Cadrenal Therapeutics Files 2023 Annual Report on Form 10-K

TL;DR

<b>Cadrenal Therapeutics, Inc. has filed its 2023 annual report on Form 10-K, detailing its financial and operational status.</b>

AI Summary

Cadrenal Therapeutics, Inc. (CVKD) filed a Annual Report (10-K) with the SEC on March 11, 2024. Cadrenal Therapeutics, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and its principal executive offices are located in Ponte Vedra, Florida. Cadrenal Therapeutics' common stock trades on The Nasdaq Stock Market, LLC under the symbol CVKD. The company is classified as a smaller reporting company and an emerging growth company. The filing confirms that Cadrenal Therapeutics has submitted all required reports for the preceding 12 months and has been subject to these filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking Cadrenal Therapeutics, Inc., this filing contains several important signals. This filing provides investors with a comprehensive overview of the company's performance, financial health, and strategic direction for the fiscal year 2023. As a smaller reporting and emerging growth company, this 10-K is crucial for stakeholders to assess Cadrenal Therapeutics' compliance and future prospects on the Nasdaq.

Risk Assessment

Risk Level: low — Cadrenal Therapeutics, Inc. shows low risk based on this filing. The risk is low as this is a standard annual filing confirming compliance and providing financial data, with no immediate negative indicators presented in the header information.

Analyst Insight

Review the full 10-K filing to understand Cadrenal Therapeutics' financial performance, operational details, and any disclosed risk factors for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the 10-K report.)
• 2024-03-11 — Filing Date (Date the 10-K was filed with the SEC.)
• CVKD — Trading Symbol (Symbol for Cadrenal Therapeutics' common stock on Nasdaq.)
• 001-41596 — Commission File Number (SEC identifier for the company.)

Key Players & Entities

• Cadrenal Therapeutics, Inc. (company) — Filer name
• CVKD (company) — Trading Symbol
• The Nasdaq Stock Market, LLC (company) — Exchange where common stock is registered
• 2023-12-31 (date) — Fiscal year end
• 2024-03-11 (date) — Filed as of date
• Delaware (jurisdiction) — State of incorporation
• Ponte Vedra, Florida (location) — Principal executive offices
• 001-41596 (other) — Commission file number

FAQ

Industry Context

Cadrenal Therapeutics operates in the Pharmaceutical Preparations industry (SIC code 2834).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 13 or 15(d), and adheres to SEC regulations for annual reporting.

What Investors Should Do

1. Thoroughly review the financial statements and Management's Discussion and Analysis (MD&A) section of the 10-K for detailed financial performance and operational insights.
2. Examine the Risk Factors section for any newly disclosed or updated risks that could impact the company's future operations or stock performance.
3. Analyze any executive compensation details provided to understand the incentives and remuneration of key management personnel.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-11: 10-K Filing Date — Date the annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending December 31, 2023, following the company's operational period.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share CVKD The Nasdaq Stock Market,

Filing Documents

• ea0201078-10k_cadrenal.htm (10-K) — 1649KB
• ea0201078ex19-1_cadrenal.htm (EX-19.1) — 51KB
• ea0201078ex21-1_cadrenal.htm (EX-21.1) — 1KB
• ea0201078ex23-1_cadrenal.htm (EX-23.1) — 3KB
• ea0201078ex31-1_cadrenal.htm (EX-31.1) — 12KB
• ea0201078ex31-2_cadrenal.htm (EX-31.2) — 12KB
• ea0201078ex32-1_cadrenal.htm (EX-32.1) — 5KB
• ea0201078ex32-2_cadrenal.htm (EX-32.2) — 5KB
• ea0201078ex97-1_cadrenal.htm (EX-97.1) — 23KB
• img_001.jpg (GRAPHIC) — 8KB
• img_002.jpg (GRAPHIC) — 77KB
• img_003.jpg (GRAPHIC) — 11KB
• img_004.jpg (GRAPHIC) — 5KB
• img_005.jpg (GRAPHIC) — 81KB
• img_006.jpg (GRAPHIC) — 26KB
• img_007.jpg (GRAPHIC) — 36KB
• img_008.jpg (GRAPHIC) — 22KB
• 0001213900-24-021133.txt (&nbsp;) — 7280KB
• cvkd-20231231.xsd (EX-101.SCH) — 54KB
• cvkd-20231231_cal.xml (EX-101.CAL) — 48KB
• cvkd-20231231_def.xml (EX-101.DEF) — 278KB
• cvkd-20231231_lab.xml (EX-101.LAB) — 506KB
• cvkd-20231231_pre.xml (EX-101.PRE) — 277KB
• ea0201078-10k_cadrenal_htm.xml (XML) — 565KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 28 Item 1B. Unresolved Staff Comments 63 Item 1C. Cybersecurity 63 Item 2.

