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Cardiol Therapeutics Inc T.CRDL

Alternate Symbol(s):  CRDL

Cardiol Therapeutics Inc. is a clinical-stage life sciences company. The Company is focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. Its lead drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure. It is also developing CRD-38, a novel subcutaneously administered drug intended for use in heart failure. It has received Investigational New Drug Application authorization from the United States Food and Drug Administration to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart.


TSX:CRDL - Post by User

Post by Youhillmanon Mar 25, 2021 11:57pm
350 Views
Post# 32884198

Leede Jones Gable initiates coverage - $12.50 Target

Leede Jones Gable initiates coverage - $12.50 Target

Just came across this on a tweet, thought I'd share the information....this means the company now has coverage by three companies with many more to come next month with a NASDAQ listing.

 

Leede Jones Gable has initiated coverage on Canadian biotechnology firm Cardiol Therapeutics Inc (TSE:CRDL) (OTCQX:CRTPF) with a ‘Speculative Buy’ rating.

In a note Thursday, the research firm cited Oakville, Ontario-based Cardiol’s revenue potential from its ultrapure cannabidiol formulation Cortalex, which was launched last year through the Medical Cannabis by Shoppers portal.

Leede Jones Gable analyst Douglas Loe wrote that the alliance should generate top-line growth while clinical trials – including the Phase II/III trial of its flagship product CardiolRx – continue in the background.

“Cannabidiol’s clinical prospects in cardiovascular disease are, perhaps surprisingly at least to us initially, quite well-documented in the medical literature in preclinical models of disease,” Loe wrote, “and our diligence thus suggests to us that Cardiol’s initiative to more fully test cannabidiol’s clinical prospects is justified and with strong prospects for value creation based on future Phase II/III efficacy signals that we expect to transpire during our forecast period.

“What we found most striking in our investigation of cannabidiol’s medical prospects in cardiovascular disease was just how well-characterized its prospects actually were in this disease category, despite which few if any firms other than Cardiol are exploring this activity,” he added.

The analyst cited a number of diseases that could potentially be treated with Cortalex, including coronavirus-associated cardiovascular disease, acute myocarditis and diastolic heart failure.

Loe also noted that Cardiol’s strategic manufacturing alliance for CardiolRx with Purisys and Dalton Pharma Services provides competitive advantages in medical markets where cannabidiol purity is critical to clinical success.

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