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Cadrenal Therapeutics(CVKD) - 2024 Q4 - Annual Results

Financial Performance - Cadrenal raised approximately $9.8 million in financing transactions during the year ended December 31, 2024, including $5.1 million through an at-the-market facility and $4.7 million from warrant exercises[9]. - Research and development expenses for the year ended December 31, 2024, were $4.2 million, compared to $4.1 million for the year ended December 31, 2023[14]. - General and administrative expenses for the year ended December 31, 2024, were $6.8 million, compared to $3.5 million for the year ended December 31, 2023[14]. - Cadrenal reported a net loss of $10.7 million for the year ended December 31, 2024, compared to a net loss of $8.4 million for the year ended December 31, 2023[14]. - As of December 31, 2024, Cadrenal's cash and cash equivalents totaled $10.0 million, an increase from $8.4 million as of December 31, 2023[15]. Leadership Changes - The company appointed James J. Ferguson, MD, as Chief Medical Officer and Jeff Cole as Chief Operating Officer to strengthen its leadership team[6]. Clinical Development - A collaboration agreement with Abbott was announced to support the pivotal TECH-LVAD trial for tecarfarin, leveraging insights from recent HeartMate 3 clinical trials[4]. - The FDA provided additional guidance for the design of a future Phase 3 trial of tecarfarin during a Type D meeting held on February 3, 2025[5]. - Cadrenal received FDA Orphan Drug Designation for tecarfarin in April 2024, highlighting its potential impact on rare cardiovascular conditions[11]. - The company is exploring collaborations with potential development partners to advance tecarfarin's pivotal clinical trial for patients with LVAD and other rare cardiovascular conditions[8].