Cadrenal Therapeutics is a clinical-stage biopharmaceutical company with no approved products or revenue, focused on developing drugs for life-threatening blood clotting and immune conditions. Cadrenal's lead program is CAD-1005, a first-in-class selective inhibitor of 12-lipoxygenase (12-LOX), an enzyme in platelets that drives immune-mediated platelet activation. CAD-1005 targets heparin-induced thrombocytopenia (HIT), a potentially fatal immune reaction to heparin that causes dangerous clotting. Unlike existing HIT treatments (argatroban and bivalirudin), which only slow clot progression, CAD-1005 is designed to address the underlying immune mechanism. CAD-1005 has completed Phase 1 and Phase 2 trials, and Cadrenal is preparing for a Phase 3 pivotal trial following an End-of-Phase 2 FDA meeting in March 2026. Cadrenal also holds two other clinical-stage assets: tecarfarin, an oral anticoagulant targeting patients with kidney disease or implanted heart pumps who cannot tolerate warfarin or DOACs; and frunexian, an IV Factor XIa inhibitor for critical care settings, and the only IV small-molecule Factor XIa inhibitor in development for acute indications. All three assets were acquired from other companies for modest upfront payments plus milestone and royalty obligations. Cadrenal outsources manufacturing and has only five employees. If approved, Cadrenal plans to commercialize through a small U.S. salesforce and international partnerships, with orphan drug designations on CAD-1005 and tecarfarin potentially providing seven years of U.S. market exclusivity.