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Cardiol Therapeutics Inc
ISIN: CA14161Y2006
WKN: A2PA9E
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Cardiol Therapeutics Inc · ISIN: CA14161Y2006 · EQS - Analysts (22 News)
Country: Germany · Primary market: Canada · EQS NID: 21423
22 November 2024 11:06AM

BUY


Original-Research: Cardiol Therapeutics Inc - from First Berlin Equity Research GmbH

22.11.2024 / 11:05 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.


Classification of First Berlin Equity Research GmbH to Cardiol Therapeutics Inc

Company Name: Cardiol Therapeutics Inc
ISIN: CA14161Y2006
 
Reason for the research: Update
Recommendation: BUY
from: 22.11.2024
Target price: USD8.50
Target price on sight of: 12 months
Last rating change: -
Analyst: Christian Orquera

First Berlin Equity Research has published a research update on Cardiol Therapeutics Inc. (ISIN: CA14161Y2006). Analyst Christian Orquera reiterated his BUY rating and maintained his USD 8.50 price target.

Abstract:
Cardiol Therapeutics (Cardiol) announced excellent final data including data for the extension period (EP) from the phase II open-label pilot US study (MAvERIC-Pilot) of its lead drug candidate CardiolRx for the treatment of recurrent pericarditis (RP) in 27 patients. The findings were presented at the American Heart Association Scientific Sessions 2024 by one of the lead investigators, Dr S. Allen Luis, Co-Director of the Pericardial Diseases Clinic at the Mayo Clinic. The data showed that the significant improvements in both pericarditis pain and inflammation seen in the reported results of the primary endpoint at 8 weeks were maintained throughout the 26-week EP of the study. Importantly, during the EP, where patients transitioned from combination therapy (CardiolRx plus standard of care) to CardiolRx monotherapy, 71% remained free from recurrence, demonstrating the drug candidate's efficacy. Overall, the treatment was well tolerated, with 89% of participants completing the study and adherence reported at 95%. These findings clearly support the progression of CardiolRx into phase II/III MAvERIC-2 and phase III MAvERIC-3 trials, positioning it as a promising, non-immunosuppressive therapeutic option for patients with RP. We thus expect the company to report positive headline results from the phase II study for acute myocarditis (AM) by early 2025. We believe that investors have overlooked the significant recent progress made in Cardiol's pipeline, which has left the company significantly undervalued at current levels. We reiterate our Buy recommendation at an unchanged price target of USD8.50.

First Berlin Equity Research hat ein Research Update zu Cardiol Therapeutics Inc. (ISIN: CA14161Y2006) veröffentlicht. Analyst Christian Orquera bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von USD 8,50.

Zusammenfassung:
Cardiol Therapeutics (Cardiol) gab hervorragende endgültige Daten einschließlich der Daten für den Verlängerungszeitraum (EP) der Open-Label-Pilotstudie der Phase II in den USA (MAvERIC-Pilot) zu seinem führenden Arzneimittelkandidaten CardiolRx für die Behandlung von rezidivierender Perikarditis (RP) bei 27 Patienten bekannt. Die Ergebnisse wurden auf den American Heart Association Scientific Sessions 2024 von einem der leitenden Prüfärzte, Dr. S. Allen Luis, Co-Direktor der Klinik für Herzbeutelerkrankungen an der Mayo Clinic, vorgestellt. Die Daten zeigten, dass die signifikanten Verbesserungen bei Perikarditis-Schmerzen und -Entzündungen, die in den berichteten Ergebnissen des primären Endpunkts nach 8 Wochen festgestellt wurden, während der 26-wöchigen EP der Studie erhalten blieben. Wichtig ist, dass während der EP, in der die Patienten von der Kombinationstherapie (CardiolRx plus Standardbehandlung) auf die CardiolRx-Monotherapie umgestellt wurden, 71 % der Patienten rezidivfrei blieben, was die Wirksamkeit des Medikamentenkandidaten belegt. Insgesamt wurde die Behandlung gut vertragen: 89 % der Teilnehmer schlossen die Studie ab, und die Adhärenz lag bei 95 %. Diese Ergebnisse sprechen eindeutig für die Aufnahme von CardiolRx in die Phase II/III der MAvERIC-2- und die Phase III der MAvERIC-3-Studie und positionieren es als vielversprechende, nicht immunsuppressive Therapieoption für Patienten mit RP. Wir erwarten daher, dass das Unternehmen Anfang 2025 positive Ergebnisse aus der Phase-II-Studie für akute Myokarditis (AM) vorlegen wird. Wir sind der Meinung, dass die Anleger die jüngsten bedeutenden Fortschritte in der Pipeline von Cardiol übersehen haben, so dass das Unternehmen auf dem aktuellen Niveau deutlich unterbewertet ist. Wir bekräftigen unsere Kaufempfehlung bei einem unveränderten Kursziel von USD8,50.

Bezüglich der Pflichtangaben gem. §85 Abs. 1 S. 1 WpHG und des Haftungsausschlusses siehe die vollständige Analyse.

 

You can download the research here: http://www.more-ir.de/d/31423.pdf

Contact for questions:
First Berlin Equity Research GmbH
Herr Gaurav Tiwari
Tel.: +49 (0)30 809 39 686
web: www.firstberlin.com
E-Mail: g.tiwari@firstberlin.com


The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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2036745  22.11.2024 CET/CEST

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