0001213900-26-053074
SEC filingCadrenal Therapeutics reported narrower operating and net losses in Q1 FY2026 versus Q1 FY2025, reflecting reduced public-company and personnel expenses — yet continues to burn cash and faces substantial doubt about its ability to continue as a going concern.
Since inception, Cadrenal Therapeutics has incurred recurring losses and utilized cash in operations. The company reported net cash used in operating activities of -$3.0M for Q1 FY2026, an improvement from -$4.6M in Q1 FY2025. This improvement aligns with the reduction in operating losses and reflects disciplined cost control across multiple expense categories. However, the company remains deeply unprofitable and continues to rely on external financing to fund operations.
Management states there is uncertainty as to the Company’s ability to meet its current operating and capital expenses. The company projects that its operating losses and expected capital needs will exceed its existing cash balances and cash expected to be generated from operations for the foreseeable future. This assessment triggers substantial doubt about the company’s ability to continue as a going concern — a conclusion reinforced by the persistent negative operating and free cash flow.