Cadrenal Therapeutics Cash Used In Operating Activities Totaled $1.8M During Q1 2024; As Of March 31, 2024, Cash Balances Were $6.6M
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Cadrenal Therapeutics reported that its cash used in operating activities amounted to $1.8M in Q1 2024. By the end of March 2024, the company's cash balances stood at $6.6M.
May 09, 2024 | 1:34 pm
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Cadrenal Therapeutics used $1.8M in operating activities in Q1 2024, with a remaining cash balance of $6.6M as of March 31, 2024.
The reported cash usage in operating activities may raise concerns about the company's cash burn rate and its sustainability over the short term. Investors might be wary of the company's financial health, potentially leading to a negative impact on the stock price in the short term.
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IMPORTANCE 75
RELEVANCE 100