24/7 Market News Snapshot 10 September, 2024 – Cardiol Therapeutics Inc. Class A Common Shares (NASDAQ:CRDL)

September 10, 2024

DENVER, Colo., 10 September, 2024 (247marketnews.com) – (NASDAQ:CRDL) are discussed in this article.
Cardiol Therapeutics Inc. (CRDL) has generated significant investor interest, with its stock experiencing a notable increase of approximately 7.34%, opening at $2.08 and reaching a current price of $2.136, up from the previous close of $1.990. This bullish momentum is underscored by a trading volume exceeding 611,000 shares, indicating heightened market activity and positive sentiment surrounding the biotech firm. Technical analysis suggests support around the $2.00 mark and resistance near $2.15, prompting analysts to closely observe price trends and trading volume for potential further gains.

In a noteworthy development, Cardiol Therapeutics is set to present compelling new data from its Phase II MAvERIC-Pilot study on CardiolRx™ at the American Heart Association Scientific Sessions 2024, scheduled for November 18. This study is pivotal for its implications on the treatment of symptomatic recurrent pericarditis, a condition that adversely affects many patients’ quality of life. The presentation will be delivered by Dr. S. Allen Luis from the Mayo Clinic, a lead investigator who has contributed significantly to the research.

Preliminary findings from the MAvERIC-Pilot study reveal that participants receiving CardiolRx™ exhibited substantial reductions in both pain and inflammation associated with pericarditis within just eight weeks of treatment. Cardiol Therapeutics’ President and CEO, David Elsley, expressed enthusiasm regarding the acceptance of the study for presentation, highlighting its potential to revolutionize cardiovascular care. With the study involving 27 adults, the results shed light on CardiolRx™ as a promising non-immunosuppressive option, marking a crucial step towards a Phase III trial. Chief Medical Officer Dr. Andrew Hamer emphasized the importance of these findings in developing effective therapeutic strategies for chronic inflammatory heart conditions. Cardiol Therapeutics continues to progress its mission of advancing heart disease management through innovative research and therapies.

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