Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Cardiol Therapeutics ( (TSE:CRDL) ) just unveiled an update.
Cardiol Therapeutics has closed a bought-deal private placement of 11,423,078 units at $1.30 per unit, including full exercise of the over-allotment option, raising gross proceeds of $14.85 million. Each unit comprises one common share and one-half warrant, with whole warrants exercisable at $1.75 for 24 months, and the company plans to deploy the net proceeds to fund its research and clinical development programs, along with general corporate purposes, working capital, and other expenses, strengthening its balance sheet as it advances late-stage cardiovascular trials.
The most recent analyst rating on (TSE:CRDL) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Cardiol Therapeutics stock, see the TSE:CRDL Stock Forecast page.
Spark’s Take on TSE:CRDL Stock
According to Spark, TipRanks’ AI Analyst, TSE:CRDL is a Neutral.
The score is held down primarily by very weak financial performance (pre-revenue profile, large ongoing losses, and substantial cash burn with shrinking equity), which increases financing and dilution risk despite low debt. Technicals provide only a modest offset due to improving short-term momentum, while valuation remains unattractive because the company is loss-making and offers no dividend support.
To see Spark’s full report on TSE:CRDL stock, click here.
More about Cardiol Therapeutics
Cardiol Therapeutics is a late-stage life sciences company developing anti-inflammatory and anti-fibrotic therapies for heart disease. Its lead small-molecule candidate, CardiolRx, targets inflammasome pathway activation and is being evaluated for recurrent pericarditis and acute myocarditis through its MAVERIC and ARCHER clinical programs, with Orphan Drug Designation granted by the U.S. FDA for pericarditis. The company is also advancing CRD-38, a subcutaneously administered formulation for inflammatory heart disease.
Average Trading Volume: 95,279
Technical Sentiment Signal: Sell
Current Market Cap: C$141M
For a thorough assessment of CRDL stock, go to TipRanks’ Stock Analysis page.