Cadrenal Therapeutics, Inc. (Nasdaq: CVKD), a late-stage biopharmaceutical company, has released its financial results for the fourth quarter and full year ended December 31, 2025. The company reported a net loss of $3.0 million for the quarter, a decrease from $4.2 million in the same period of 2024. Research and development expenses were $0.7 million, down from $1.5 million year-over-year, while general and administrative expenses decreased to $2.4 million from $2.7 million. As of December 31, 2025, Cadrenal had cash and cash equivalents of $4.0 million and approximately 2.3 million shares of common stock outstanding. The company is actively evaluating financing and strategic alternatives to support its clinical development activities.

In addition to the financial results, Cadrenal provided an update on its CAD-1005 program for suspected heparin-induced thrombocytopenia (HIT). The company reported encouraging results from a Phase 2 study, which showed a greater than 25% absolute reduction in thrombotic events in patients treated with CAD-1005 compared to placebo. The company recently completed its End-of-Phase 2 meeting with the FDA, clarifying a potential registrational path for its planned Phase 3 pivotal trial. The incorporation of FDA feedback into the Phase 3 protocol is currently underway. Cadrenal continues to position CAD-1005 as the only selective 12-LOX inhibitor in clinical development, supported by Orphan Drug and Fast Track designations from the FDA.

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