Cadrenal Therapeutics, Inc. Common Stock

Cadrenal Therapeutics has entered into a definitive agreement with a single healthcare-focused institutional investor for a private placement of up to $8.8 million, priced at-the-market under Nasdaq rules. The financing includes $3 million upfront through the sale of 960,000 shares of common stock or pre-funded warrants and accompanying series C-1 and C-2 warrants, at a combined purchase price of $3.125 per share and accompanying warrant. If fully exercised for cash, the warrants could generate an additional $5.8 million in gross proceeds. Net proceeds are expected to extend the company's cash runway into the first quarter of 2027, and potentially into the second half of 2027 if warrants are exercised, supporting partnering opportunities for Tecarfarin in Kawasaki disease and CAD-1005 in cardiac surgery-associated acute kidney injury and heparin-induced thrombocytopenia. The offering is expected to close on or about July 1, 2026, subject to customary conditions.

Cadrenal Therapeutics is preparing to file for a Rare Pediatric Disease Designation from the FDA for Tecarfarin in children with Kawasaki disease who develop coronary artery aneurysms. Up to 25% of untreated Kawasaki disease patients develop these aneurysms, which can lead to blood clots, heart attacks, and sudden cardiac death, and children with large aneurysms require chronic, precise anticoagulation. Tecarfarin is a next-generation Vitamin K antagonist designed to provide more stable and predictable anticoagulation than warfarin, especially in children whose response to warfarin varies. If the FDA grants the designation and later approves Tecarfarin for this indication, Cadrenal would be eligible to receive a Priority Review Voucher, which has recently sold for between $180 million and $205 million. The announcement comes ahead of the BIO International Convention where Cadrenal will present its Phase 3-ready CAD-1005 program and its pediatric rare-disease expansion strategy.