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Cardiol Therapeutics Inc. (T:CRDL)

Business Focus: Biotechnology & Medical Research (NEC)

Sector:  Healthcare Industry:  Biotechnology & Medical Research
See Regulatory Filings on SEDAR
Company Contact
Address: 602-2265 Upper Middle Road East
Tel: 1-289-9100855
IR: See website
Key People
Guillermo Torre-Amione
Chairman of the Board
David Elsley
President, Chief Executive Officer, Director
Chris Waddick
Chief Financial Officer, Corporate Secretary
Bernard Lim
Chief Operating Officer
Anthony E. Bolton
Director of Research
Andrew Hamer
Chief Medical Officer
Thomas Moffatt
Chief Commercial Officer
Business Overview
Cardiol Therapeutics Inc. (Cardiol) is a Canada-based clinical-stage biotechnology company focused on the research and clinical development of anti-inflammatory therapies for the treatment of cardiovascular disease (CVD). The Company's lead product, CardiolRx, is a pharmaceutically produced oral cannabidiol formulation that is in a Phase II/III study in hospitalized patients testing positive for COVID-19 with a prior history of, or risk factors for, cardiovascular disease. Cardiol has also received clearance from the Food and Drug Administration (FDA) for its investigational new drug (IND) application for a Phase II international trial that investigates the anti-inflammatory and anti- fibrotic properties of CardiolRx in patients with acute myocarditis, which is a common cause of sudden cardiac death in people under 35 years of age. In addition, Cardiol is developing a subcutaneous formulation of CardiolRx and other anti-inflammatory therapies for the treatment of chronic heart failure.
Financial Overview
For the nine months ended 30 September 2021, CardiolTherapeutics Inc revenues increased from C$0K to C$79K. Netloss increased from C$11M to C$25.4M. Revenues reflect anincrease in demand for the Company's products and servicesdue to favorable market conditions. Higher net lossreflects Gain (loss) on foreign exchange decrease of 54% toC$15K (income). Basic Earnings per Share excludingExtraordinary Items decreased from -C$0.38 to -C$0.60.
Employees: 14 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $157.43M as of Sep 30, 2021
Annual revenue (TTM): $0.08M as of Sep 30, 2021
EBITDA (TTM): -$34.96M as of Sep 30, 2021
Net annual income (TTM): -$35.05M as of Sep 30, 2021
Free cash flow (TTM): -$22.16M as of Sep 30, 2021
Net Debt Last Fiscal Year: N/A
Shares outstanding: 60,954,499 as of Nov 11, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization