Cadrenal Therapeutics(US:CVKD)2025-11-10 14:05Financial Performance - Cadrenal reported a net loss of $2.7 million for Q3 2025, compared to a net loss of $2.4 million for Q3 2024[5]. - The total operating expenses for Q3 2025 were $2.7 million, compared to $2.5 million in Q3 2024[13]. - The accumulated deficit as of September 30, 2025, was $35.9 million, compared to $25.7 million at the end of 2024[11]. - The weighted average number of common shares used in computing net loss per common share for Q3 2025 was approximately 2.04 million[13]. Expenses - Research and development expenses for Q3 2025 were $0.7 million, a decrease from $0.8 million in Q3 2024, while general and administrative expenses increased to $2.0 million from $1.7 million in the same period[5]. Cash Position - As of September 30, 2025, Cadrenal had cash and cash equivalents of $3.9 million, down from $10.0 million at the end of 2024[6]. Product Development - The company completed the manufacturing of tecarfarin drug product in accordance with current good manufacturing practices (cGMP) and is advancing clinical development[4]. - Cadrenal expanded its portfolio by acquiring assets from eXIthera Pharmaceuticals, including the Phase 2-ready IV Factor XIa inhibitor, frunexian[4]. - Cadrenal is in discussions with key partners to advance the development strategy for tecarfarin, targeting significant anticoagulation challenges[3]. Strategic Goals - The company aims to reshape standards of care in anticoagulation by targeting underserved patient populations with its novel therapeutics[7].