BioCardia (NASDAQ: BCDA) faces Nasdaq notice for stockholders’ equity deficiency

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

BioCardia, Inc. reported that Nasdaq notified the company on April 10, 2026 that it no longer meets the Nasdaq Capital Market’s continued listing standard requiring stockholders’ equity of at least $2.5 million. BioCardia’s stockholders’ equity was $895,000 as of December 31, 2025.

The company has until May 25, 2026 to submit a plan to regain compliance and, if Nasdaq accepts the plan, may receive up to 180 calendar days from April 10, 2026 to show it again meets the requirement. BioCardia’s common stock will continue trading on the Nasdaq Capital Market under the symbol BCDA while Nasdaq reviews the situation.

Positive

None.

Negative

Nasdaq compliance failure and delisting risk: BioCardia’s stockholders’ equity of $895,000 as of December 31, 2025 is far below the $2.5 million Nasdaq Capital Market requirement, triggering a deficiency notice and creating a real risk of eventual delisting if compliance is not restored.

Insights

Nasdaq equity deficiency notice raises delisting risk for BioCardia.

BioCardia disclosed that Nasdaq found its stockholders’ equity of $895,000 as of December 31, 2025 falls below the $2.5 million minimum required under Nasdaq Listing Rule 5550(b)(1) for the Nasdaq Capital Market. This places the company in formal non-compliance with continued listing standards.

The company has until May 25, 2026 to submit a remediation plan. If Nasdaq accepts it, BioCardia may receive up to 180 calendar days from April 10, 2026 to demonstrate compliance. Until a final decision, the shares continue trading under “BCDA,” but the filing notes there is no assurance BioCardia can regain or maintain compliance, highlighting meaningful listing uncertainty.

8-K Event Classification

Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

1 item

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities

The company received a delisting notice or transferred its listing to a different exchange.

Key Figures

Stockholders’ equity: $895,000 Nasdaq minimum stockholders’ equity: $2.5 million Plan submission deadline: May 25, 2026 +1 more

4 metrics

Stockholders’ equity $895,000 As of December 31, 2025

Nasdaq minimum stockholders’ equity $2.5 million Nasdaq Capital Market continued listing requirement under Rule 5550(b)(1)

Plan submission deadline May 25, 2026 Deadline to provide Nasdaq with a plan to regain compliance

Potential compliance extension 180 calendar days Maximum extension from April 10, 2026 if Nasdaq accepts plan

Key Terms

Nasdaq Listing Rule 5550(b)(1), stockholders’ equity, continued listing, Nasdaq Hearings Panel, +1 more

5 terms

Nasdaq Listing Rule 5550(b)(1) regulatory

"minimum stockholders’ equity requirement of $2.5 million for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1)"

stockholders’ equity financial

"based on the Company’s stockholders’ equity of $895,000 as of December 31, 2025"

Stockholders’ equity is the portion of a company’s value that belongs to its owners after subtracting what the company owes from what it owns — like the equity in a house after paying the mortgage. For investors it shows the company’s net worth and can indicate financial strength, a cushion against losses, and the amount potentially available to support dividends or reinvestment; tracking changes helps assess whether the business is building or eroding owner value.

continued listing regulatory

"minimum stockholders’ equity requirement of $2.5 million for continued listing on the Nasdaq Capital Market"

When a stock receives a "continued listing," it means the exchange has decided the company’s shares will remain tradable on that market after a review or challenge, often because the company met certain requirements or corrective steps. For investors this matters because continued listing preserves liquidity and access to buy or sell the stock—think of it as a store passing an inspection so customers can keep shopping rather than being forced to close.

Nasdaq Hearings Panel regulatory

"the Company may request a hearing, at which hearing it would present its plan to a Nasdaq Hearings Panel"

A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.

forward-looking statements regulatory

"information contained in this on Form 8-K consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Understanding 8-K Material Events →

04/15/2026 - 04:30 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 10, 2026

BIOCARDIA, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-38999		23-2753988
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

320 Soquel Way
Sunnyvale, California 94085

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (650) 226-0120

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001	BCDA	The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter) ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On April 10, 2026, BioCardia, Inc. (the “Company”) received written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based on the Company’s stockholders’ equity of $895,000 as of December 31, 2025, it is no longer in compliance with the minimum stockholders’ equity requirement of $2.5 million for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1).

The Company has until May 25, 2026 to provide Nasdaq with a plan to regain compliance with the foregoing listing requirement. If the Company’s plan to regain compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from April 10, 2026 for the Company to evidence compliance.

The Notice has no immediate effect on the listing or trading of the Company’s common stock and the common stock will continue to trade on the Nasdaq Capital Market under the symbol “BCDA.”

The Company intends to submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rules. In determining whether to accept the plan, Nasdaq will consider such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the Company’s past compliance history, the reasons for the Company’s current non-compliance, other corporate events that may occur within Nasdaq’s review period, the Company’s overall financial condition and its public disclosures. If Nasdaq does not accept the Company’s plan, the Company may request a hearing, at which hearing it would present its plan to a Nasdaq Hearings Panel.

Forward-Looking Statements

Except for the factual statements made herein, information contained in this Current Report on Form 8-K consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects or future events, as well as words such as “believes,” “intends,” “expects,” “plans” and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will be able to submit a plan or regain compliance during the required periods or otherwise in the future, otherwise meet Nasdaq compliance standards, or that Nasdaq will grant the Company any relief from delisting as necessary or whether the Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief. Reference is also made to other factors detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K. The forward-looking statements contained in this Current Report on Form 8-K speak only as of the date of this Current Report on Form 8-K and the Company assumes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this Current Report on Form 8-K, unless required by law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BIOCARDIA, INC.

/s/ Peter Altman, Ph.D.
Peter Altman, Ph.D.
President and Chief Executive Officer

Date: April 15, 2026

Source: View Original Filing on SEC EDGAR

FAQ

Why did BioCardia (BCDA) receive a Nasdaq deficiency notice?

BioCardia received a Nasdaq notice because its stockholders’ equity was $895,000 as of December 31, 2025, below the $2.5 million minimum required under Nasdaq Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market.

What deadline did Nasdaq give BioCardia (BCDA) to regain compliance?

Nasdaq gave BioCardia until May 25, 2026 to submit a plan to regain compliance. If Nasdaq accepts this plan, it may grant up to 180 calendar days from April 10, 2026 for the company to demonstrate renewed compliance.

Will BioCardia (BCDA) be immediately delisted from Nasdaq after this notice?

The notice has no immediate effect on BioCardia’s listing. Its common stock will continue trading on the Nasdaq Capital Market under the symbol BCDA while the company submits a plan and Nasdaq reviews whether it can meet continued listing standards.

What options does BioCardia (BCDA) have if Nasdaq rejects its compliance plan?

If Nasdaq does not accept BioCardia’s plan, the company may request a hearing before a Nasdaq Hearings Panel. At that hearing, BioCardia would present its plan and related information for the panel’s consideration regarding continued listing.

What factors will Nasdaq consider in BioCardia’s (BCDA) compliance plan?

Nasdaq will consider the likelihood the plan restores compliance, BioCardia’s past compliance history, reasons for current non-compliance, other corporate events during the review period, the company’s overall financial condition, and its public disclosures when evaluating the plan.

Does BioCardia (BCDA) intend to address the Nasdaq listing issue?

BioCardia states that it intends to submit a plan to Nasdaq to regain compliance with applicable listing rules. The company also notes there can be no assurance it will successfully submit a plan, regain compliance, or receive necessary relief from Nasdaq.

Filing Exhibits & Attachments

4 documents