Cardiol Therapeutics Faces Rising Losses and Falling Assets

Cardiol Therapeutics (TSE:CRDL) has released an update.

Cardiol Therapeutics reports a significant net loss of $28.5 million for the nine months ending September 2024, compared to $20.5 million during the same period in 2023. The company also saw a notable decrease in cash and cash equivalents, dropping from $34.9 million at the end of 2023 to $15.9 million by September 2024. Investors might find the company’s increased operating expenses and declining asset base concerning, potentially impacting stock performance.

For further insights into TSE:CRDL stock, check out TipRanks’ Stock Analysis page.