Properties

Properties 64 Item 3.

Legal Proceedings

Legal Proceedings 64 Item 4. Mine Safety Disclosures 64 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 65 Item 6. [Reserved] 66 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 67 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 71 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 72 Item 9A.

Controls and Procedures

Controls and Procedures 72 Item 9B. Other Information 73 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 PART III Item 10. Directors, Executive Officers and Corporate Governance 74 Item 11.

Executive Compensation

Executive Compensation 83 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92 Item 13. Certain Relationships and Related Transactions, and Director Independence 94 Item 14. Principal Accountant Fees and Services 96 PART IV Item 15. Exhibits and Financial Statement Schedules 97 Item 16. Form 10-K Summary 97 i PART I Forward-Looking This Annual Report on Form 10-K (this "Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that involve substantial risks and uncertainties. The forward-looking statements are contained principally in Part I, Item 1. "Business," Part I, Item 1A. "Risk Factors," and

, Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations,"

Part II, Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations," but are also contained elsewhere in this Annual Report in some cases you can identify forward-looking statements by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based on our current beliefs, expectations, and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. You should refer to Part I, Item 1A. "Risk Factors" section of this Annual Report for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this Annual Report will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We do not undertake any obligation to update any forward-looking refer to Cadrenal Therapeutics, Inc. and its subsidiaries. This Annual Report also contains market data related to our business and industry. These market data include projections that are based on a number of assumptions. If these assumptions turn out to be incorrect, actual results may differ from the projections based on these assumptions. As a result, our

Risk Factors

Risk Factors Our business faces significant risks and uncertainties of which investors should be aware before making a decision to invest in our common stock. If any of the following risks are realized, our business, financial condition and results of operations could be materially and adversely affected. The following is a summary of the more significant risks relating to the Company. A more detailed description of our risk factors is set forth below under the caption "Risk Factors" in Item 1A in Part I of this Annual Report. Risks Related to Our Financial Position and Need for Capital We have a limited operating history, a history of losses and expect to continue to incur losses; Our cash and the proceeds from our initial public offering and July 2023 private placement offering will only fund our operations for a limited time; We will need to raise additional capital. Risks Related to Product Development, Regulatory Approval, Manufacturing and Commercialization Our business is dependent upon the success of tecarfarin, which requires additional clinical testing; All of our current data for tecarfarin are the results of clinical trials conducted by third parties; Our development efforts may not generate data sufficient to support regulatory approval and the FDA may require additional clinical testing resulting in additional costs and delays; Even if we complete our clinical trials, we may not receive regulatory approval for tecarfarin; Fast Track designation and Orphan Drug Designation by the FDA does not assure FDA approval; Even if we obtain regulatory approval, we may not enjoy marketing exclusivity and we may face development, regulatory or labeling difficulties; 1 Clinical trials are very expensive, time-consuming and difficult to design and implement. We may experience delays in the enrollment of patients in any or all of our clinical trials; If tecarfarin is approved, our success depends on our commercialization efforts and mark

View Full Filing

View this 10-K filing on SEC EDGAR