On November 7, 2024, Cadrenal Therapeutics, Inc. (CVKD) announced financial results for the third quarter of 2024 and provided a business update. The company recently raised approximately $9.8 million, which included $5.1 million raised through its at-the-market (ATM) facility and $4.7 million through warrant exercises. Cadrenal recently met with the FDA to discuss the protocol for the planned Phase 3 clinical trial of tecarfarin in left ventricular assist device (LVAD) patients and those discussions are continuing. The company has also advanced collaboration discussions with Abbott regarding the planned Phase 3 trial in patients with the Abbott LVAD HeartMate 3, the only LVAD available in the U.S. Lastly, Cadrenal completed the activities necessary to supply clinical trial materials with its contract manufacturer in preparation for the initiation of the Phase 3 trial, which we anticipate starting in 2025.
