Cardiol Therapeutics Completes $11.4 Million Financing, Extends Cash Runway into Q3 2027

Cardiol Therapeutics has completed a US$11.4 million financing, extending its cash runway into Q3 2027. The funds will support the MAVERIC Phase III trial of CardiolRx in recurrent pericarditis, as well as the development of next-generation therapy CRD-38 for heart failure. New data from the ARCHER trial, highlighting the reduction in left ventricular mass and heart failure implications, will be presented in November 2025.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) has successfully completed a private placement offering, raising US$11.4 million. The funds will support the company's pivotal Phase III MAVERIC trial for recurrent pericarditis and the development of CRD-38, a next-generation therapy for heart failure. The financing extends Cardiol's cash runway into the third quarter of 2027 Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027^[1].

The company sold 11.4 million units at a price of US$1.00 per unit, with each unit consisting of one Class A common share and one-half of one Common Share purchase warrant. The warrants can be exercised at US$1.35 per share for a period of 24 months, with an acceleration provision if the stock price exceeds US$2.00 for five consecutive trading days Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027^[1].

The proceeds from the offering will provide the necessary cash resources to support operations and clinical trials. The MAVERIC trial, which is currently recruiting patients across the U.S., aims to evaluate the efficacy of CardiolRx™ in treating recurrent pericarditis. The company also plans to advance CRD-38, a subcutaneously administered drug formulation for heart failure, based on the findings from the ARCHER trial Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027^[1].

The ARCHER trial, which focused on acute myocarditis, demonstrated a significant reduction in left ventricular mass, marking the first evidence of structural and remodeling improvement in patients with myocarditis. This finding supports the pursuit of an additional Orphan Drug Designation for CardiolRx™ in myocarditis and the advancement of CRD-38 Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027^[1].

The company's focus on developing anti-inflammatory and anti-fibrotic therapies for heart disease is aligned with the growing need to address the high mortality rates associated with heart failure. The ARCHER trial results will be presented in November 2025, further validating Cardiol's approach to treating inflammatory cardiac disorders Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027^[1].