Cardiol Therapeutics Announces 2024 Shareholders Meeting Results

Cardiol Therapeutics Inc., a Toronto-based clinical-stage life sciences company listed on NASDAQ and TSX under the symbol CRDL, recently held its annual general and special meeting of shareholders virtually on June 26, 2024. During this meeting, shareholders showed unanimous support for all management resolutions outlined in the information circular dated May 13, 2024.

The meeting agenda included several key resolutions which were all approved. Notably, the shareholders elected the following directors to serve for the coming year: David Elsley, Peter Pekos, Dr. Guillermo Torre-Amione, Colin Stott, Michael Willner, Jennifer Chao, Chris Waddick, and Teri Loxam. Each candidate received robust support, with David Elsley securing the highest vote percentage at 99.66%.

In addition to the election of directors, another significant resolution passed was the appointment of BDO Canada LLP as the auditors for the Company until the next annual meeting. The resolution also granted the directors the authority to determine the remuneration for the auditors.

Shareholders also approved the unallocated awards under the Company's Omnibus Equity Incentive Plan, a measure that is expected to play a crucial role in motivating and retaining top talent within the organization.

Cardiol Therapeutics specializes in the research and clinical development of anti-inflammatory and anti-fibrotic therapies aimed at treating heart disease. The Company's lead drug candidate, CardiolRx™, is an oral solution of cannabidiol currently under clinical development. This pharmaceutical-grade product targets the inflammasome pathway, a critical intracellular process involved in inflammation and fibrosis related to myocarditis, pericarditis, and heart failure.

The U.S. Food and Drug Administration (FDA) has granted Cardiol Therapeutics the authorization to conduct clinical studies to evaluate the efficacy and safety of CardiolRx™ for two specific heart diseases. The first is a Phase II multi-center open-label pilot study known as the MAvERIC-Pilot study, which focuses on recurrent pericarditis. This inflammatory condition of the pericardium leads to symptoms such as debilitating chest pain, shortness of breath, and fatigue, significantly impacting the quality of life of affected individuals.

The second FDA-approved clinical study is the ARCHER trial, a Phase II multinational randomized double-blind placebo-controlled trial targeting acute myocarditis. Acute myocarditis is a critical condition that can lead to severe heart failure and is a leading cause of sudden cardiac death in individuals under 35 years old. The FDA has also granted Orphan Drug Designation to CardiolRx™ for the treatment of pericarditis, further underscoring its potential therapeutic significance.

Apart from CardiolRx™, the Company is also developing CRD-38, a new subcutaneously administered drug formulation intended for heart failure treatment. Heart failure remains a leading cause of death and hospitalization globally, with associated healthcare costs in the United States surpassing $30 billion annually.

Cardiol Therapeutics continues to focus on advancing its clinical programs and developing innovative therapies to address significant unmet medical needs in cardiovascular health. The unanimous support from shareholders at the recent meeting reflects strong confidence in the Company's strategic direction and its potential to make meaningful contributions to heart disease treatment.