Cadrenal Therapeutics, Inc. · NASDAQ:CVKD
Cadrenal Therapeutics — Investor Presentation (December 2025)
23 slides from Cadrenal Therapeutics's investor presentation, Dec 11, 2025
Slide 1: Bridging Important Gaps in Anticoagulation Management for High-Risk Patients
Bridging Important Gaps in Anticoagulation Management for High - Risk Patients December 2025 Corporate Presentation NASDAQ: CVKD
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: Our Mission
3 Our Mission Develop novel, differentiated products that bridge critical gaps in current acute and chronic anticoagulation management for rare and high - risk patient populations.
Slide 4: Addressing gaps in the $40B anticoagulation market
4 A ddressing gaps in the $40B anticoagulation market VLX - 1005 expands our portfolio with a novel immune - targeted approach - 12 - LOX inhibition • A parenteral (intravenous) 12 - Lipoxygenase (12 - LOX) inhibitor designed to block key pathways in immune - mediated platelet activation • Blocks pl
Slide 5: Our development pipeline is focused on rare and high-risk indications
5 Our development pipeline is focused on rare and high - risk indications Pivotal Phase II Phase I Preclinical Regulatory Form Indication MOA Program • FDA Orphan Drug Designation • EMA Orphan Drug Designation • FDA Fast Track Designation IV HIT 12 - LOX Inhibitor VLX - 1005 • FDA Orphan Drug Design
Slide 6: Target: Immune-mediated Platelet Activation
Target: Immune - mediated Platelet Activation VLX - 1005
Slide 7: Dire Outcomes of HIT Require a New Approach to Treatment
7 Dire Outcomes of HIT Require a New Approach to Treatment Epidemiology (US): ~300,000 suspected patients/year ~50,000 confirmed acute diagnoses/year Adapted from May J, Westbrook B, Cuker A. Heparin - induced thrombocytopenia: An illustrated review. Res Pract Thromb Haemost. 2023 Jun 22;7(5):100283
Slide 8: Heparin Induced Thrombocytopenia (HIT): A Rare but Serious Immune Reaction to Heparin
8 Heparin Induced Thrombocytopenia (HIT) A Rare but Serious Immune Reaction to Heparin CVD Interventions Use Heparin • Cardiovascular disease (CVD) is on the rise across the world due to aging populations • Complications from CVD also expected to increase Heparin Usage Leads to HIT • SoC for CVD int
Slide 9: The only clinical stage 12-LOX inhibitor
9 VLX - 1005: The only clinical stage 12 - LOX inhibitor • ~150K – 300K patients Epidemiology • $800M+ Est. Peak Sales 1 • Limited set of commercial non - heparin anticoagulants, led by argatroban • No other products in clinical development Competitive Outlook • Potential to demonstrate clear value
Slide 10: A Unique Mechanism of Action
10 VLX - 1005 – A Unique Mechanism of Action 12 - LOX inhibition treats both platelet activation and thrombus formation in HIT VLX - 1005 1 2 3 • HIT is a rare, potentially life - threatening reaction to heparin driven by an immune response to heparin - PF4 complexes • 12 - LOX is a key immune signa
Slide 11: High Unmet Need in HIT
11 High Unmet Need in HIT HIT patients face significant risk of severe complications and death; legacy anticoagulation pharmacotherapy is marginally effective in this population and pose further major bleeding risks While heparin use is declining, it is still a key cornerstone of care, particularly
Slide 12: Inhibits Thrombus Formation without Altering Normal Hemostasis
12 Vehicle Control VLX - 1005 (7.5 mg/kg, PO) 2 1 Arterioscl Throm Vasc Biol . 2017 ;37:1828 All images are mouse data 2 VLX - 1005 was dosed 15h prior to imaging Inhibition of platelet aggregation without increasing bleeding is an important leap forward in safety over existing therapies 0 Sec 30 se
Slide 13: Effective in an Animal Model of HIT
13 VLX - 1005 Effective in an Animal Model of HIT Renna SA et al. Arterioscler Thromb Vasc Biol . 2023;43:1808 – 1817 DOI: 10.1161/ATVBAHA.123.319434 1500 1000 500 0 2000 Thromosis Score ns Thrombosis (30 mg/kg IP) Pulmonary Embolism Standard of Care (argatroban) has no impact on: • Prevention of pu
Slide 14: Phase 1 Studies Demonstrate Well-Tolerated Profile
14 Phase 1 Studies Demonstrate VLX - 1005 Well - Tolerated VLX - 1005 well - tolerated in Phase 1 SAD/MAD and DDI studies • Over 100 subjects dosed • Adverse events were uncommon and mild in severity • Orphan Drug Designation in US and EMA • Fast Track Designation in US Composite SAD/MAD results: •
Slide 15: Phase 2 PoC Study (ALATHEA)
15 VLX - 1005 Phase 2 PoC Study (ALATHEA) Primary Endpoint: Time to Platelet Count Recovery Secondary Endpoint: Composite Thromboembolic Events At – risk pts screened for suspected HIT • 4T Score > 4 (HIT likely) • Immunoassay positive • Serotonin assay sent Randomized VLX - 1005 + SOC* Placebo + SO
Slide 16: Near-Term Plan and Estimated Timeline for 2026 Milestones
16 Near - Term Plan and Estimated Timeline for VLX - 1005 2027 2026 MILESTONES Q1 Q4 Q3 Q2 Q1 Database lock Data Analysis Publication Manuscript Pivotal Protocol Design FDA EOP2 Meeting CMC Readiness Study Start - up Pivotal Study Initiation
Slide 17: Target: Coagulation Tecarfarin and Frunexian
Target: Coagulation Tecarfarin and Frunexian
Slide 18: Tecarfarin Overview: A Novel VKA with Multiple Orphan Drug Designations
Opportunity • Only new VKA in the last 70 years • Targeting areas where DOACS are contra - indicated, unapproved, or not recommended Path Forward • Extensive safety data (n=1,000+) • CMC ready • Potential Phase 2 study in LVAD patients and/or ESKD+AFib patients Differentiation • Only VKA in late - s
Slide 19: Frunexian Overview: An Acute Parenteral Factor XIa Inhibitor
• Acute - care settings where there are opportunities to address treatment gaps with heparin Path Forward • Solidify CMC • Phase 2 dosing in preparation for potential Phase 3 program(s) • Complex cardiac surgery • Continuous Renal Replacement Therapy Differentiation • Fast - on / fast - off potent,
Slide 20: Leadership & Financial Summary
Leadership & Financial Summary
Slide 21: Experienced Leadership Across Clinical to Commercial Drug Development
21 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
Slide 22: Financials, Capitalization & Insider Alignment
22 Financials, Capitalization & Insider Alignment Cap Table $3.9 million Cash (at 9/30/2025) NONE Debt 2,075,845 Common Shares Outstanding (at 11/20/2025) 615,940 Warrants – Investors (avg. $17.82) 426,333 Stock Options Outstanding (avg. $17.61) Market Capitalization $23 million As of 12/11/2025 Ins
Slide 23: Contact Us
23 Quang X. Pham CEO & Founder quang.pham@cadrenal.com Matthew Szot CFO matthew.szot@cadrenal.com Contact Us:
Cadrenal Therapeutics — Investor Presentation (December 2025) on 6ix