Cadrenal Therapeutics, Inc.

Listed Company

CVKDCIK 0001937993NasdaqEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-13.20M

Total Assets

$4.33M

Equity

$2.74M

Shares Out

2.51M

Op. Cash Flow

$-12.60M

Business

Cadrenal Therapeutics, Inc. is developing tecarfarin, a novel oral reversible vitamin K antagonist anticoagulant addressing unmet needs in chronic anticoagulation for rare cardiovascular conditions. It is advancing tecarfarin as its lead investigational product, conducting clinical trials, regulatory interactions and collaborations to evaluate efficacy and safety in patient populations such as LVAD recipients, patients with end-stage kidney disease and atrial fibrillation, mechanical heart valves, and thrombotic APS. Key business areas include clinical development, regulatory affairs, third-party manufacturing relationships, and business development for licensing and partnerships. The company targets regulatory approvals primarily in the United States and plans commercialization via a focused specialty salesforce, anticoagulation clinics and distribution or partnership channels in other markets.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
General and administrative expenses	9	7	4	2
Research and development expenses	4	4	4	392,859
Depreciation expense	6,874	1,880	1,980	1,266
Total operating expenses	13	11	8	3
Loss from operations	−13	−11	−8	−3
Interest and dividend income	223,815	309,251	−249,092	−21
Total other income	223,815	309,251	724,243	4
Net loss and comprehensive loss	−13	−11	−8	−7
Net loss per common share, basic (in Dollars per share)	−6.64	−8.73	−9.29	−0.85
Net loss per common share, Diluted (in Dollars per share)	−6.64	−8.73	−9.29	−0.85
Weighted average number of common shares used in computing net loss per common share, basic (in Shares)	2	1	899,465	8
Weighted average number of common shares used in computing net loss per common share, Diluted (in Shares)	2	1	899,465	8

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-01-31
Cash and cash equivalents	4	10	8	32,586	—
Interest receivable	5,096	38,153	37,248	—	—
Prepaid expenses and other current assets	200,140	42,257	52,425	—	—
Deferred offering costs	106,342	14,445	—	—	—
Total current assets	4	10	8	727,596	—
Property, plant and equipment, net	5,174	6,944	2,287	1,013	—
Other assets	2,167	3,792	3,792	5,987	—
Total assets	4	10	9	778,174	—
Accounts payable	650,663	2	167,319	404,897	—
Accrued liabilities	937,319	1	638,206	863,564	—
Total current liabilities	2	3	826,875	1	—
Total liabilities	2	3	826,875	6	—
Preferred stock, $0.001 par value, 7,500,000 shares authorized, no shares issued and outstanding as of December 31, 2025 and 2024	—	—	—	—	—
Common stock, $0.001 par value; 75,000,000 shares authorized, 2,338,127 shares issued and outstanding as of December 31, 2025; 1,782,486 shares issued and outstanding as of December 31, 2024	2,338	1,782	868	8,194	—
Additional paid-in capital	42	33	23	1	—
Accumulated deficit	−39	−26	−15	−7	—
Total stockholders equity	3	7	8	−6	—
Total liabilities and stockholders equity	4	10	9	778,174	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Equity-based compensation	2	1	710,381	928,049
Non-cash lease expense	—	−352	292	—
Interest receivable	33,057	−905	−37,248	40,213
Prepaid expenses	−157,883	10,168	−29,710	−22,715
Deferred offering costs	−91,897	−14,445	672,295	−672,295
Other assets	1,625	—	2,195	−5,987
Accounts payable	−851,805	1	−237,578	404,897
Accrued liabilities	−244,171	543,284	−225,645	863,622
Net cash used in operating activities	−13	−7	−4	−1
Investment in property and equipment	−5,104	−6,537	−3,254	−2,279
Net cash used in investing activities	−5,104	−6,537	−3,254	−2,279
Proceeds from warrant inducements	—	5	—	—
Issuance costs from warrant inducement	—	−541,022	—	—
Proceeds from sale of common stock under ATM	5	5	—	7,950
Issuance costs for sale of common stock under ATM	−271,214	−337,639	—	—
Proceeds from the sale of common stock and warrants	2	—	—	—
Issuance costs for the sale of common stock and warrants	−291,883	—	—	—
Proceeds from exercise of warrants	—	298	250,000	—
Proceeds from exercise of stock options	48,000	—	—	—
Net cash provided by financing activities	7	9	12	1
Net change in cash and cash equivalents	−6	2	8	32,586

Filings

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