Positive Outlook for Cadrenal Therapeutics, Inc. Amid Strategic Developments and FDA Trial Milestone

Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Cadrenal Therapeutics, Inc. (CVKD – Research Report), with a price target of $32.00.

Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Cadrenal Therapeutics, Inc.’s recent developments and strategic decisions. The company has shown progress by completing the technical transfer and manufacturing transition of tecarfarin’s drug substance to a U.S.-based CDMO, which is expected to bolster their clinical and regulatory development strategy while enhancing supply chain security. Despite financial concerns, as the company ended the quarter with $7.3 million and requires additional funding, these strategic moves are seen as positive steps forward.
Furthermore, the FDA’s agreement on a non-inferiority design for the Phase 3 TECH-LVAD trial is a significant milestone. This agreement provides clarity on the trial’s direction, focusing on addressing bleeding issues in LVAD patients, which remains a critical clinical challenge. The alignment with the FDA and the planned structure of the trial, including a composite clinical endpoint, are viewed as promising for regulatory acceptance and clinical relevance. These factors collectively contribute to Pantginis’s positive outlook and Buy rating for Cadrenal Therapeutics, Inc.