KARD Stock — Kardigan Inc.: Cash, EV, Pipeline

Share price

$16.64

Market cap

$1,555.9M

Cash

$597.6M

Enterprise value

$958.3M

Balance sheet

Cash	$597.6M
Debt	$0.0M
Net cash	$597.6M
Enterprise value	$958.3M
Basic shares	93.5M shares
Fully diluted shares	104.2M shares
Fully diluted market cap	$1,733.2M
Cash per share	$6.39

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	Tonlamarsen	Phase 2	Hypertension; Acute Severe Hypertension; Hypertensive Emergency	—
Oct 13 - Nov 24	danicamtiv	Phase 3	Symptomatic Genetic Dilated Cardiomyopathy	H1 2027
Oct 12 - Nov 23	Ataciguat	Phase 3	Moderate Aortic Valve Stenosis	—
Dec 13, 2032 - Jan 24, 2033	Danicamtiv	Phase 3	Symptomatic Genetic Dilated Cardiomyopathy (DCM)	H1 2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Danicamtiv

Phase 2 · Active

Target cardiac myosin

Indications

Genetic dilated cardiomyopathy (DCM) (Phase 2)

Status note Lead candidate. Phase 2b KINSHIP-DCM (Cohort 1) ongoing; filing notes anticipated timing of topline data but no date is stated in the excerpt. Company completed IPO June 2026.

Ataciguat

Phase 2 · Active

Target sGC

Indications

Moderate calcific aortic valve stenosis (CAVS) (Phase 2)

Status note Phase 2b KATALYST-AV ongoing; no dated readout stated in the excerpt.

Tonlamarsen

Phase 2 · Active

Target AGT

Indications

Post-hospitalization management of ASH (Phase 2)

Status note Phase 2 KARDINAL-ASH ongoing; no dated readout stated in the excerpt. Filing does not expand the ASH abbreviation.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	danicamtiv
Lead indication	Symptomatic Genetic Dilated Cardiomyopathy
Lead phase	Phase 3
Active trials	4

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07210723	Phase 3	Recruiting	Sponsor	KARD	—	Symptomatic Genetic Dilated Cardiomyopathy	H1 2027
NCT07001800	Phase 3	Recruiting	Sponsor	KARD	—	Moderate Aortic Valve Stenosis	—
NCT07771465	Phase 3	Recruiting	Sponsor	KARD	—	Symptomatic Genetic Dilated Cardiomyopathy (DCM)	H1 2027
NCT07511361	Phase 2	Recruiting	Sponsor	KARD	—	Hypertension; Acute Severe Hypertension; Hypertensive Emergency	—

Sponsor-matched active trials from ClinicalTrials.gov (4 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 4 active trials for Kardigan, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Braidwell LP	300,000	+300,000	0.26%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

KARD — Kardigan Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders