Positive clinical data supports the near-term value proposition of CAD-1005, but the need for financing against a cash balance of $4.0M raises dilution risk. Monitor for upcoming capital raises or partnership announcements as key catalysts.
Price Chart
Executive Summary
Cadrenal Therapeutics reported a net loss of $3.0 million for Q4 2025, an improvement from $4.2 million in the prior year, with R&D expenses declining. The company highlighted positive Phase 2 data for its CAD-1005 program in HIT and an FDA End-of-Phase 2 meeting clarifying the path to a Phase 3 trial. However, it noted it is evaluating financing and strategic alternatives, signaling ongoing capital needs.
Key Financial Metrics
Key Facts
- Net loss for Q4 2025 was $3.0 million vs $4.2 million in Q4 2024, representing an improvement.
- R&D expenses decreased to $0.7 million from $1.5 million year-over-year.
- Cash and cash equivalents were $4.0 million as of December 31, 2025, down from $10.0 million at the end of 2024.
- Company reported encouraging Phase 2 data for CAD-1005 in HIT, showing >25% absolute reduction in thrombotic events vs placebo.
- Completed End-of-Phase 2 FDA meeting, with Phase 3 protocol development underway.
- Company is evaluating financing and strategic alternatives to fund clinical development.
Financial Impact
Reduced quarterly loss by $1.2 million YoY, but cash burn remains high with only $4.0M cash on hand.
Risk Factors
- Low cash balance ($4.0M) relative to operating needs increases risk of dilutive financing.
- Clinical development risk for CAD-1005 in HIT, including Phase 3 design and execution.
- No revenue-generating products; entirely dependent on successful R&D and future funding.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-036937 |
| Document: ea0284258-8k_cadrenal.htm | 0001213900-26-036937 |
| Document: 0001213900-26-036937-index-headers.html | 0001213900-26-036937 |
| Document: 0001213900-26-036937-index.html | 0001213900-26-036937 |
| Document: 0001213900-26-036937.txt | 0001213900-26-036937 |
| 8-K Data (Synthetic) | 0001213900-26-036937 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 19d ago | 8-K | $0.9723 | awaiting T+60 | — | $0.9100 (−6.41%) |
Aug 31, 2026 8w ago | 8-K | $1.75 | awaiting T+60 | — | $0.9100 (−48.00%) |
Jul 21, 2026 13w ago | 8-K | $2.17 $0.9970 | ▼ −54.06% | ▼ −58.03% | $0.9100 (−58.06%) |
Jul 21, 2026 13w ago | EFFECT | $2.17 $0.9970 | ▼ −54.06% | ▼ −58.03% | $0.9100 (−58.06%) |
Jul 1, 2026 16w ago | Press Release | $3.60 $1.12 | ▲ +68.89% | ▲ +71.94% | $0.9100 (+74.72%) |
Jun 29, 2026 17w ago | 8-K | $3.34 $1.32 | ▼ −60.48% | ▼ −64.04% | $0.9100 (−72.75%) |
Jun 18, 2026 18w ago | 8-K | $3.50 $1.06 | ▼ −69.71% | ▼ −71.61% | $0.9100 (−74.00%) |
Jun 15, 2026 18w ago | 144 | $3.04 $1.18 | ▲ +61.18% | ▲ +62.18% | $0.9100 (+70.07%) |
May 7, 2026 24w ago | Press Release | $6.02 $1.96 | ▼ −67.44% | ▼ −71.27% | $0.9100 (−84.88%) |
Apr 30, 2026 25w ago | 8-K | $6.67 $2.06 | ▼ −69.12% | ▼ −72.22% | $0.9100 (−86.36%) |
US Market Status
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