Cadrenal Therapeutics, Inc. · NASDAQ:CVKD
Cadrenal Therapeutics — Investor Presentation (September 2025)
26 slides from Cadrenal Therapeutics's investor presentation, Sep 15, 2025
Slide 1: Bridging Critical Gaps in Anticoagulation Therapeutics
1 Bridging Critical Gaps in Anticoagulation Therapeutics Cadrenal Therapeutics, Inc. Nasdaq: CVKD September 2025 Confidential
Slide 2: Forward-looking Statements
2 Forward - looking Statements This document contains forward - looking statements . In addition, from time to time, we or our representatives may make forward - looking statements orally or in writing . We base these forward - looking statements on our expectations and projections about future even
Slide 3: Cadrenal Therapeutics – Overview
3 Cadrenal Therapeutics – Overview Problem • Treatment gaps exist in the growing $38 billion global anticoagulant market • Too little anticoagulation Thrombosis (clotting); Too much anticoagulation Bleeding Solutions • Bridge gaps by developing novel and differentiated blood thinners • Tecarfari
Slide 4: A Multi-Billion-Dollar U.S. Opportunity
4 A Multi - Billion - Dollar U.S. Opportunity Addressing gaps in the $2B orphan and high - risk cardiovascular segment Atrial Fibrillation Venous Thromboembolism Orphan & High - Risk CV Conditions • 145K ESKD+AFib patients No clinically proven OAC • 15K LVAD patients No FDA - approved OAC • 500K
Slide 5: Evolution of Anticoagulant Therapy
Warfarin Limitations & Gaps • Bleeding • Monitoring/Adjustment • Metabolism • DDIs • Dietary issues DOAC Limitations & Gaps • Bleeding • No monitoring • Not adjusted • Reversibility • Failure in MHV • Continued role for VKAs Evolution of Anticoagulant Therapy Including limitations and gaps of availa
Slide 6: Poorly Controlled Anticoagulation – A Two-Edged Sword
Purpose Prevent pathological clot formation Too little Too much Greater Risk of Bleeding Greater Risk of Thrombosis (Clotting) Therapeutic range MI Stroke VTE Vascular occlusion Death Consequences of POOR control Clotting events result in adverse outcomes, with substantial costs Poorly Controlled An
Slide 7: Tecarfarin - Addressing Treatment Gaps with Warfarin
Tecarfarin - Addressing Treatment Gaps with Warfarin Tecarfarin Warfarin • VKA; Esterase metabolism • VKA; Hepatic CYP450 metabolism MoA • Widely distributed, not restricted to the liver • No variability due to CYP2C9 polymorphisms • Genetic variability in enzyme levels Target Considerations • Avoid
Slide 8: Tecarfarin - Metabolic Advantage
8 Tecarfarin - Metabolic Advantage Metabolized via an alternate pathway - abundant and essentially insatiable Avoids CYP450 bottlenecks of warfarin CYP2C19 CYP1A2 CYP1A1 CYP3A4 CYP1A1 CYP2C8 CYP1A2 CYP2C18 CYP2C9 CYP2C9 CYP2C9 CYP2C9 6 - hydroxywarfarin 8 - hydroxywarfarin 10 - hydroxywarfarin 7 - h
Slide 9: Developing Novel Drugs that Bridge Gaps in Anticoagulant Rx
Developing Novel Drugs that Bridge Gaps in Anticoagulant Rx Tecarfarin A novel VKA • Addresses important limitations of warfarin • Predictable metabolism, fewer interactions • Suitable for patients with complex medication regimens • Positive safety and efficacy data • Consistent anticoagulation cont
Slide 10: Pipeline and Current Programs
Pipeline and Current Programs Development Phase Program Target Indications Regulatory Strategy/Status Discovery Preclinical Phase I Phase II Phase III Tecarfarin (VKA - Oral) End - stage Kidney Disease (ESKD) with AFib • FDA Orphan Drug Designation Granted • FDA Fast Track Designation granted • Phas
Slide 11: Cadrenal Therapeutics
THERAPEUTICS CADRENAL
Slide 12: Tecarfarin Phase 2/3 Trial Design, Efficacy and Safety
12 Trial Design • Multi - center, randomized, double - blind - Tecarfarin vs. warfarin • 607 patients with indications for chronic anticoagulation. • Dosing of all study drugs centrally managed. • Primary endpoint - % time INR in the therapeutic range - TTR (interpolated) • Secondary Endpoint – % ob
Slide 13: Tecarfarin Maintains Consistent Exposure in Stage CKD Trial
