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MAVERIC Phase III pivotal trial of orphan drug candidate CardiolRx™ in recurrent pericarditis is fully funded through to a planned New Drug Application submission with the FDA.
New data from the ARCHER trial, highlighting the magnitude of reduction in left ventricular (LV) mass and the read through to heart failure, to be presented at a cardiology conference in November 2025.
Next-generation therapy CRD-38 for heart failure funded through to clinical development, with partnership discussions advancing with leading pharmaceutical companies.
Toronto, Ontario--(Newsfile Corp. - October 17, 2025) - Cardiol Therapeutics Inc. (NASDAQ:CRDL) (TSX:CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease, today announced the successful completion of a private placement offering (the "Offering") of units ("Units") for net proceeds of US$11 million. The initial closing of US$10 million has been completed, with the remaining US$1 million to close on Monday, October 20, 2025.
Under the Offering, the Company sold a total of 11 million Units at a price of US$1.00 per Unit. Each Unit consists of one Class A common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at an exercise price of US$1.35 for a period of 24 months from the date of issuance. The warrants include an acceleration provision, allowing the Company to advance their expiry to the 30th day following the issuance of a news release if the daily volume-weighted average trading price of the Common Shares exceeds US$2.00 for five consecutive trading days. Proceeds from the Offering provide cash resources that are anticipated to support operations into the third quarter of 2027.
Posted In: CRDL
