Cadrenal Therapeutics Q3 update: expands tecarfarin to LVAD/APS, cash $9.1M

Cadrenal Therapeutics, Inc.

Expanded tecarfarin development beyond ESKD with AFib to include LVAD and APS, adding $1.5B annual U.S. market opportunity.
Total addressable market for tecarfarin now over $2 billion annually in the U.S.
Q3 2023 operating expenses (non-cash) totaled $989,000; cash used in operations $628,000.
Cash balance as of Sept 30, 2023 was $9.1 million, providing flexibility to initiate pivotal trial in 2024.
Completed $7.5 million private placement at $1.75/share in July 2023.

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