13 Tecarfarin Maintains Consistent Exposure in Stage 4 CKD Trial Tecarfarin exposure remains stable while warfarin levels significantly increase Higher levels + longer half life = Higher bleeding risk 44 15 50 45 40 35 30 25 20 15 10 5 0 Percent Increase 20 - 8 - 10 - 5 0 5 10 15 20 25 Percent Incre
Slide 14: Tecarfarin Anticoagulation During Transition to Dialysis Phase 2 Study
14 Patients transitioning to dialysis with indications for anticoagulant Rx (including AFib) n = 25 - 30 Maintenance Plus Urgent/Acute Enroll Study End 5 - 6 months Tecarfarin Rx Tecarfarin Anticoagulation During Transition to Dialysis Phase 2 Study Stabilization Monitoring 3 - 4 weeks 16 - 20 weeks
Slide 15: Frunexian Program
15 Frunexian Program
Slide 16: Addressing Additional Treatment Gaps with Factor XIa Inhibition
16 Addressing Additional Treatment Gaps with Factor XIa Inhibition In pathological thrombosis FXI plays a fundamental role In hemostasis FXI plays a minor role Greco A et al Circulation . 2023;147:897 – 913. DOI: 10.1161/CIRCULATIONAHA.122.062353 Factor XIa inhibition presents an opportunity to prev
Slide 17: Frunexian: First & Only IV for Acute Care Periprocedural Usage
Frunexian : First & Only IV for Acute Care Periprocedural Usage Indications Half - Life MoA Asset • Complex Cardiac Surgery (CABG) (Ph 2) Short (minutes) Small molecule (IV) Frunexian Cadrenal Acute • Acute Coronary Syndrome (Ph 3) • Atrial Fibrillation (Ph 3) • Secondary Stroke Prevention (Ph 3) Mo
Slide 18: FXIa Inhibitors In the News
FXIa Inhibitors In the News □ $4B+ in recent strategic investments in next generation FXI inhibitors □ Major investments in CV programs and FXI assets led by big pharma □ Leading life science funds pursuing FXI inhibitors □ Validates frunexian FXI acquisition and strategy to bridge therapeutic gaps
Slide 19: Frunexian Phase I Data – Well-Tolerated with Attractive PK/PD
Frunexian Phase I Data – Well - Tolerated with Attractive PK/PD Attractive PK for Critical Care Setting EP - 7041 Plasma Concentration (ng/mL) 0 500 1000 1500 2000 2500 3000 Cohort 7: 0.01 mg/kg/hr Cohort 8: 0.03 mg/kg/hr Cohort 9: 0.1 mg/kg/hr Cohort 10: 0.3 mg/kg/hr Cohort 11: 0.6 mg/kg/hr C ss :
Slide 20: Development Plan & Investment Highlights
20 Development Plan & Investment Highlights
Slide 21: Near-Term Clinical Development Plans
Near - Term Clinical Development Plans 2027 Q2 Q3 Q4 Tecarfarin ESKD + AFib 2025 2026 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Dialysis Transition Study ( Open - Label ) Present Publish Enrollment Follow - up Tecarfarin LVAD LVAD Study ( Open - Label ) Enrollment Follow - up Present Key Milestones • FDA Interactions –
Slide 22: An opportunity to invest ahead of value-inflecting events
An opportunity to invest ahead of value - inflecting events Opportunity Path Forward Differentiation Unmet Need Tecarfarin • Targeted populations where DOACs are contra - indicated, unapproved, or not recommended • Continuing need for better VKA • Premium pricing • Extensive safety data (N=1,000+ do
Slide 23: Financials, Capitalization & Insider Alignment
Financials, Capitalization & Insider Alignment Cap Table $5.6 million Cash (at 6/30/2025) NONE Debt 2,046,854 Common Shares Outstanding (at 8/22/2025) 615,940 Warrants – Investors (avg. $17.82) 433,001 Stock Options Outstanding (avg. $17.48) Market Capitalization $26 million As of 8/22/2025 Insider
Slide 24: Experienced Leadership
Experienced Leadership Across clinical to commercial drug development John R. Murphy Board Member Steven Zelenkofske, DO Board Member Glynn Wilson, PhD Board Member Quang X. Pham CEO & Founder, Chairman Matthew Szot, CPA Chief Financial Officer Jeff Cole Chief Operating Officer James Ferguson, MD, F
Slide 25: Scientific Advisors
Scientific Advisors Leaders in cardiovascular innovation Mandeep, Mehra MD, MSc, FRCP Medical Director of the Brigham Heart and Vascular Center, William Harvey Distinguished Chair in Advanced Cardiovascular Medicine Richard Whitlock, MD Cardiac Surgeon and Professor of Surgery, McMaster University M
Slide 26: Contact Us
Quang X. Pham CEO & Founder quang.pham@cadrenal.com Matthew Szot CFO matthew.szot@cadrenal.com 26 Contact Us:
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