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PONTE VEDRA, Fla. - Cadrenal Therapeutics, Inc. (NASDAQ:CVKD), a small-cap biotech company with a market capitalization of approximately $27 million, announced Monday it has acquired the assets of eXIthera Pharmaceuticals, including its portfolio of investigational Factor XIa inhibitors for anticoagulation therapy. According to InvestingPro analysis, the company is currently trading above its Fair Value, with analysts setting price targets between $30 and $45.
The acquisition brings Cadrenal two key drug candidates: frunexian, a Phase 2-ready intravenous Factor XIa inhibitor designed for acute care settings, and EP-7327, an oral Factor XIa inhibitor for chronic thrombotic conditions.
Under the agreement terms, eXIthera will receive milestone payments totaling up to $15 million contingent on future clinical and regulatory achievements, plus royalties on global sales upon commercialization. InvestingPro data shows that Cadrenal maintains a strong liquidity position with a current ratio of 3.56, holding more cash than debt on its balance sheet, though the company is experiencing rapid cash burn as it advances its pipeline.
"With this acquisition, Cadrenal is the only company in the world developing a novel vitamin K antagonist and Factor XIa inhibitors," said Quang X. Pham, Chairman and CEO of Cadrenal Therapeutics, according to the company’s press release.
The deal expands Cadrenal’s pipeline in the anticoagulation market, where the company is already developing tecarfarin, its lead product candidate. Tecarfarin has received Orphan Drug Designation and fast-track designation for preventing blood clots in patients with end-stage kidney disease and atrial fibrillation.
Sichuan Haisco Pharmaceuticals retains rights to frunexian in China under a pre-existing license agreement, with Cadrenal entitled to receive royalties on future sales in that market.
Factor XIa inhibitors represent a newer approach to anticoagulation that may offer high potency and selectivity while potentially reducing bleeding risks compared to current therapies.
The acquisition aligns with Cadrenal’s strategy to address gaps in anticoagulation therapy across various patient populations with cardiovascular thrombotic risk.
In other recent news, Cadrenal Therapeutics, Inc. announced the resignation of Robert Lisicki from its board of directors. The company clarified that Lisicki’s decision to step down was not due to any disagreements related to the company’s operations, policies, or practices. Additionally, Cadrenal Therapeutics has scheduled its 2025 annual meeting of stockholders for September 24, 2025. Shareholders eligible to vote at this meeting will be determined based on records as of July 28, 2025. The specifics regarding the meeting’s time and location will be detailed in the upcoming proxy statement. These developments come as part of the company’s ongoing corporate governance activities.
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