BUZZ-Cadrenal rises as blood clot drug cuts risk in mid-stage study
CVKD•Trial findings and next steps
The company said the trial showed a 50% rate of new or worsening clots in CAD-1005-treated patients versus more than 75% with placebo.
Cadrenal said the findings will help design a late-stage trial. CAD-1005 has orphan drug and fast-track status from U.S. and European regulators.
As of the last close, the biotech firm's stock was down about 57% year to date.
Cadrenal shares rise after mid-stage study results
Shares of Cadrenal Therapeutics CVKD.O rose 7.6% to $3.11 premarket after the company said its experimental drug CAD-1005 cut new or worsening blood clots by more than 25% versus placebo in a mid-stage study of heparin-induced thrombocytopenia, a rare immune reaction that can cause dangerous clots.
CAD-1005 is being developed for patients who develop blood clots after exposure to the blood thinner heparin.
