Cadrenal Therapeutics Q2 net loss narrows as operating expenses fall
CVKD•Cash runway and funding outlook
Cadrenal said its current cash is expected to fund operations through Q1 2027.
The company said it does not plan to start clinical trials without sufficient funding in place and is seeking strategic partnerships and non-dilutive grants to advance its programs.
Analyst coverage and target price
The current average analyst rating on the shares is "buy," with 2 "strong buy" or "buy" recommendations, no "hold" ratings and no "sell" or "strong sell" ratings.
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Cadrenal Therapeutics Inc is $13.00, about 606.5% above its August 12 closing price of $1.84.
Quarterly results and cost trends
Cadrenal Therapeutics said its second-quarter net loss narrowed year over year as operating expenses declined.
The company said Q2 operating expenses fell, driven by reduced research and development and general and administrative costs.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Loss Per Share | $1.14 |
Clinical progress and partnering efforts
The company highlighted positive Phase 2 CAD-1005 data, which showed over a 25% reduction in thrombotic events.
Cadrenal also launched a strategic partnering process and said it is pursuing non-dilutive grants and out-licensing to fund development.
