H.C. Wainwright views the results from ardiol Therapeutics’ Phase II ARCHER trial of CardiolRx in acute myocarditis as “very supportive” of future development. The safety “was very clean,” further validating the broader CardiolRx and, by extension, CRD-38 development programs, the analyst tells investors in a research note. H.C. Wainwright believes this morning’s data supports its positive view on Cardiol shares and enhances CardiolRx’s attractiveness to a strategic partner. It reiterates a Buy rating on the shares with a $9 price target The company’s current market cap of $112M ascribes no credit for a positive readout in ARCHER, and today’s release “is a positive,” says H.C. Wainwright.
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