Ponte Vedra biotech firm opens the Nasdaq 

Ponte Vedra biotech firm opens the Nasdaq (Courtesy of the Jacksonville Business Journal) — Ponte Vedra Beach-based biopharmaceutical company Cadrenal Therapeutics Inc. was among several companies that rung in the bell Monday to open the Nasdaq.

The biotech companies rung in the bell as part of the annual J.P. Morgan Healthcare Conference, the first national industry gathering since the killing of UnitedHealthcare CEO Brian Thompson in New York ahead of investor day meetings.

The event typically highlights new drugs, deals and investors, but in the wake of the shooting, security is a key issue for this year’s event.

“It’s an honor to represent Jacksonville and Florida as part of the Nasdaq Biotech Index companies to ring the opening bell from San Francisco,” Cadrenal CEO & Founder Quang X. Pham told the Business Journal Monday. “This morning is the kickoff of the annual JP Morgan Healthcare Conference Week, our biggest and most important gathering.

Despite the added security and national discourse, Pham said he plans to highlight the region’s success and use the event to promote the local tech and health care scene.

“As a former Marine Corps officer, I provide my own security by being vigilant about my surroundings all the time,” he added.

The Cadrenal (Nasdaq: CVKD) recently Orphan Drug Designation for its late-stage novel oral and reversible anticoagulant tecarfarin. The blood thinner designed to prevent heart attacks, strokes and deaths due to blood clots in patients with rare cardiovascular conditions was granted the status by the FDA for the prevention of thromboembolism and thrombosis in patients with an implanted mechanical circulatory support device. The only LVAD available in the United States is the HeartMate 3, manufactured by Abbott. All patients with LVADs require lifelong anticoagulation to protect against thromboembolic events. Last summer Cadrenal announced that it is in discussion with Abbott about a collaboration in its pivotal study later this year.

Also, Cadrenal Therapeutics recently announced it raised approximately $9.8 million in recent financing transactions.

Shares of CVKD were $15.84 as of press time Monday.

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