CADRENAL THERAPEUTICS PROVIDES THIRD-QUARTER CORPORATE UPDATE

Core Insights - Cadrenal Therapeutics is advancing its late-stage development of tecarfarin, a new vitamin K antagonist aimed at providing safer anticoagulation for patients with implanted cardiac devices or rare cardiovascular conditions [1][9][11] Recent Highlights - In early September, Cadrenal leadership engaged with the U.S. FDA regarding the Phase 3 clinical trial protocol for tecarfarin in LVAD patients and continues these discussions [2] - The company is progressing collaboration discussions with Abbott for a pivotal clinical trial involving the Abbott LVAD HeartMate 3, the only LVAD available in the U.S. [2] Corporate Developments - Cadrenal joined the Corporate Council of the Anticoagulation Forum in October 2024, aiming to collaborate with 15,000 healthcare professionals to improve outcomes for patients on anticoagulants [3] - The company completed operational readiness activities with its CDMO to supply active pharmaceutical ingredients and clinical trial materials in compliance with cGMP [4] Financial Updates - On October 24, 2024, Cadrenal raised approximately $5.1 million through its at-the-market facility, followed by the exercise of warrants generating about $4.7 million on November 1, 2024 [5] - Recent financing transactions totaling $9.8 million increased the cash balance to approximately $11.3 million, providing additional working capital for advancing tecarfarin towards a pivotal Phase 3 trial [5][6] Clinical Development - Tecarfarin is the only anticoagulant in development for patients with implanted cardiac devices and is designed to address challenges associated with warfarin, potentially offering a safer and more effective chronic anticoagulant option [9][12] - The drug is expected to improve outcomes and reduce major events for warfarin-dependent patients, with Phase 2/3 trials indicating enhanced stability and time in therapeutic range [12]