Biocardia Inc Stock Price, News & Analysis

BioCardia, Inc. (Nasdaq: BCDA) reported its 2021 financial results, ending the year with cash and cash equivalents of $12.9 million, ensuring operational continuity through 2022. Revenue surged to $1 million from $145,000 in 2020, primarily due to collaborations. The company reduced R&D expenses to $8.6 million and administrative costs to $5.1 million. The net loss decreased to $12.6 million, improving from $15.0 million in 2020. BioCardia's CardiAMP cell therapy has advanced significantly, receiving FDA Breakthrough Device Designation, with active trials in heart failure and chronic myocardial ischemia.

BioCardia, Inc. [NASDAQ:BCDA] will release its financial results for the year ending December 31, 2021, during a conference call on March 29, 2022, at 4:30 PM ET. The event will include a formal management presentation followed by a Q&A session. Interested parties can register for the call via provided links and dial in 10 minutes early. A replay will be available through June 29, 2022. BioCardia focuses on developing cellular therapies for cardiovascular and pulmonary conditions, leveraging innovative biotherapeutic platforms.

BioCardia (NASDAQ: BCDA) announced the designation of a new reimbursement code, C9782, by the U.S. Centers for Medicare and Medicaid Services (CMS) for its CardiAMP® Cell Therapy procedure. This code, effective April 1, 2022, allows hospitals to receive reimbursement for studies involving autologous bone marrow cell treatment for heart failure. This designation supports ongoing pivotal trials in two cardiovascular indications, enhancing CMS's commitment to treating ischemic heart failure and providing financial clarity for clinical institutions involved in these trials.

BioCardia (Nasdaq: BCDA) announced the receipt of a No Objection Letter from Health Canada, allowing the expansion of its CardiAMP Heart Failure Trial into Canada. The Phase III trial, which is currently enrolling patients in the U.S., aims to assess the effectiveness of CardiAMP Cell Therapy for patients with ischemic cardiomyopathy. Four Canadian clinical sites are preparing to start patient enrollment soon. CEO Peter Altman noted that the rigorous approval process has strengthened the trial, which utilizes innovative patient selection and delivery methods to enhance treatment outcomes.

BioCardia, Inc. (Nasdaq: BCDA) announced that the independent Data Safety Monitoring Board (DSMB) has completed its review of the Phase III pivotal CardiAMP™ Cell Therapy Heart Failure Trial. The DSMB confirmed no significant safety concerns and recommended continuation of the trial, which has enrolled 108 patients. CEO Peter Altman stated that the trial is positioned to meet its primary endpoint and aims to enroll 260 patients across 40 centers. The trial utilizes proprietary techniques to enhance patient outcomes.

BioCardia, Inc. (Nasdaq: BCDA) announced that the FDA has granted Breakthrough Device Designation for its CardiAMP® Cell Therapy System aimed at treating heart failure. This designation marks it as the first cardiac cell therapy to receive such status. The therapy utilizes a patient's own bone marrow cells delivered minimally invasively, intending to enhance treatment efficacy and patient safety. Currently, the CardiAMP Heart Failure Trial is enrolling patients to assess the therapy's effectiveness, with promising past results indicating significant improvements in exercise tolerance and quality of life.

BioCardia (Nasdaq: BCDA) announced its participation in two virtual investor meetings: the H.C. Wainwright BioConnect Virtual Conference from January 10-13 and the Biotech Showcase from January 10-12. CEO Dr. Peter Altman and CFO David McClung will engage in one-on-one meetings with investors during these events. Interested institutional or retail investors can request meetings through the conference platforms. BioCardia develops biotherapeutics for cardiovascular and respiratory diseases, driven by its CardiAMP and NK1R+ platforms.

BioCardia has announced a long-term lease for a new facility in Sunnyvale, California, aimed at enhancing the manufacturing of its cell and device products. This facility will support the development of BioCardia's CardiAMP Cell Therapy Systems, NK1R+ MSC, and Biotherapeutic Delivery Devices for clinical trials and early commercial activities. The company’s CEO emphasized the strategic importance of maintaining manufacturing proximity to accelerate product development and innovation, indicating expectations for multiple therapeutic programs to progress in clinical settings.

BioCardia, Inc. (BCDA) reported Q3 2021 results showing a revenue increase to $821,000, up from $34,000 year-over-year. The net loss narrowed to $2.7 million compared to $3.8 million in Q3 2020. The CardiAMP® Cell Therapy trial faces enrollment challenges due to COVID-19 but has enrolled 106 patients across 24 sites. Upcoming milestones include data reviews and IND submissions for various therapies. The company ended the quarter with $15.9 million in cash.