Cardiol Therapeutics Inc. Class A · TSX:CRDL
Cardiol Therapeutics Inc. Class A — Investor Presentation (March 2026)
41 slides from Cardiol Therapeutics Inc. Class A's investor presentation, March 2026
Slide 1: Targeting Inflammation in Heart Disease
Targeting Inflammation in Heart Disease CORPORATE PRESENTATION | MARCH 2026 NASDAQ: CRDL | TSX: CRDL WWW.CARDIOLRX.COM 1
Slide 2: Notice to Reader
NOTICE TO READER In this presentation, all amounts are in Canadian dollars, unless otherwise indicated. Any graphs, tables, or other information in this presentation demonstrating the historical performance of Cardiol Therapeutics Inc. (“Cardiol”) or any other entity contained in this presentation a
Slide 3: About Cardiol Therapeutics
About Cardiol Therapeutics Developing products that modulate inflammasome pathway activation, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure. CARDIOLRX™ CRD-38 ORAL
Slide 4: Advancing Novel Therapeutics For Inflammatory Heart Disease
Advancing Novel Therapeutics For Inflammatory Heart Disease Inflammatory heart disease, which includes recurrent pericarditis, acute Late-stage Pipeline Supporting myocarditis, and heart failure, contributes to high morbidity and mortality Multiple Underserved Markets rates, and markedly reduced qua
Slide 5: Late-stage Clinical Pipeline in Pericarditis and Myocarditis, with IND-enabling Program in Heart Failure
Late-stage Clinical Pipeline in Pericarditis and Myocarditis, with IND-enabling Program in Heart Failure PRODUCT INDICATION PRE-CLINICAL PHASE I PHASE II PHASE III Recurrent MAVERIC MECHANISM OF ACTION Pericarditis Phase III (CardiolRx™ & CRD-38) CardiolRx™ • Modulate inflammasome Oral * pathway act
Slide 6: Near-term Value-driving Catalysts
Near-term Value-driving Catalysts ARCHER Phase II results de-risk MAVERIC Phase III and support expansion into additional orphan indications and heart failure. CLINICAL PROOF-OF-CONCEPT LATE-STAGE MOMENTUM PIPELINE EXPANSION UNDERWAY • ARCHER Phase II results published • MAVERIC Phase III >50% targe
Slide 7: MAVERIC Phase III Program
MAVERIC Phase III Program Advancing Toward Pivotal Readout in Recurrent Pericarditis 7
Slide 8: Pericarditis
Pericarditis Responsible for 5% of emergency room admissions for chest pain. N O R M A L HE A R T P E R IC A R D ITIS 160,000/38,000 18,000 Pericarditis/Recurrent Pericarditis Pericarditis patients hospitalizations per year in the United States in the United States 4.7 – 6.2 years Duration of recurr
Slide 9: Recurrent Pericarditis Treatment Pathway
Recurrent Pericarditis Treatment Pathway From first-line anti-inflammatories to advanced biologics, challenges and limitations persist for patients along the current care pathway. TREATMENT PATHWAY 1 st LINE 2 nd LINE 3 rd LINE CURRENT NSAID + Interleukin-1 TREATMENTS Corticosteroid colchicine block
Slide 10: MAvERIC Phase II Study
MAvERIC Phase II Study Multi-center, open-label, pilot study to investigate the safety and efficacy of CardiolRx™ administered over 26 weeks in 27 patients with recurrent pericarditis. Results presented at the American Heart Association Scientific Sessions 2024 PRIMARY ENDPOINT • Change in pericardi
Slide 11: MAvERIC Phase II Study Design
MAvERIC Phase II Study Design 27 patients enrolled (met ESC criteria) → 24 progressed to Extension Period on CardiolRx™. CARDIOLRX™ 8-Week Primary Endpoint titration* over initial 10 days CardiolRx™ + baseline medications Withdrawal of background medications† while continuing CardiolRx™ BASELINE & S
