Core Viewpoint - Cardiol Therapeutics Inc. has successfully completed a private placement of units, raising a total of $14.85 million to support its research and clinical development programs for heart disease therapies [1][3]. Financing Details - The company issued 11,423,078 units at a price of $1.30 per unit, which includes the full exercise of the over-allotment option by the underwriter [1]. - Each unit consists of one Class A common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $1.75 for 24 months [2]. - The underwriter received a cash commission of 6% of the aggregate gross proceeds from the offering [2]. Use of Proceeds - The net proceeds from the financing will be utilized to advance research and clinical development programs, as well as for general administrative expenses and working capital [3]. Regulatory Compliance - The offering was conducted as a private placement under National Instrument 45-106, allowing sales to qualified investors in Canada, excluding Quebec [4]. - The units issued are not subject to resale restrictions in Canada under applicable securities laws [4]. Company Overview - Cardiol Therapeutics is focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate, CardiolRx™, targeting inflammation and fibrosis associated with heart conditions [6]. - The company is conducting the MAVERIC Program to evaluate CardiolRx™ for recurrent pericarditis and has received Orphan Drug Designation from the U.S. FDA for this treatment [7]. - Additionally, the ARCHER Program is studying CardiolRx™ for acute myocarditis, a significant cause of heart failure in young adults [8]. - Cardiol is also developing CRD-38, a novel subcutaneous drug formulation for inflammatory heart disease, addressing a major healthcare cost issue in the U.S. [9].

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Core Viewpoint - Cardiol Therapeutics Inc. has announced a private placement offering to raise gross proceeds of $13.5 million by selling 10,384,616 units at a price of $1.30 per unit, with an option for the underwriter to purchase an additional 10% of the units sold [1][4]. Group 1: Offering Details - The offering consists of units that include one Class A common share and one-half of a common share purchase warrant, with each warrant allowing the purchase of one common share at an exercise price of $1.75 for 24 months [2]. - The offering is scheduled to close on or about January 23, 2026, subject to necessary approvals, including TSX approval, and the negotiation of an underwriting agreement [4]. - A cash commission of 6% of the aggregate gross proceeds will be paid to the underwriter upon closing of the offering [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to advance the company's research and clinical development programs, as well as for general and administrative expenses and working capital [3]. Group 3: Company Overview - Cardiol Therapeutics is a late-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate, CardiolRx™, targeting conditions like pericarditis and myocarditis [9][10]. - The company is also developing CRD-38, a novel drug formulation for treating inflammatory heart disease, which is a significant cause of death and hospitalization in developed countries [12].

Core Viewpoint - Cardiol Therapeutics Inc. has announced a private placement offering to raise gross proceeds of $13.5 million by selling 10,384,616 units at a price of $1.30 per unit, with an option for the underwriter to purchase an additional 10% of the units sold [1][4] Group 1: Offering Details - The offering consists of units that include one Class A common share and one-half of a common share purchase warrant, with each warrant allowing the purchase of one common share at an exercise price of $1.75 for 24 months [2] - The offering is scheduled to close on or about January 23, 2026, subject to necessary approvals, including from the TSX [4] - A cash commission of 6% of the aggregate gross proceeds will be paid to the underwriter upon closing [4] Group 2: Use of Proceeds - The net proceeds from the offering will be used to advance research and clinical development programs, as well as for general administrative expenses and working capital [3] Group 3: Company Overview - Cardiol Therapeutics is focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate, CardiolRx™, targeting conditions like pericarditis and myocarditis [9][10] - The company is also developing CRD-38, a novel drug formulation for inflammatory heart disease, which is a significant cause of death and hospitalization in developed countries [12]

Clinical trial infrastructure fully operational in the U.S. with more than 15 leading cardiovascular centers actively enrolling patients.Activation of additional top-tier clinical sites in Europe and Canada underway, further accelerating enrollment momentum.Full enrollment expected in Q2 2026.Toronto, Ontario--(Newsfile Corp. - January 13, 2026) - Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a late-stage life sciences company focused on advancing the development of ant ...

