Grasso is a familiar face to CNBC viewers as a market analyst and a regular contributor to the highly-rated “Fast Money” program, which has daily viewership of over 250,000 people.
Throughout his 27-year career, Grasso has worked closely with some of the largest hedge funds, insurance companies and mutual fund providers in his role as director of institutional sales for Stuart Frankel & Co. The New York Stock Exchange veteran also boasts an extensive network on Capitol Hill and in the Securities and Exchange Commission.
READ: Cardiol Therapeutics closes $17.25M offering to boost pharmaceutical CBD commercialization efforts
Grasso will help Cardiol to raise its profile amongst the US investment community, according to the Oakville, Ontario-based firm.
Cardiol told shareholders that Grasso can provide important introductions to investors, analysts, investment banks, and other key investment industry participants in the US. His network also includes top-level management at pharmaceutical and biotechnology companies around the world, which Cardiol said will help the firm to achieve its commercial and business development objectives.
"We are pleased that Steve has agreed to join Cardiol as Business Advisor," Cardiol’s CEO David Elsley said in a statement Monday.
"We believe Mr Grasso's impressive background in the financial markets will be of tremendous benefit to our company as we advance the development of important new therapies for life-threatening heart disease. We also believe Steve's high profile within the financial media will serve to accelerate broad recognition of Cardiol's market potential.”
In connection with the appointment, Grasso has been granted an option to acquire up to 250,000 Class A shares owned by CEO Elsley priced at $2.58 per share for a two-year period.
Cardiol recently closed a $17.25 million financing to support the commercialization of its pharmaceutical cannabinoid products.
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