Slide 12: CardiolRx Resulted in Marked, Rapid, Durable Reduction in Pericarditis Pain
CardiolRx™ Resulted in a Marked, Rapid, and Durable Reduction in Pericarditis Pain CHANGE IN NRS PAIN SCORE OVER 26 WEEKS 10 9 TREATMENT PERIOD (N=27) EXTENSION PERIOD (N=24) C a r di o l R x ™ + ba s e l i n e me di ca ti o n s Wi thdr a w a l o f ba ckg r o u n d me di ca ti o n s w hi l e co n ti
Slide 13: CardiolRx Resulted in Rapid Reduction in Inflammation (CRP)
CardiolRx™ Resulted in a Clinically Meaningful and Rapid Reduction in Inflammation (CRP) CHANGE IN CRP LEVEL OVER 26 WEEKS 3.0 TREATMENT PERIOD (N=27) EXTENSION PERIOD (N=24) C-REACTIVE PROTEIN (mg/dL) C a r di o l R x ™ + ba s e l i n e me di ca ti o n s Wi thdr a w a l o f ba ckg r o u n d me di c
Slide 14: CardiolRx Substantially Reduced Pericarditis Events Per Year
CardiolRx™ Substantially Reduced Pericarditis Events Per Year Treatment shown to be safe and well tolerated with 95% study drug compliance. 5.8 0.9 71% EVENTS PER YEAR PRIOR TO THE STUDY of patients (17/24) EVENTS PER YEAR experienced no recurrence DURING THE STUDY in the Extension Period 14
Slide 15: MAvERIC Phase II Results Summary
MAvERIC Phase II Results Summary Results presented at the American Heart Association Scientific Sessions 2024. CLINICAL FINDINGS KEY TAKEAWAYS • In patients with recurrent pericarditis, CardiolRx™ was • The MAvERIC study provides clinical evidence that associated with impacts on relevant endpoints:
Slide 16: MAVERIC Phase III Trial
MAVERIC Phase III Trial A pivotal multi-national, double-blind, randomized, placebo-controlled trial designed to demonstrate the impact of CardiolRx™ on pericarditis recurrence in >110 patients. Target enrollment of 100% in H1 2026; >50% achieved. PRIMARY ENDPOINT • Number of patients (percentage) f
Slide 17: MAVERIC Phase III Trial Design
MAVERIC Phase III Trial Design Enriched patient population at high risk for pericarditis recurrence → up to 75% expected to experience disease relapse within 12 weeks of IL-1 blocker withdrawal*. CardiolRx™ STUDY PARTICIPANTS • ≥18 years RANDOMIZATION 1:1 • Stable disease SCREENING 10 – 16 days prio
Slide 18: MAVERIC Program Executive and Trial Steering Committees
MAVERIC Program Executive and Trial Steering Committees (SC) Allan Klein, MD, CM Massimo Imazio, MD, FESC MAVERIC Program Chair MAVERIC Program Co-chair Director, Center for the Diagnosis and Treatment of Pericardial Department of Medicine (DMED), University of Udine and Diseases, and Professor of M
Slide 19: Large Market Opportunity in Recurrent Pericarditis
Large Market Opportunity in Recurrent Pericarditis CardiolRx™ is being developed to offer an accessible and non–immune-suppressing profile with disease- modifying therapeutic potential by targeting inflammasome activation underlying inflammation. THE OPPORTUNITY HIGH UNMET NEED • Avoid immunosuppres
Slide 20: ARCHER Phase II Program
ARCHER Phase II Program The First Evidence of Structural Heart Recovery in Acute Myocarditis 20
Slide 21: Acute Myocarditis
Acute Myocarditis A leading cause of sudden cardiac death in people under 35 years of age. N O R M A L HE A R T M YO C A R D ITIS 46,000 32,400 Acute Myocarditis Deaths worldwide due patients in the United States to myocarditis (2019) 4–6% In-hospital mortality • Inflammatory condition of the heart
