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].

Toronto, Ontario--(Newsfile Corp. - January 16, 2026) - Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a late-stage life sciences company focused on advancing the development of anti-inflammatory and anti-fibrotic therapies for heart disease, today announced that it has entered into an agreement with Canaccord Genuity Corp. (the "Underwriter") as the sole underwriter and sole bookrunner pursuant to which the Underwriter has agreed to purchase for resale 10,384,616 units ...

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]