Friday, May 09, 2025
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First Quarter Was Highlighted By The Collaboration With Abbott. Cadrenal Therapeutics reported a 1Q25 loss of $3.8 million or $(2.09) per share. An important development during the quarter was an agreement with Abbott to develop tecarfarin in LVADs (Left Ventricular Assist Devices). As planned, the company held a meeting with the FDA to discuss the next steps for clinical development of tecarfarin, its anticoagulant. Cash on March 31, 2025 was $7.3 million.
Meeting For Clinical Development Guidance Held With FDA. Cadrenal and the FDA held a meeting to discuss plans to conduct clinical trials to support an application for tecarfarin approval. The FDA gave guidance on the design and data requirements. Cadrenal plans to use the information to plan the final study design then submit it to the FDA for review and feedback.
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