Cardiol Therapeutics Secures Buy Rating Amid Promising Trial Results

First Berlin Equity Research has released an update on Cardiol Therapeutics Inc., maintaining a "BUY" recommendation with a target price of USD 8.50. The report highlights excellent data from the phase II MAvERIC-Pilot study for Cardiol’s lead drug, CardiolRx, targeting recurrent pericarditis. Presented at the American Heart Association Scientific Sessions 2024, the data showed lasting improvements in pericarditis symptoms over a 26-week extension period.

Key findings include 71% of patients remaining recurrence-free when transitioning to CardiolRx monotherapy, underlining the drug's effectiveness. Moreover, the study reported high tolerance levels, with 89% of participants completing it and adherence at 95%. These insights support advancing CardiolRx into further phase II/III and III trials.

Despite these advancements, Cardiol’s progress appears undervalued by the market. Anticipation is building for positive results from the acute myocarditis phase II study, expected by early 2025.