Recent Updates — CRDL

Cardiol Therapeutics achieved its Phase III MAVERIC trial enrollment target of 110 patients ahead of schedule and plans to expand the study to up to 150 patients following a blinded review showing fewer-than-expected pericarditis recurrences. This expansion aims to preserve statistical power for assessing CardiolRx's efficacy in reducing recurrence risk, pushing the anticipated topline results from Q1 2027 to mid-2027. The company expects existing capital to fund completion with a cash runway extending into Q1 2028. Cardiol Therapeutics is a late-stage life sciences company developing anti-inflammatory and anti-fibrotic therapies for heart disease.

Cardiol Therapeutics received over USD $7 million in proceeds from the exercise of outstanding common share purchase warrants, strengthening its balance sheet and extending its cash runway into the first half of 2028. The capital will fund operations through topline data readout from the pivotal Phase III MAVERIC trial for CardiolRx™ in recurrent pericarditis and support regulatory preparations for a potential New Drug Application. As of September 15, 2026, 425,000 warrants remained unexercised out of an original issuance of 5,712,500, representing additional potential gross proceeds of USD $573,750. The company exercised its Acceleration Right, causing the remaining warrants to expire at 4:00 p.m. Eastern Time on October 16, 2026, with any unexercised warrants automatically cancelled for no consideration. Cardiol Therapeutics is a late-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease.

Cardiol Therapeutics filed a preliminary short form base shelf prospectus in Canada and a corresponding Form F-10 registration statement with the SEC, establishing a US$150 million shelf for future offerings of common shares, debt, warrants, or units over a 25-month period. No securities are currently being offered, and the filing does not obligate the company to raise capital. The prospectus includes additional disclosure requested by Ontario Securities Commission staff regarding R&D program timelines, cost estimates, expense disaggregation, and the use of proceeds from an October 2024 financing. Cardiol Therapeutics is a late-stage life sciences company developing anti-inflammatory and anti-fibrotic therapies for heart disease.