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    KARD

    Kardigan, Inc.

    Company overview

    Market capitalization
    $1.38B
    Employees
    241
    Latest publication
    2026-09-29
    About Kardigan, Inc.

    Kardigan, Inc. operates as a biopharmaceutical company focused on developing medicines for cardiovascular diseases. The company develops and provides a portfolio of medicines that target the underlying pathophysiology of cardiovascular diseases, including primary and secondary cardiomyopathies leading to heart failure. It utilizes a proprietary research and development platform that integrates AI-based tools, real-world clinical data, and cardiac-specific analytics to optimize clinical study design, patient screening, and efficacy tracking. The company incorporates Prolaio's cardiovascular data collection and analytics platform, which includes FDA-cleared algorithms and high-density patient data, to support drug development and clinical intelligence. The company engages in strategic in-licensing and acquisitions to expand its pipeline of targeted treatments. Kardigan serves biopharmaceutical companies, cardiovascular researchers, and healthcare providers in the cardiology sector. The company was formerly known as EnCarda, Inc. and changed its name to Kardigan, Inc. in December 2024. The company was founded in 2023 and is based in Princeton, New Jersey.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ1 20252025-03-31 · USD
    Total Revenue0USD0USD
    Research Development45,067,000USD18,774,000USD
    Selling General Administrative13,643,000USD7,304,000USD
    Total Operating Expenses58,710,000USD26,078,000USD
    Operating Income-58,710,000USD-26,078,000USD
    Interest Income2,793,000USD832,000USD
    Net Interest Income2,793,000USD832,000USD
    Income Before Tax-56,071,000USD-22,186,000USD
    Tax Provision0USD-4,167,000USD
    Net Income-56,071,000USD-18,019,000USD
    Net Income From Continuing Ops-56,071,000USD-18,019,000USD
    Reconciled Depreciation2,118,000USD752,000USD
    Total Other Income Expense Net-154,000USD3,060,000USD
    SourceLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USD
    Total Revenue0USD0USD
    Research Development153,086,000USD84,294,000USD
    Selling General Administrative48,750,000USD12,362,000USD
    Total Operating Expenses201,836,000USD96,656,000USD
    Operating Income-201,836,000USD-96,656,000USD
    Interest Income6,850,000USD1,293,000USD
    Net Interest Income6,850,000USD1,293,000USD
    Income Before Tax-196,453,000USD-88,658,000USD
    Tax Provision-4,512,000USD0USD
    Net Income-191,941,000USD-88,658,000USD
    Net Income From Continuing Ops-191,941,000USD-88,658,000USD
    Reconciled Depreciation5,847,000USD346,000USD
    Total Other Income Expense Net-1,467,000USD6,705,000USD
    SourceLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USD
    Total Assets721,786,000USD348,190,000USD
    Cash And Equivalents384,005,000USD—
    Cash And Short Term Investments660,700,000USD—
    Total Current Assets610,163,000USD298,134,000USD
    Other Current Assets12,568,000USD11,026,000USD
    Other Non Current Assets2,776,000USD—
    Total Liabilities106,264,000USD—
    Total Current Liabilities70,003,000USD31,665,000USD
    Other Non Current Liabilities1,361,000USD—
    Total Stockholder Equity615,522,000USD-300,626,000USD
    Total Equity Including Noncontrolling Interest615,522,000USD—
    Property Plant Equipment Net18,792,000USD19,278,000USD
    Intangible Assets26,418,000USD26,193,000USD
    Accounts Payable14,018,000USD9,147,000USD
    Short Term Debt3,752,000USD—
    Common Stock1,000USD—
    Retained Earnings-453,396,000USD-337,160,000USD
    Accumulated Other Comprehensive Income-235,000USD—
    Total Liab—648,816,000USD
    Other Current Liab—3,200,000USD
    Capital Stock—0USD
    Cash—81,548,000USD
    Short Term Investments—205,560,000USD
    Property Plant Equipment Gross—20,714,000USD
    Non Current Assets Total—50,056,000USD
