision cardiovascular drug development.

Kardigan, Inc. reported second quarter 2026 results and progress across three late-stage cardiovascular programs built on its Prolaio data platform. The company is running adaptive or Phase 2/3 trials for danicamtiv in genetic dilated cardiomyopathy, ataciguat in calcific aortic valve stenosis, and tonlamarsen in acute severe hypertension, with topline data for all three expected in the first half of 2027.

Kardigan completed an initial public offering in June 2026 with aggregate gross proceeds of $460 million, contributing to cash, cash equivalents and investments of $660.7 million as of June 30, 2026, up from $335.5 million at year-end 2025. This cash position is expected to fund multiple clinical data readouts and initiation of Phase 3 trials across the pipeline. Operating expenses rose sharply, including research and development of about $56.4 million versus $35.8 million a year earlier and a $43.5 million change in fair value of contingent milestone liabilities, driving a net loss of $116.2 million compared with $57.4 million in the prior-year quarter.

FMR LLC filed an amended Schedule 13G indicating beneficial ownership of COMMON STOCK of KARDIGAN INC. FMR LLC and Abigail P. Johnson each report beneficial ownership of 9,221,774 shares, representing 10.3% of the class. FMR LLC has sole voting power over 9,218,853 shares and sole dispositive power over 9,221,774 shares, with no shared voting or dispositive power reported. The filing states that one or more other persons have rights to receive dividends or sale proceeds from these shares, but no single such person has an interest exceeding five percent of KARDIGAN INC’s outstanding common stock.

FMR LLC reported beneficial ownership of 8,909,066 shares of Kardigan Inc common stock, representing 10.0% of the class as of June 30, 2026. FMR LLC has sole voting power over 8,906,145 shares and sole dispositive power over 8,909,066 shares, with no shared voting or dispositive power.

Abigail P. Johnson is also listed as a reporting person with sole dispositive power over the same 8,909,066 shares, but with no voting power. One or more other persons may receive dividends or sale proceeds from these shares, but no such person has an interest exceeding five percent of the outstanding common stock.

Entities affiliated with Perceptive Advisors reported an indirect acquisition of 20,706 restricted stock units (RSUs) tied to Kardigan, Inc. common stock. The RSUs are director compensation for Douglas E. Giordano’s board service and vest in full on June 17, 2028, subject to his continuous service. The reporting entities and Joseph Edelman may be deemed to have an indirect pecuniary interest through a management fee offset but disclaim beneficial ownership except to that extent.

Kardigan, Inc. Schedule 13G: HRTG-affiliated entities report beneficial ownership. HRTG GPE, LLC and its related funds report 16,917,034 shares of Common Stock beneficially owned, representing 18.2% of the class based on 93,089,121 shares outstanding as of June 22, 2026. The filing notes 14,866,868 shares held by HRTG PV, L.P. and 2,050,166 shares held by HRTG CIF 2024, L.P.

The filing excludes a warrant to purchase 876,040 shares held by HRTG PV that is exercisable on a cashless basis at an exercise price of $13.42 per share, with an exercise period that begins if the company achieves a valuation of $5,000,000,000.

ARCH Venture Fund XIII and affiliates have disclosed a major ownership position in Kardigan, Inc. on Schedule 13D. They beneficially own 15,042,035 shares of common stock, representing 16.2% of Kardigan’s 93,089,121 shares outstanding following the IPO.

ARCH accumulated its stake through multiple preferred stock financings that converted into common stock at the IPO, plus a June 22, 2026 purchase of 1,250,000 IPO shares at $16.00 per share. In total, ARCH reports paying $194,999,973.81 for these securities.

The fund also holds a warrant for 876,040 shares at an exercise price of $13.4135 per share, exercisable only once Kardigan reaches a $5.0 billion market valuation and expiring on September 4, 2035. ARCH has registration rights under an Investors’ Rights Agreement and is subject to a 180‑day IPO lock-up from June 17, 2026. The shares are held for investment, and ARCH may buy more or sell depending on future conditions.

Perceptive Advisors LLC and related entities report a significant stake in Kardigan, Inc. common stock. They disclose beneficial ownership of 8,254,144 shares, representing 8.9% of Kardigan’s outstanding common stock, including shares held by Perceptive Life Sciences Master Fund, Perceptive Capital Solutions Holdings LP and stock options tied to director Douglas Giordano’s board compensation.

The position largely arose when Series A Convertible Redeemable Preferred Stock automatically converted into 8,200,661 common shares in connection with Kardigan’s initial public offering. Perceptive’s funds have entered a 180‑day IPO lock‑up agreement restricting sales of common stock and related securities, while reserving flexibility over time to buy or sell shares based on market and company conditions.