Kardigan, Inc. · NASDAQ:KARD

Kardigan — Investor Presentation (September 2026)

35 slides from Kardigan's investor presentation, September 2026

  1. Slide 1: Kardigan: Heart health, reimagined

    Kardigan: Heart health, reimagined September 2026 © 2026 Kardigan. 1

  2. Slide 2: Disclaimer

    Disclaimer This presentation includes forward-looking statements, including, but not limited to, express or implied statements about beliefs and expectations of Kardigan, Inc. (the “Company”) regarding: statements regarding the initiation, timing, progress, and results of the Company’s research and

  3. Slide 3: Powered to build the precision cardiovascular company of the future

    Powered to build the precision cardiovascular company of the future SEASONED 3 LATE-STAGE LARGE, UNDERSERVED CV LEADERSHIP TEAM PROGRAMS TARGETING MARKET HIGH UNMET NEED TRANSFORMATIVE BLUE-CHIP INVESTOR CAPITAL-EFFICIENT CV TECHNOLOGY WITH MODEL SUPPORT PROLAIO CV = cardiovascular © 2026 Kardigan.

  4. Slide 4: Cardiovascular disease has seen limited R&D despite unmet need

    Cardiovascular disease has seen limited R&D despite unmet need ~30% Annual U.S. deaths 5-15K Patients per trial with broad caused by CVD populations & MACE endpoints +$400B Annual CVD spend - 7% Phase 3 trials for CVD1 Expected to 3x in 3 decades $1.8T Expected CVD spend by 2050 5% Drugs in developm

  5. Slide 5: Our approach

    Kardigan is building the precision cardiovascular company of the future Our approach Reimagining CV drug  Targeting the root cause of disease discovery and development through biology, data, and  Studying well-defined patient populations analytics  Harnessing proprietary, transformative technolog

  6. Slide 6: Led by former MyoKardia leadership team, backed by leading healthcare investors

    Led by former MyoKardia leadership team, backed by leading healthcare investors Tassos Gianakakos Jay Edelberg, MD, PhD Bob McDowell, PhD Brianne Puglisi John Moriarty Co-founder, Chief Executive Co-founder and Co-founder and Chief Financial Officer Chief Legal Officer and Officer and Board Chair Ch

  7. Slide 7: Powered to deliver precision cardiology at scale

    Powered to deliver precision cardiology at scale Program Indication Phase 1 Phase 2 Phase 3 Upcoming milestones Genetic dilated Danicamtiv (Dani) Phase 2b/3: Topline data cardiomyopathy Direct myosin activator 1H 2027 (DCM) Ataciguat (ATA) Moderate calcific Phase 2b: 24-week interim Soluble guanylat

  8. Slide 8: Danicamtiv in genetic dilated cardiomyopathy (DCM)

    Danicamtiv in genetic dilated cardiomyopathy (DCM) Impaired systolic function © 2026 Kardigan. Confidential. Do © 2026 Not Distribute. Kardigan. 8

  9. Slide 9: Danicamtiv: designed to address underlying defects of genetic DCM

    Danicamtiv: designed to address underlying defects of genetic DCM WELL-DEFINED PATIENT POP TARGETING ROOT CAUSE CLINICAL RESULTS UPCOMING CATALYST Improved 150-200K Myosin Cardiac 1H 2027 diagnosed primary Activator Phase 2b genetic/familial DCM patients (US)1 restores myosin motor Function data rea

  10. Slide 10: Danicamtiv targets the underlying cause of genetic DCM

    Danicamtiv targets the underlying cause of genetic DCM – stabilizing myosin to restore myocardial function Myosin motor number and function are Danicamtiv is designed to stabilize myosin key to myocardial function by allowing recruitment from the “OFF" state to Inactive “OFF” myosin the “ON" state:

  11. Slide 11: Improved cardiac function observed with danicamtiv in sarcomeric DCM

    Improved cardiac function was observed following administration of danicamtiv in participants with sarcomeric DCM Phase 2a Trial – Part A1 DCM Cohort: Sarcomeric: MYH7 + TTN Other Causes Left ventricular ejection Left ventricular global Left atrial function fraction (LVEF) longitudinal strain (LVGLS

  12. Slide 12: Danicamtiv was well tolerated in DCM patients

    Danicamtiv was well tolerated in DCM patients Asset Phase 2a Study in Primary DCM – Part A Phase 2a Study in Primary DCM – Part B Study Population Primary DCM (Sarcomeric/Other causes) Sample Size n = 41 n = 19 danicamtiv 10 mg (n-2) danicamtiv 25 mg (n-1) Treatment Arms danicamtiv 25 mg (n=41) dani

