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Cardiol Therapeutics ( (TSE:CRDL) ) has shared an announcement.
On January 16, 2026, Cardiol Therapeutics announced a bought-deal private placement with Canaccord Genuity Corp., under which the underwriter agreed to purchase 10,384,616 units at $1.30 per unit for gross proceeds of $13.5 million, with an additional 10% over-allotment option that could raise up to a further $1.35 million. Each unit comprises one common share and one-half warrant exercisable at $1.75 for 24 months, and the financing, expected to close on or about January 23, 2026 subject to regulatory approvals including from the TSX, is intended to fund Cardiol’s research and clinical development programs as well as general corporate purposes, reinforcing the company’s balance sheet as it advances late-stage cardiovascular trials and seeks to strengthen its competitive position in inflammatory heart disease therapeutics.
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 Inc. is a late-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease. Its lead small-molecule drug candidate, CardiolRx, targets inflammasome pathway activation implicated in pericarditis, myocarditis, and heart failure, and is being evaluated in the Phase III MAVERIC trial for recurrent pericarditis and has completed Phase II studies in pericarditis and acute myocarditis. The company is also advancing CRD-38, a subcutaneously administered formulation for inflammatory heart disease, including heart failure, and holds Orphan Drug Designation from the U.S. FDA for CardiolRx in pericarditis.
YTD Price Performance: 8.40%
Average Trading Volume: 93,964
Technical Sentiment Signal: Sell
Current Market Cap: C$142M
For a thorough assessment of CRDL stock, go to TipRanks’ Stock Analysis page.