    Non Current Liabilities Total—617,151,000USD
    Non Current Liabilities Other—9,353,000USD
    Non Currrent Assets Other—4,585,000USD
    Net Working Capital—266,469,000USD
    Unclassified Current Liabilities—19,318,000USD
    Unclassified Non Current Liabilities—607,798,000USD
    Unclassified Equity—36,534,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USD
    Total Assets390,942,000USD63,526,000USD
    Intangible Assets23,225,000USD—
    Other Current Assets9,868,000USD916,000USD
    Total Liab641,277,000USD146,720,000USD
    Total Stockholder Equity-250,335,000USD-83,194,000USD
    Other Current Liab5,766,000USD263,000USD
    Capital Stock0USD0USD
    Retained Earnings-281,089,000USD-89,148,000USD
    Cash108,989,000USD49,402,000USD
    Total Current Assets345,353,000USD50,318,000USD
    Total Current Liabilities37,536,000USD8,285,000USD
    Short Term Investments226,496,000USD0USD
    Accounts Payable7,990,000USD3,861,000USD
    Property Plant Equipment Net18,234,000USD11,133,000USD
    Property Plant Equipment Gross19,247,000USD11,144,000USD
    Non Current Assets Total45,589,000USD13,208,000USD
    Non Current Liabilities Total603,741,000USD138,435,000USD
    Non Current Liabilities Other6,902,000USD9,649,000USD
    Non Currrent Assets Other4,130,000USD2,075,000USD
    Net Working Capital307,817,000USD42,033,000USD
    Unclassified Current Liabilities23,780,000USD4,161,000USD
    Unclassified Non Current Liabilities596,839,000USD128,786,000USD
    Unclassified Equity30,754,000USD5,954,000USD
    SourceLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Depreciation3,221,000USD
    Stock Based Compensation17,053,000USD
    Deferred Income Tax0USD
    Other Non Cash Items2,570,000USD
    Change To Liabilities4,696,000USD
    Change In Working Capital3,242,000USD
    Operating Cash Flow-107,327,000USD
    Capital Expenditures-2,090,000USD
    Net Investments-49,992,000USD
    Other Investing Activities0USD
    Unclassified Investing Cash Flow-2,810,000USD
    Investing Cash Flow-54,892,000USD
    Financing Cash Flow437,235,000USD
    Change In Cash275,016,000USD
    End Cash Flow384,545,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ1 20252025-03-31 · USD
    Net Income-56,071,000USD-18,019,000USD
    Depreciation2,118,000USD752,000USD
    Stock Based Compensation5,358,000USD2,938,000USD
    Other Non Cash Items-3,577,000USD-2,658,000USD
    Change In Working Capital-4,604,000USD-246,000USD
    Total Cash From Operating Activities-56,776,000USD-21,400,000USD
    Capital Expenditures-2,633,000USD-542,000USD
    Free Cash Flow-59,409,000USD-21,942,000USD
    Investments21,645,000USD0USD
    Total Cash From Financing Activities10,323,000USD100,000,000USD
    Issuance Of Capital Stock9,997,000USD100,000,000USD
    Change In Cash-27,441,000USD74,097,000USD
    Begin Period Cash Flow109,529,000USD49,815,000USD
    End Period Cash Flow82,088,000USD123,912,000USD
    Unclassified Operating Cash Flow—-4,167,000USD
    SourceLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USD
    Net Income-191,941,000USD-88,658,000USD
    Depreciation5,847,000USD346,000USD
    Stock Based Compensation15,853,000USD5,954,000USD
    Other Non Cash Items2,910,000USD58,681,000USD
    Change In Working Capital6,427,000USD4,852,000USD
    Total Cash From Operating Activities-151,056,000USD-18,825,000USD
    Capital Expenditures-6,640,000USD-36,419,000USD
    Free Cash Flow-157,696,000USD-55,244,000USD
    Investments-226,436,000USD0USD
    Net Borrowings0USD600,000USD
    Total Cash From Financing Activities447,807,000USD105,009,000USD
    Issuance Of Capital Stock453,608,000USD102,044,000USD
    Change In Cash59,714,000USD49,765,000USD
    Begin Period Cash Flow49,815,000USD50,000USD
    End Period Cash Flow109,529,000USD49,815,000USD
    Unclassified Operating Cash Flow9,848,000USD—
    Unclassified Financing Cash Flow-5,801,000USD2,365,000USD
    SourceLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.