  13. Slide 13: Phase 2b/3 adaptive study in genetic DCM

    Phase 2b/3 adaptive study in genetic DCM Key study inclusion criteria: Week -2 Week 0 Week 2 Week 26 • Primary DCM, NYHA class II-IV • Known DCM-associated genetic variant, or family history of DCM • On stable GDMT for  4 weeks Active Danicamtiv 50 mg BID run-in for 24 weeks Placebo run-in Active P

  14. Slide 14: Correlation between echo parameters and pVO2 derisks clinical development

    Correlation between echo parameters and pVO2 derisks clinical development pVO2 correlated with LV function (GLS) and LA function and filling parameters Phase 2a data Phase 2b topline data: ● Part A data showed rapid change in LAFI & pVO2, improvements in function in baseline to Week 26 both the LA a

  15. Slide 15: Ataciguat in moderate calcific aortic valve stenosis (CAVS)

    Ataciguat in moderate calcific aortic valve stenosis (CAVS) Calcified aortic valve Impaired blood flow © 2026 Kardigan. Confidential. Do © 2026 Not Distribute. Kardigan. 15

  16. Slide 16: Ataciguat: a novel therapeutic for moderate CAVS

    Ataciguat: a novel therapeutic for moderate CAVS WELL-DEFINED PATIENT POP TARGETING ROOT CAUSE CLINICAL RESULTS UPCOMING CATALYST Slowed AVC Novel sGC progression ~1M activator & improved 1H 2027 moderate CAVS patients (US) is positioned to restore cardiac Phase 2b sGC function to reduce data readou

  17. Slide 17: Ataciguat: restoring sGC function to reduce AVC deposition

    Ataciguat: restoring sGC function to reduce AVC deposition Diseased aortic valve1–8 Oxidized sGC inactivates NO pathway causing calcification Nitric oxide Deposition of signaling Oxidized sGC VIC activation Osteogenic signaling (e.g., BMP2) aortic valve calcium Ataciguat in the diseased aortic valve

  18. Slide 18: Ataciguat correlated with reduced progression of calcium and aortic valve area

    Ataciguat treatment was correlated with reduced progression of calcium and aortic valve area Phase 2 Trial Aortic Valve Calcium (AVC) Aortic Valve Area (AVA) 0.1 p=0.051 § Δ Valvular Calcium (AU) 400 Δ Valve Areaa (cm2) BASELINE TO 6 MONTHS 0.0 300 CHANGE FROM 200 (0.1) 100 (0.2) 0 p=0.120 (100) # (

  19. Slide 19: Ataciguat has the potential to markedly improve cardiac structure and function

    Ataciguat has the potential to markedly improve cardiac structure and function Phase 2 Trial Measures of cardiac function Changes in diastolic dysfunction LVEF1 CARDIAC OUTPUT2 E/e’1 E/e’ VS AVC1 5 2.0 6 p=0.126 4 p=0.0417 p=0.150 15 BASELINE TO 6 MONTHS Δ Ejection Fraction 3 5 1.0 ΔCO (l/min) 2 4 1

  20. Slide 20: Ataciguat was generally safe and well tolerated across clinical trials

    Ataciguat was generally safe and well tolerated across clinical trials, with AE types and severity similar to placebo and across all dose regimens Phase 1b Safety & Tolerability Study in CAVS Phase 2 Efficacy Study in CAVS Asset (13-005387) (14-006469) Study Population mild to moderate AS moderate A

  21. Slide 21: Phase 2b trial in moderate CAVS

    Phase 2b trial in moderate CAVS Key study inclusion criteria: Week 0 Week 24 Week 48 Week 156 • Adults ≥50 years with moderate CAVS • AVA of ≥1.0 cm to ≤1.50 cm2 • AVC 300-1200 AU (women) or 300-2000 AU (men) Ataciguat 200 mg QD for up to 156 weeks Key endpoints: Safety 4-week R n=132 follow-up scre

  22. Slide 22: Phase 2b 24-week AVC data derisks further clinical development

    Phase 2b 24-week AVC data derisks further clinical development What we know now The mechanistic bridge What it potentially signals Cardiopulmonary function correlates to Ataciguat (ATA) is designed to slow AVC, If 24-week AVC slowing is confirmed, the 48- cardiac filling: which drives the pathway to

