Cardiol Therapeutics Reports Financial Challenges Amid Clinical Progress

Cardiol Therapeutics Inc. ( (CRDL) ) has released its Q3 earnings. Here is a breakdown of the information Cardiol Therapeutics Inc. presented to its investors.

Cardiol Therapeutics Inc. is a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate CardiolRx™ targeting inflammasome pathway activation.

In its latest earnings report, Cardiol Therapeutics Inc. revealed a significant decrease in cash reserves and an ongoing net loss, reflecting the company’s continued investment in research and development. The company remains committed to advancing its clinical programs despite financial challenges.

The report highlights a decrease in cash and cash equivalents from $30.6 million at the end of 2024 to $11.6 million as of September 30, 2025. The company reported a net loss of $26.6 million for the nine months ending September 30, 2025, compared to a $28.5 million loss in the same period the previous year. Operating expenses were reduced, with general and administrative costs decreasing significantly, while research and development expenses increased slightly.

Despite the financial losses, Cardiol Therapeutics Inc. continues to focus on its strategic initiatives, including the issuance of new shares and warrants to raise additional capital. The company recently completed a US$11.4 million financing, which is expected to support its ongoing clinical trials and research activities.

Looking ahead, Cardiol Therapeutics Inc. remains focused on advancing its clinical-stage programs and exploring strategic opportunities to enhance shareholder value, with management expressing optimism about the potential of its lead drug candidate in addressing unmet medical needs in heart disease.