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Cardiol Therapeutics Inc. (T:CRDL)

Business Focus: Biotechnology & Medical Research (NEC)

Sector:  Healthcare Industry:  Biotechnology & Medical Research
 
Company Contact
Address: 602-2265 Upper Middle Road East
OAKVILLE ON L6H 0G5
Tel: 1-289-9100855
Website: https://www.cardiolrx.com
IR: See website
Key People
David Elsley
President, Chief Executive Officer, Director
Christopher Waddick
Chief Financial Officer, Corporate Secretary, Director
Bernard Lim
Chief Operating Officer
Andrew Hamer
Chief Medical Officer, Head of Research and Development
   
Business Overview
Cardiol Therapeutics Inc. is a clinical-stage life sciences company. The Company is focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. Its lead drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure. It is also developing CRD-38, a novel subcutaneously administered drug intended for use in heart failure. It has received Investigational New Drug Application authorization from the United States Food and Drug Administration to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart.
Financial Overview
For the nine months ended 30 September 2023, Cardiol Therapeutics Inc revenues was not reported. Net loss decreased 12% to C$20.5M. Lower net loss reflects Administration - Balancing value decrease of 49% to C$8.5M (expense), Research and development - Balancing val decrease of 23% to C$9.9M (expense), Interest income increase from C$653K to C$1.6M (income).
Employees: 17 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $111.02M as of Sep 30, 2023
Annual revenue (TTM): $0.00M as of Sep 30, 2023
EBITDA (TTM): -$30.60M as of Sep 30, 2023
Net annual income (TTM): -$28.01M as of Sep 30, 2023
Free cash flow (TTM): -$27.74M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 68,168,708 as of Mar 12, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization