Cardiol Therapeutics Initiates Phase II/III Clinical Trial for Recurrent Pericarditis

Cardiol Therapeutics has announced the start of its pivotal phase II/III clinical trial, MAVERIC-2, focusing on recurrent pericarditis patients who have ceased interleukin-1 blocker therapies. These therapies often result in up to a 75% recurrence rate for pericarditis. The company aims to offer CardiolRx as a more effective and cost-efficient alternative treatment. MAVERIC-2, running alongside the planned MAVERIC-3, could potentially speed up the approval process and expand the market to address both second- and third-line therapies.

Financially, Cardiol recently secured USD 15.5 million through a capital increase to fund the trial and ongoing operations. The next significant milestone for the company will be the presentation of complete clinical data from its MAVERIC-Pilot phase II study at the American Heart Association Scientific Sessions on November 18, 2024. First Berlin Equity Research maintains its 'Buy' recommendation with a target price of USD 8.50.