Cardiol Therapeutics Secures Funding with USD 11.4 Million Private Placement

Cardiol Therapeutics Inc. has successfully raised USD 11.4 million through a private placement, thus extending its financial runway until the third quarter of 2027. This strategic move ensures the complete funding of the pivotal MAVERIC phase III trial for recurrent pericarditis and provides resources for the development of CRD-38, a next-generation heart-failure therapy. This financial boost also facilitates preparations for a New Drug Application (NDA) submission to the FDA.

Analyst Christian Orquera of First Berlin Equity Research maintains a 'BUY' rating for Cardiol Therapeutics, with an unaltered price target of USD 8.50. The significant reduction in left-ventricular mass observed in the ARCHER phase II acute myocarditis trial is set to be presented at an upcoming cardiology conference in November 2025—an event that could prove pivotal for the company.