Kardigan, Inc. completed enrollment of 156 participants in its Phase 2b KATALYST-AV trial of ataciguat for aortic stenosis. The primary endpoint, aortic valve calcium, will be assessed at Week 48 alongside aortic valve area and measures of cardiac structure and function; the company will conduct an internal interim analysis at Week 24. The protocol amendment was made under blinded conditions, without review of unblinded efficacy data, and was not prompted by a safety finding.
A retrospective analysis of approximately 45,000 people with mild-to-moderate aortic stenosis found approximately 27% progressed rapidly, defined as an aortic valve area decline of at least 0.1 cm² per year. Patients with signs of cardiac damage on routine echocardiography were more likely to progress rapidly, and rapid progression predicted higher rates of valve replacement, hospitalization and worsening heart failure. The attached release expects Week 48 topline data in the second half of 2027, while the 8-K narrative separately says second half of 2026; the release also expects a Phase 3 plans update in the first half of 2027.
Kardigan, Inc. (KARD) director Kristin Marie K. Reinke received a grant of 48,368 stock options on September 29, 2026, covering 48,368 common shares at an exercise price of $14.66 per share. Her reported direct option position following the grant was 48,368 options. The options expire on September 29, 2036.
Kristin Marie K. Reinke is identified as a director of Kardigan, Inc.
Kardigan, Inc. is the issuer in an amended ownership disclosure in which Perceptive Advisors LLC and Joseph Edelman each report shared voting and dispositive power over 8,254,144 shares, or 8.8% of the common stock. The amount includes 2,460,195 shares held directly by Perceptive Life Sciences Master Fund, Ltd., 5,740,466 held directly by Perceptive Capital Solutions Holdings, and options for 53,483 shares held of record by former director Douglas Giordano, exercisable currently or within 60 days.
Giordano, a Managing Director at Perceptive Advisors, resigned from Kardigan's board on September 29, 2026. The ownership percentages use the issuer-reported 93,503,699 shares outstanding and assume exercise of Giordano's vested options.
Kardigan, Inc. (KARD) appointed Kristin Reinke as a Class I director, effective September 29, 2026. She will chair the Audit Committee through the 2027 annual meeting of stockholders, unless she earlier dies, resigns, or is removed. The board determined that Reinke is independent under Nasdaq Global Market listing standards and qualifies as a financial expert under SEC rules; David Meeker will remain on the committee.
Doug Giordano resigned from the board and Audit Committee on September 29, 2026. Reinke, currently Google’s vice president of finance, will receive an initial new director grant of non-qualified stock options valued at $650,000, plus cash compensation for board and committee service under Kardigan’s Non-Employee Director Compensation Policy.
Kardigan, Inc. has a significant shareholder, Tassos Gianakakos, who reports beneficial ownership of 10,470,294 shares of the company’s common stock as of June 30, 2026. This stake represents 11.1% of the outstanding common stock, based on 93,503,699 shares outstanding as of August 7, 2026. The position includes shares held directly, by several family trusts, by the reporting person’s spouse, and 663,661 stock options exercisable within 60 days of June 30, 2026. Gianakakos reports sole voting and sole dispositive power over all 10,470,294 shares and no shared voting or dispositive power.
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.