Research Update on Cardiol Therapeutics by First Berlin Equity Research

First Berlin Equity Research has released an update on Cardiol Therapeutics Inc, maintaining a BUY recommendation while adjusting the target price from USD 7.80 to USD 7.50. This decision follows Cardiol's release of its fiscal year 2025 results, aligning with the firm's revised expectations.

The company has reported significant pipeline progress. The MAVERIC phase III trial for recurrent pericarditis has reached 50% enrolment, targeting full enrolment by Q2 2026. The ARCHER phase II trial results in acute myocarditis were published in the ESC Heart Failure journal, highlighting CardiolRx's structural recovery benefits. Additionally, a January capital raise extended Cardiol's cash runway to Q4 2027, ensuring MAVERIC's funding through NDA submission.

Meanwhile, CRD-38 has advanced into IND-enabling studies, and Dr. Timothy Garnett has joined the board, bringing his experience as Eli Lilly's former Chief Medical Officer.