Cardiol Therapeutics Inc. focused on the research and clinical development of anti-inflammatory therapies for the treatment of cardiovascular disease announced the formation of the Data Safety Monitoring Committee ("DSMC") and the Clinical Endpoint Committee ("CEC") for the Company's Phase II/III trial in high-risk patients hospitalized with COVID-19 at clinical centers throughout the United States. The DSMC comprises independent experts who will assess the patient safety data, and, if needed, critical efficacy endpoints of the trial. In order to do so, the DSMC may review unblinded study information (on a patient level or treatment group level) during the conduct of the trial. After each data review, the DSMC will advise the study Steering Committee with recommendations for protocol modifications, if concerns over safety have developed, or that the study should continue according to the protocol if no concerns are identified. The DSMC will also perform an interim analysis after 200 patients have completed the study, to determine if the study is likely to enroll enough patients to achieve statistical significance or if additional patients should be recruited.