BLUE SKY BREAKOUT

[Singhania]

Canaccord Genuity - PT Raised By 33% to $8 – Potential 260% rise

$CRDL – More reason to like the stock. Analyst at Canaccord Genuity lifted the PT to $8 from $6 – Potential gain of 260% from CMP

Big Catalyst - Cardiol is conducting an additional open-label Phase II MAvERIC-Pilot study for CardiolRx in recurrent pericarditis. The study is expected to report 8-week top-line data in Early June.

The report Further Says - We have incorporated a $75M equity raise in 3Q24 based on a positive outcome from the recurrent pericarditis Phase II trial. We extended the out-year of our model from a previous 2028 to 2035. We additionally have reduced the EU WAC pricing to 45% of U.S. pricing which is in-line with the current WAC pricing of epidiolex (comparator by mechanism, not indication).