Slide 22: CardiolRx API Attenuates Myocarditis-induced Fibrosis
CardiolRx™ API Attenuates Myocarditis-induced Fibrosis Protection against inflammatory cell infiltration also demonstrated (not shown). SECTIONS OF HEART TISSUE Healthy Tissue Myocarditis Myocarditis + CardiolRx™ API Effects on myocardial fibrotic remodeling induced in a model of experimental autoim
Slide 23: Steering Committee for the ARCHER Trial
Steering Committee for the ARCHER Trial Dennis M. McNamara, MD Leslie T. Cooper, Jr., MD Chair Co-Chair Professor of Medicine at the University of Pittsburgh and Director of the Heart General cardiologist and the Elizabeth C. Lane, Ph.D. and M. Nadine Zimmerman, Failure/Transplantation Program at th
Slide 24: ARCHER Phase II Trial
ARCHER Phase II Trial Multi-center, international, double-blind, placebo-controlled trial to investigate the safety and efficacy of CardiolRx™ administered over 12 weeks in 109 patients with clinically diagnosed acute myocarditis. Results presented at the European Society of PRIMARY EFFICACY ENDPOIN
Slide 25: ARCHER Phase II Study Design
ARCHER Phase II Study Design One of the largest industry-sponsored clinical trials in acute myocarditis. CardiolRx™ STUDY PARTICIPANTS RANDOMIZATION 1:1 • ≥18 years SCREENING ENDPOINT Starting with 21 Day 12-WEEK ASSESSMENT • Stable disease ≤10 days of Day 1 Dose Escalation TREATMENT PERIOD AT 12 WE
Slide 26: ARCHER CMR Measurements
ARCHER CMR Measurements: Characterize Myocardial Tissue; Enhance Mechanistic Insights; Associate with HFpEF Outcomes EXTRACELLULAR VOLUME (ECV) INTRACELLULAR VOLUME (ICV) LEFT VENTRICULAR (LV) MASS • Reflects inflammation and fibrosis • Reflects cardiomyocyte size • Integrated effect of ECV and ICV
Slide 27: CardiolRx Induced Notable Reductions in ECV and ICV
CardiolRx™ Induced Notable Reductions in ECV and ICV EXTRACELLULAR VOLUME (ECV) INTRACELLULAR VOLUME (ICV) Reduction of -3.67mL Reduction of -5.57mL 98 42 p=0.0928 96 p=0.0538 Extracellular Volume (mL) 94 Intracellular Volume (mL) 40 92 38 Mean (SE) Mean (SE) 90 36 88 86 34 84 32 82 30 80 Baseline 1
Slide 28: CardiolRx Significantly Reduced LV Mass
CardiolRx™ Significantly Reduced LV Mass LEFT VENTRICULAR (LV) MASS Reduction of -9.23 grams 145 p=0.0117 140 Left Ventricular Mass (g) 135 Mean (SE) 130 125 120 115 Baseline 12 Weeks CardiolRx™ n=49 n=49 Placebo n=50 n=50 McNamara DM, Cooper LT, Friedrich MG, et al. ESC Heart Fail. 2026. Published
Slide 29: LV Mass Reductions in ARCHER Comparable to Widely-prescribed Therapies
LV Mass Reductions in ARCHER are Comparable to Those Observed with Widely-prescribed Therapies for Heart Failure, Diabetes, and Obesity PATIENT TREATMENT PRODUCT # OF PATIENTS Δ in LV Mass (g) POPULATION DURATION CardiolRx™ Acute Myocarditis 12 weeks 99 - 9.2 Tirzepatide (Mounjaro®; Zepbound®) Obesi
Slide 30: ARCHER Phase II Results Summary
ARCHER Phase II Results Summary Results presented at the European Society of Cardiology Meeting on Myocardial & Pericardial Disease 2025. Published online ahead-of-print on 16 January 2026, in ESC Heart Failure. CLINICAL FINDINGS MECHANISTIC INSIGHT • In patients with acute myocarditis, CardiolRx™ w
Slide 31: Key Takeaways from ARCHER Results
Key Takeaways from ARCHER Results The ARCHER study provides compelling clinical evidence that CardiolRx™ reduces inflammation in the heart. EFFICACY EVIDENCE TRANSLATIONAL CLINICAL STRATEGY & VALIDATION PIPELINE IMPACT • First demonstration of structural improvement • Bridges pre-clinical success •
