Kardigan, Inc. (Nasdaq: KARD) reported its financial results for the fiscal quarter ended September 30, 2026, and provided updates on its clinical development programs. The company reported a cash position of $591.4 million as of September 30, 2026, an increase from $335.5 million at the end of December 31, 2025. This increase was primarily attributed to net proceeds from the company's initial public offering in June 2026, offset by cash used in operations.
For the third quarter of 2026, research and development expenses were $64.4 million, compared to $49.1 million in the prior-year period. The company reported a net loss of $58.6 million for the quarter, or $0.64 per share, compared to a net loss of $60.2 million, or $4.43 per share, in the prior year.
In clinical news, Kardigan announced the completion of enrollment in Cohort 2 of the Phase 2b KINSHIP-DCM trial for danicamtiv. The company expects topline data from this portion of the trial in the second quarter of 2027. The Phase 3 trial for danicamtiv is currently enrolling across both cohorts.
Additionally, Kardigan completed enrollment in the Phase 2b KATALYST-AV trial for ataciguat, which enrolled 156 patients. The company expects topline data from this trial in the second half of 2027. The company also continues to enroll patients in the Phase 2 KARDINAL-ASH trial for tonlamarsen, with topline data expected in the second half of 2027.
On September 30, 2026, the company announced the appointment of Kristin Reinke, vice president of finance at Google, to its Board of Directors and as chair of the Audit Committee.
