Cardiol Therapeutics Completes US$11.4 Million Financing

Cardiol Therapeutics Inc. announced the successful completion of a private placement offering, raising US$11.4 million. The funds will support the company's operations into the third quarter of 2027 and fully fund the MAVERIC Phase III pivotal trial of its orphan drug candidate, CardiolRx™, for recurrent pericarditis. The company also highlighted new data from the ARCHER trial, which demonstrated a significant reduction in left ventricular mass, supporting the development of its next-generation therapy, CRD-38, for heart failure. The financing involved the sale of 11.4 million units, each consisting of one Class A common share and one-half of one common share purchase warrant. Certain insiders participated in the offering, which is considered a related-party transaction.