Slide 32: CRD-38 Program
CRD-38 Program Novel Subcutaneous Drug in Development for Heart Failure 32
Slide 33: Heart Failure
Heart Failure A leading cause of death and hospitalization affecting more than 64 million people globally. • Chronic, progressive syndrome; heart 8M $30B Patients in the U.S. Associated healthcare muscle is unable to pump enough blood by 2030 costs in the U.S. to meet the body’s needs. • Patients ex
Slide 34: Types of Heart Failure
Types of Heart Failure Although the role of inflammation is well recognized, there are no approved therapies that specifically target this process in clinical practice. Heart Failure With Heart Failure With Preserved Ejection Fraction (HFpEF) Reduced Ejection Fraction (HFrEF) Enlarged ventricles Thi
Slide 35: CRD-38: Potential Treatment For HFpEF
CRD-38: Potential Treatment For HFpEF PREVENTS INFLAMMATION PREVENTS CARDIAC REMODELING Lozano O et al. Heart Failure Society of America Annual Scientific Meeting 2023: ePoster Viewing Session III. October 7, 2023. CRD-38 API affects cardiac remodeling and inflammation in a model of heart failure wi
Slide 36: CRD-38: Potential Treatment to Prevent Heart Failure Dysfunction & Remodeling
CRD-38: Potential Treatment to Prevent Heart Failure Dysfunction & Remodeling PREVENTS MYOCYTE CELL HYPERTOPHY, PROTECTS AGAINST CARDIAC DYSFUNCTION FIBROSIS, AND INFLAMMATION Cannabidiol (mg/kg) Cannabidiol (mg/kg) CTRL HF HF+Cannabidol Cannabidiol (mg/kg) García-Rivas, G, Lozano, O, Bernal-Ramírez
Slide 37: Near-term Value-driving Catalysts
Near-term Value-driving Catalysts ARCHER Phase II results de-risk MAVERIC Phase III and support expansion into additional orphan indications and heart failure. CLINICAL PROOF-OF-CONCEPT LATE-STAGE MOMENTUM PIPELINE EXPANSION UNDERWAY • ARCHER Phase II results published • MAVERIC Phase III >50% targe
Slide 38: Accomplished Management Team
Accomplished Management Team David Elsley, MBA Andrew Hamer, MBChB President and Chief Executive Officer Chief Medical Officer and Head of R&D Founder and former President and CEO of Vasogen Inc. More than 30 Thirty years of global life sciences industry, medical affairs, and years’ experience devel
Slide 39: Experienced Board of Directors
Experienced Board of Directors Guillermo Torre-Amione, MD, PhD David Elsley, MBA Chairman President and Chief Executive Officer Professor of Cardiology at the Methodist Hospital Research Institute, Professor of Founder and former President and CEO of Vasogen Inc. More than 30 years’ Medicine at the
Slide 40: World-class Scientific Advisory Board
World-class Scientific Advisory Board Dr. Paul M. Ridker, MD, MPH Dr. Bruce McManus, PhD, MD Dr. Joseph A. Hill, MD, PhD Director of the Center for Cardiovascular Disease Prevention, Professor Emeritus, Department of Pathology and Laboratory Professor of Internal Medicine and Molecular Biology, Chie
Slide 41: Targeting Inflammation in Heart Disease
Targeting Inflammation in Heart Disease Late-stage Addressing Unmet Targeting Collaborations With Multiple Near-term Clinical Program Needs In Growing Billion-dollar International Centers Value-driving In Hear t Disease Patient Populations Market Oppor tunities Of Excellence Catalysts N A S DAQ : C
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