CVKD

MKT CAP:$14M

Cadrenal Therapeutics, Inc. Common Stock

Market Cap

$14M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$5.53-$1.80 (-24.56%)

Apr 23, 2026

Company Details

Cadrenal Therapeutics, Inc. operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel therapy with orphan drug indication for the prevention of systemic thromboembolism of cardiac or...

CEO

Quang X. Pham

IPO Date

Jan 20, 2023

Website

www.cadrenal.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$13M

EPS (Diluted)

-$6.68

Free Cash Flow

-$13M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Mar 31, 2026

$0EPS -$6.64

Q4 2025

Mar 31, 2026

$0EPS -$1.41

Q3 2025

Nov 10, 2025

$0EPS -$1.31

Q2 2025

Aug 11, 2025

$0EPS -$1.87

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$170.5K
Q2 22	$0	$0	-$482.3K
Q3 22	$0	$0	-$972.8K
Q4 22	$0	-$760	-$1M
Q1 23	$0	$0	-$4M
Q2 23	$0	-$597	-$1M
Q3 23	$0	$0	-$1M
Q4 23	$0	$0	-$1M
Q1 24	$0	$0	-$2M
Q2 24	$0	$0	-$2M
Q3 24	$0	$0	-$2M
Q4 24	$0	$0	-$4M
Q1 25	$0	-$5.5K	-$4M
Q2 25	$0	$0	-$4M
Q3 25	$0	-$401	-$3M
Q4 25	$0	-$555	-$3M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$43.7K	-$43.7K
Q3 22	$0	$0
Q4 22	-$290.2K	-$287.9K
Q1 23	-$1M	-$1M
Q2 23	-$795.3K	-$795.3K
Q3 23	-$627.8K	-$627.8K
Q4 23	-$694.4K	-$697.7K
Q1 24	-$2M	-$2M
Q2 24	-$2M	-$2M
Q3 24	-$2M	-$2M
Q4 24	-$2M	-$2M
Q1 25	-$5M	-$5M
Q2 25	-$3M	-$3M
Q3 25	-$2M	-$2M
Q4 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q3 22	$0
Q4 22	$2.3K
Q1 23	$0
Q2 23	$2
Q3 23	$1
Q4 23	$3.3K
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$6.5K
Q1 25	$3.3K
Q2 25	$0
Q3 25	$1.9K
Q4 25	$3.3K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	—	+2363.2%
Q2 23	—	+112.7%
Q3 23	—	+17.5%
Q4 23	—	+17.5%
Q1 24	—	-58.2%
Q2 24	—	+140.4%
Q3 24	—	+115.3%
Q4 24	—	+238.5%
Q1 25	—	+123.7%
Q2 25	—	+51.4%
Q3 25	—	+11.1%
Q4 25	—	-28.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	—
Q3 22	$0	—
Q4 22	$0	—
Q1 23	$286.4K	—
Q2 23	$0	—
Q3 23	$153.1K	—
Q4 23	$103.1K	—
Q1 24	$162.7K	—
Q2 24	$193.1K	—
Q3 24	$300.0K	—
Q4 24	$763.2K	—
Q1 25	$548.8K	—
Q2 25	$592.6K	—
Q3 25	$473.4K	—
Q4 25	$325.1K	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$17.9K	$152.7K
Q2 22	$202.2K	$280.1K
Q3 22	$56.4K	$915.9K
Q4 22	$116.4K	$1M
Q1 23	$3M	$964.7K
Q2 23	$241.0K	$784.6K
Q3 23	$243.9K	$898.1K
Q4 23	$361.1K	$902.1K
Q1 24	$629.0K	$1M
Q2 24	$1M	$1M
Q3 24	$784.6K	$2M
Q4 24	$2M	$3M
Q1 25	$2M	$2M
Q2 25	$1M	$3M
Q3 25	$688.5K	$2M
Q4 25	$666.3K	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$59.6K	$0	$59.6K
Q3 22	$103.1K	$0	$103.1K
Q4 22	$32.6K	$0	$32.6K
Q1 23	$4M	$0	$4M
Q2 23	$3M	$0	$3M
Q3 23	$9M	$0	$9M
Q4 23	$8M	$0	$8M
Q1 24	$7M	$0	$7M
Q2 24	$5M	$0	$5M
Q3 24	$4M	$0	$4M
Q4 24	$10M	$0	$10M
Q1 25	$7M	$0	$7M
Q2 25	$6M	$0	$6M
Q3 25	$4M	$0	$4M
Q4 25	$4M	$0	$4M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	12M	—	—
Q2 22	12M	0.0%	—
Q3 22	12M	0.0%	—
Q4 22	776K	-93.3%	—
Q1 23	782K	+0.8%	-93.3%
Q2 23	782K	0.0%	-93.3%
Q3 23	868K	+11.1%	-92.5%
Q4 23	868K	0.0%	+11.9%
Q1 24	1M	+23.2%	+36.9%
Q2 24	1M	-0.3%	+36.6%
Q3 24	1M	+3.4%	+27.2%
Q4 24	2M	+38.1%	+75.7%
Q1 25	2M	+20.9%	+72.3%
Q2 25	2M	+6.4%	+83.8%
Q3 25	2M	+4.2%	+85.1%
Q4 25	2M	-2.5%	+30.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	3
Q1 23	$0	3
Q2 23	$0	3
Q3 23	$0	3
Q4 23	$0	4
Q1 24	$0	4
Q2 24	$0	4
Q3 24	$0	4
Q4 24	$0	4
Q1 25	$0	4
Q2 25	$0	4
Q3 25	$0	4
Q4 25	$0	1K

Revenue / Employee