Cadrenal Therapeutics, Inc. (CVKD) announced the FDA has granted tecarfarin Orphan Drug Designation for the prevention of thromboembolism and thrombosis in patients with an implanted mechanical circulatory support device. The FDA's ODD program provides incentives to sponsor organizations for the development of treatments for rare diseases.
Cadrenal Therapeutics is developing tecarfarin for unmet needs in anticoagulation therapy. Tecarfarin is a late-stage oral and reversible anticoagulant to prevent heart attacks, strokes, and deaths due to blood clots in patients with rare cardiovascular conditions.
Quang Pham, Founder, Chairman and CEO of Cadrenal Therapeutics, said: "We are dedicated to advancing tecarfarin through clinical development options as swiftly as possible."
Shares of Cadrenal Therapeutics are up 11% in pre-market trade on Tuesday.
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