Summary of Cardiol Therapeutics Archer Phase 2 Webcast Conference Call Company Overview - **Company**: Cardiol Therapeutics (NasdaqCM:CRDL) - **Focus**: Late-stage clinical development of novel therapies for inflammatory heart disease, particularly acute myocarditis, recurrent pericarditis, and heart failure [4][5][24] Key Industry Insights - **Industry Context**: The call discussed the ARCHER trial, a significant clinical study in the field of myocarditis, which is a serious inflammatory heart condition that can lead to heart failure [2][4][8] - **Market Potential**: The market for treatments related to inflammatory heart diseases is substantial, with estimates for IL-1 blockers exceeding $600 million in annual sales in the US, potentially reaching $1 billion by 2027-2028 [36] Core Findings from the ARCHER Trial - **Trial Design**: The ARCHER trial was a phase 2, multi-center, randomized, double-blind, placebo-controlled study involving 109 patients across 34 centers [14][8] - **Primary Endpoints**: The trial aimed to evaluate the safety, tolerability, and efficacy of Cardiol Rx, focusing on cardiac magnetic resonance imaging (CMR) endpoints [13][14] - **Key Results**: - **Extracellular Volume (ECV)**: A reduction of 3.7 mL was observed, indicating decreased inflammation and fibrosis [16][17] - **Intracellular Volume (ICV)**: A reduction of 5.6 mL was noted, suggesting reduced cellular swelling and edema [17] - **Left Ventricular Mass (LVM)**: A significant reduction of over 9 grams in LVM was achieved, which is comparable to reductions seen with established therapies for heart conditions [19][20] - **Safety Profile**: Cardiol Rx demonstrated a strong safety profile, with adverse event rates comparable to placebo [21][22] Implications of Findings - **Clinical Relevance**: The reductions in ECV, ICV, and LVM suggest meaningful structural recovery in patients with acute myocarditis, potentially improving clinical outcomes [20][21][23] - **Translational Insights**: The findings support the hypothesis that Cardiol Rx can remodel the heart by targeting myocardial inflammation, which is crucial for the progression of heart disease [23][28] - **Future Directions**: The results bolster confidence in ongoing trials, particularly the pivotal phase 3 MAVERICK trial for recurrent pericarditis, and highlight the potential for the next-generation drug candidate CRD38 [24][31] Expert Commentary - **Dr. Dennis McNamara**: Emphasized the significance of the ARCHER trial in demonstrating structural changes with therapeutic intervention in myocarditis [26][27] - **Dr. Leslie Cooper**: Highlighted the study's robust design and the importance of the findings in supporting further development for inflammatory heart conditions [28] Next Steps for Cardiol Therapeutics - **Ongoing Trials**: Focus on executing the MAVERICK trial and accelerating the development of CRD38 for heart failure [36][38] - **Market Strategy**: Engage with pharmaceutical companies interested in heart failure medicine to explore partnerships for the next-generation drug candidate [31][38] Conclusion - The ARCHER trial results represent a significant advancement in the treatment of inflammatory heart diseases, with promising implications for future clinical applications and market opportunities [22][24][39]

Core Insights - Cardiol Therapeutics Inc. announced significant findings from the Phase II ARCHER trial, demonstrating that CardiolRx™ improves heart structure in patients with acute myocarditis, supporting its potential for broader applications in inflammatory cardiac conditions [2][4][5] Group 1: Trial Results - The ARCHER trial showed a significant reduction in left ventricular (LV) mass by 9.2 grams (from 130.3g in placebo to 121.1g in the active group, p=0.0117), indicating meaningful structural recovery [3][8] - Extracellular volume (ECV) decreased by 3.7 mL (from 37.3mL in placebo to 33.6mL in the active group, p=0.0538), and intracellular volume (ICV) reduced by 5.6 mL (from 91.2mL in placebo to 85.6mL in the active group, p=0.0928) [8][9] - Left atrial end systolic volume (LAESV) was reduced by 8.1 mL (p=0.0376) and left ventricular end diastolic volume (LVEDV) decreased by 7.4 mL (p=0.0981), reflecting improved heart function [8][9] Group 2: Clinical Implications - The results provide clinical evidence that CardiolRx™ can reduce inflammation-driven structural damage in the heart, a key factor in heart failure progression [4][5] - The findings support the scientific rationale for Cardiol's lead Phase III program in recurrent pericarditis and indicate potential for development across various inflammatory cardiac conditions [4][5][17] Group 3: Company Overview - Cardiol Therapeutics is a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease, with CardiolRx™ as its lead candidate [15][18] - The company is also advancing CRD-38, a next-generation small molecule targeting chronic inflammatory heart conditions [18]

