Canaccord says that while the top-line results from Cardiol Therapeutics (CRDL)’ Phase II ARCHER trial in patients with acute myocarditis showed a “notable improvement” in extracellular volume, one of the two primary endpoints, the measure was not statistically significant. In addition, no significant difference was observed in the second primary endpoint of global longitudinal strain, the analyst tells investors in a research note. Canaccord believes that in a best case scenario, Cardiol could run a relatively small outcomes study, in line with the size of ARCHER. It made no adjustments to its clinical timeline for acute myocarditis and reiterates a Buy rating on Cardiol with an $8 price target
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