Cardiol Therapeutics shares rise 10.07% after-hours after announcing $13.5M bought deal financing for heart disease programs.

Cardiol Therapeutics surged 10.07% in after-hours trading following the announcement of a $13.5 million bought deal private placement led by Canaccord Genuity Corp. The financing involves 10,384,616 units priced at $1.30 (a 35% premium to the prior close of $0.96), with each unit including one common share and one-half warrant exercisable at $1.75. Proceeds will advance clinical programs for CardiolRx, including the pivotal Phase III MAVERIC trial for recurrent pericarditis and the Phase II ARCHER trial for acute myocarditis, as well as general corporate needs. The deal, priced at a premium and structured with a 10% over-allotment option, signals strong underwriter confidence and provides critical capital for the company’s late-stage pipeline, including its FDA-orphan-designated therapy. The after-hours rally reflects investor optimism about the funding’s potential to accelerate development milestones and bolster liquidity.