  23. Slide 23: Tonlamarsen in acute severe hypertension (ASH)

    Tonlamarsen in acute severe hypertension (ASH) Sudden increases in arterial pressure © 2026 Kardigan. Confidential. Do © 2026 Not Distribute. Kardigan. 23

  24. Slide 24: Tonlamarsen: a targeted approach addressing ASH

    Tonlamarsen: a targeted approach addressing ASH WELL-DEFINED PATIENT POP TARGETING ROOT CAUSE CLINICAL RESULTS UPCOMING CATALYST AGT ~2M Reduced BP 1H 2027 ASH hospitalizations / modulator & BP surges Phase 2b designed to reduce year (US)1 in Phase 2 trial data readout hepatic AGT to break the stres

  25. Slide 25: Stress-driven biology supports angiotensinogen as a target in ASH

    Stress-driven biology supports angiotensinogen (AGT) as a target in acute severe hypertension (ASH) Stress and cortisol1 AGT expression tightly correlates with BP elevation TLA under stress Liver-targeted AGT suppression attenuates stress-induced BP increases AGT drives ASH surges stress-mediated In

  26. Slide 26: Tonlamarsen correlated with robust AGT modulation and durable reduction in oSBP

    Treatment with tonlamarsen was correlated with robust AGT modulation and durable reduction in oSBP out to Week 20 Phase 2 Trial in uHTN Tonlamarsen (5 doses) Tonlamarsen (1 dose) Measures of target engagement Changes in SBP of high burden patients Mean change in plasma angiotensinogen Patients with

  27. Slide 27: Home SBP surges reduced and sustained in 5-dose arm

    hSBP surges (≥150 mmHg) were reduced and sustained in 5-dose arm Self-assessed (Prolaio) home SBP surges (≥150 mmHg) Part Aa: Part Ba: Part Cb: Randomized double-blind Placebo lead-in Active run-in treatment • Acute severe hypertension (ASH) is characterized by 100 78.0% BP surges that drive recurre

  28. Slide 28: Tonlamarsen was well tolerated: no treatment-related hyperkalemia or hypotension

    Tonlamarsen was well tolerated: no treatment-related hyperkalemia or hypotension Tonlamarsen safety profile supports use in high-risk populations Tonlamarsen Tonlamarsen (1 Dose) (5 Total Doses) Any serious AE 2% 5% Hypotensiona 0% 1% Common AEs with current and Serum potassium >5.5 mmol/L 2% 0% in-

  29. Slide 29: Phase 2b trial in acute severe hypertension (ASH)

    Phase 2b trial in acute severe hypertension (ASH) Key study inclusion criteria: Week 0 Week 4 Week 8 Week 12 • ASH patients hospitalized with any SBP ≥180 mmHg and/or DBP ≥110 mmHg • Enrollment within 7 days post- Tonlamarsen + HTN SoC QMT for 3 months discharge with SBP ≥145 mmHg Safety follow-up H

  30. Slide 30: Harnessing technology

    Harnessing technology © 2026 Kardigan. 30

  31. Slide 31: Reimagining clinical trials with Prolaio

    Reimagining clinical trials with Prolaio TM TRADITIONAL CVD CLINICAL TRIAL MODEL Episodic in-clinic Intermittent, often Longitudinal data Real-world data at data collection with sparse data points collection providing scale rather than limited visibility into reduce signal and enhanced visibility in

  32. Slide 32: Harnessing proprietary, transformative technology with Prolaio

    Harnessing proprietary, transformative technology with Prolaio Prolaio brings together real-world data from multiple inputs—like at-home wearables, paired with EHR data—into a continuous stream Benefits today: ✓ Longitudinal data collection ✓ Real-world data at scale ✓ Near real-time visibility 4M+

  33. Slide 33: What's next

    What’s next © 2026 Kardigan. 33

  34. Slide 34: Multiple high-value clinical milestones expected across all three late-stage programs

    Multiple high-value clinical milestones expected across all three late-stage programs in next 12-18 months Program U.S. Patients Trial Upcoming Catalysts ~150-200K 1H 2027 DANICAMTIV PATIENTS1 Phase 2b: 6-month topline data Phase 2b: 24-week interim data 1H 2027 ~1M ATACIGUAT PATIENTS2 Phase 2b: 48-

  35. Slide 35: Thank you

    Thank you © 2026 Kardigan. 35

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