Financial Performance - As of September 30, 2025, Cardiol Therapeutics Inc. reported total assets of CAD 12,947,801, a decrease of 59.5% from CAD 31,863,751 as of December 31, 2024[2] - The company’s cash and cash equivalents decreased to CAD 11,622,408 from CAD 30,580,029, representing a decline of 61.9%[2] - For the nine months ended September 30, 2025, the net loss was CAD 26,606,305, compared to a net loss of CAD 28,498,989 for the same period in 2024, indicating a 6.6% improvement[4] - Operating expenses for the nine months ended September 30, 2025, totaled CAD 26,285,321, down from CAD 30,287,227 in 2024, reflecting a decrease of 13.2%[4] - The basic and diluted net loss per share for the nine months ended September 30, 2025, was CAD 0.32, compared to CAD 0.42 for the same period in 2024[4] - The company’s total equity as of September 30, 2025, was CAD 9,560,875, a significant decrease of 61.3% from CAD 24,728,483 as of December 31, 2024[2] Cash Flow and Expenses - Cash used in operating activities for the nine months ended September 30, 2025, was CAD 18,629,352, slightly lower than CAD 19,467,574 in 2024[6] - Research and development expenses increased to CAD 11,275,671 for the nine months ended September 30, 2025, from CAD 9,783,261 in 2024, marking a rise of 15.3%[4] - Interest income for the nine months ended September 30, 2025, was CAD 551,192, down from CAD 886,567 in 2024, a decrease of 37.8%[6] - The total expenses related to share-based compensation for the nine months ended September 30, 2025, amounted to $7,686,761, a decrease from $11,130,090 for the same period in 2024[24] Share Capital and Equity - The company’s share capital increased to CAD 187,362,629 as of September 30, 2025, from CAD 179,335,421 at the end of 2024, an increase of 4.5%[2] - The number of common shares issued increased to 87,455,722 by September 30, 2025, from 65,352,279 on December 31, 2023, reflecting an increase of 33.9%[22] - The balance of Performance Share Units (PSUs) as of September 30, 2025, is 679,755, down from 2,000,000 on December 31, 2023, indicating significant redemption activity[29] - The balance of Restricted Share Units (RSUs) as of September 30, 2025, was 4,728,056, with 2,915,818 vested[36] Assets and Liabilities - As of September 30, 2025, the total carrying value of property and equipment is $989,647, a decrease from $993,816 on December 31, 2023[18] - The accumulated depreciation increased to $848,666 by September 30, 2025, from $656,758 on December 31, 2023, reflecting a depreciation expense of $143,402 for the year ended December 31, 2024[18] - The lease liability decreased to $134,199 by September 30, 2025, from $174,340 on December 31, 2023, with repayments totaling $41,532 in both 2024 and 2025[19] - The carrying value of the right-of-use asset decreased to $32,598 by September 30, 2025, from $80,586 on December 31, 2024, reflecting the impact of lease repayments and depreciation[18] Management and Commitments - Salaries and benefits for key management personnel for the nine months ended September 30, 2025, totaled $2,446,705[43] - The company has committed lease payments totaling approximately $330,600 for the years 2025 to 2028[39] - The company’s total commitments for contract research services amount to $1,361,101 from 2025 to 2029[41] Subsequent Events - Subsequent to September 30, 2025, 2,621,000 PSUs were issued and 983,592 PSUs were redeemed[34][35] - Subsequent to September 30, 2025, the company completed a financing of US$11.4 million through the issuance of 11,425,000 common share units at USD$1.00 per unit[44] Stock Options and Derivatives - The fair value of stock options issued during the nine months ended September 30, 2025, was estimated at $0.79, compared to $1.79 for the same period in 2024[28] - The Corporation issued 1,560,000 stock options during the year ended December 31, 2024, with a weighted average exercise price of $1.65[25] - The derivative liability related to warrants decreased by $1,352,085 during the three months ended September 30, 2024, and all 8,175,000 warrants expired unexercised during 2024[20] Quarterly Performance - The basic and diluted loss per share for the three months ended September 30, 2025, was calculated based on a loss of $9,964,281, with a weighted average of 84,727,401 shares outstanding[38] - Total operating expenses for the three months ended September 30, 2025, included non-cash share-based compensation of $3,306,682 in general and administration expenses and $692,923 in research and development expenses[42]

Core Insights - Cardiol Therapeutics has received a Notice of Allowance for a U.S. patent that will protect its heart drugs until late 2040, specifically for CardiolRx™ and CRD-38 in treating various cardiac conditions [2][3][5] Intellectual Property Protection - The new patent will provide broad intellectual property protection for Cardiol's therapies against a range of heart diseases, including heart failure, myocarditis, and atherosclerosis [2][5] - This patent allowance enhances Cardiol's market position and intellectual property portfolio, complementing its existing U.S. Orphan Drug Designation for pericarditis [3][5] Clinical Development Programs - Cardiol is advancing late-stage clinical programs for recurrent pericarditis and acute myocarditis, addressing significant unmet medical needs [3][9] - The company is preparing to initiate first-in-human clinical evaluations of CRD-38, a novel therapy for inflammatory heart disease, including heart failure [3][9] Upcoming Presentations and Trials - Cardiol plans to present comprehensive data from the ARCHER trial, a Phase II study of CardiolRx™ in acute myocarditis, at the European Society of Cardiology Annual Meeting on November 29 [3][8] - An update on the pivotal Phase III MAVERIC trial in recurrent pericarditis will also be provided as patient enrollment accelerates [3][7]

Core Insights - Cardiol Therapeutics is set to present full data from its Phase II ARCHER trial at the European Society of Cardiology meeting, focusing on the effects of CardiolRx™ in patients with acute myocarditis [2][5] - The trial demonstrated significant improvements in cardiac structure, including a notable reduction in left ventricular mass, indicating the potential of CardiolRx™ as an effective anti-inflammatory treatment for heart disease [3][4][6] Company Overview - Cardiol Therapeutics Inc. is a clinical-stage life sciences company specializing in late-stage anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate being CardiolRx™ [8] - The company is also developing CRD-38, a novel subcutaneously administered formulation aimed at treating heart failure, which is a leading cause of death and hospitalization globally [11] Trial Details - The ARCHER trial enrolled 109 patients from various countries, including the United States, France, Brazil, and Israel, to assess the safety and efficacy of CardiolRx™ in acute myocarditis [6] - The trial's design and rationale were previously published, emphasizing the importance of addressing inflammation in cardiac conditions [6] Upcoming Events - A webcast conference call is scheduled for December 1, 2025, to discuss the ARCHER trial findings and their implications for Cardiol's future programs in inflammatory heart disease [7]