Cardiol Therapeutics Inc. shares rise 3.57% after-hours as Bayer extends partnership with Broad Institute for cardiovascular disease research.

Cardiol Therapeutics Inc. rose 3.57% in after-hours trading. The company's stock price increase may be attributed to the news that Bayer and the Broad Institute have extended their research collaboration to further advance findings in human genomics research in cardiovascular diseases. The expanded agreement will focus on joint precision cardiology target identification, leveraging the established human cardiomyocyte platform to rapidly validate observations, and discovery of novel therapeutic approaches. Current efforts are directed to develop potential treatment options for patients with specific forms of cardiovascular disease such as dilated cardiomyopathy (DCM), amongst others.