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Name | Symbol | Market | Type |
---|---|---|---|
BioCardia Inc | NASDAQ:BCDAW | NASDAQ | Equity Warrant |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0003 | -2.31% | 0.0127 | 0.0025 | 0.0175 | 0.013 | 0.0127 | 0.013 | 5,894 | 05:00:08 |
The Company is advancing its autologous and allogenic bone marrow-derived cell therapies for three cardiovascular indications and one respiratory indication.
Second Quarter 2020 Business Highlights:
Autologous Cell Therapies
Allogenic Cell Therapies
Corporate Developments
“Despite the COVID-19 challenges in the second quarter, we made progress in all four of our cell-based biotherapeutic development programs, as well as in manufacturing for our enabling device products, while also securing the financing and litigation support to continue our efforts in the year ahead,” said BioCardia Chief Executive Officer Peter Altman, PhD. “We are excited about the growing momentum in our cardiovascular cell programs, as well as the pre-clinical exploration of our cell therapy as a potential treatment for COVID-19 induced respiratory distress. We believe our unique approach using cells to enhance the body’s natural healing capabilities, rather than transform into new cells, has tremendous promise to help patients suffering from severe heart and respiratory disease.”
Second Quarter 2020 Financial Results:
Anticipated Upcoming Milestones:
Conference Call:
BioCardia’s management will host a mid-year conference call for the investment community later today, August 13, 2020, at 8:30 AM ET to provide a corporate update and discuss these results. Following management’s formal remarks there will be a question and answer session.
To listen to the call by phone, interested parties within the U.S. should call 1-877-270-2148 and international callers should call 1-412-902-6510. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the BioCardia call. The conference call will also be available through a live webcast, which can be accessed through the following link: https://services.choruscall.com/links/bcda200813.html, which is also available through the company’s website at http://www.biocardia.com/investors/investor-information/id/1041.
A webcast replay of the call will be available approximately one hour after the end of the call through November 13, 2020 at the above links. A telephonic replay of the call will be available through September 3, 2020 and may be accessed by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 10147151.
About BioCardia BioCardia, Inc., headquartered in San Carlos, California, is developing regenerative biologic therapies to treat cardiovascular disease. CardiAMP autologous and Neurokinin-1 Receptor Positive allogenic cell therapies are the Company’s biotherapeutic platforms in clinical development. The Company's products include the Helix Biotherapeutic Delivery System and its steerable guide and sheath catheter portfolio. BioCardia also partners with other biotherapeutic companies to provide its Helix system and clinical support for their programs studying therapies for the treatment of heart failure, chronic myocardial ischemia and acute myocardial infarction. For more information, visit www.BioCardia.com.
Forward Looking Statements This press release contains forward-looking statements that are subject to many risks and uncertainties. Forward-looking statements include, among other things, references to the enrollment of our clinical trials, the availability of data from our clinical trials, filings with the FDA, FDA product clearances, the efficacy and safety of our products and therapies, anticipated milestones, and other statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations. Such risks and uncertainties include, among others, the inherent uncertainties associated with developing new products or technologies, regulatory approvals, unexpected expenditures, the ability to raise the additional funding needed to continue to pursue BioCardia’s business and product development plans and overall market conditions. We may find it difficult to enroll patients in our clinical trials due to many factors, some of which are outside of our control. Slower than targeted enrollment could delay completion of our clinical trials and delay or prevent development of our therapeutic candidates. These forward-looking statements are made as of the date of this press release, and BioCardia assumes no obligation to update the forward-looking statements.
We may use terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey the uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from the forward-looking statements contained in this press release. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. Additional factors that could materially affect actual results can be found in our documents filed with the SEC, including our recent filings on Form 8-K, Form 10-K and Form 10-Q, particularly any statements under the caption entitled “Risk Factors” Therein. BioCardia expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
Media Contact: Michelle McAdam, Chronic Communications, Inc. michelle@chronic-comm.com(310) 902-1274
Investor Contact: David McClung, Chief Financial Officer Investors@BioCardia.com(650) 226-0120
BIOCARDIA, INC.Condensed Statements of Operations
(Unaudited In thousands, except share and per share amounts)
Three Months ended June 30, | Six Months ended June 30, | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
Revenue: | |||||||||||||||
Net product revenue | $ | — | $ | 62 | $ | 5 | $ | 139 | |||||||
Collaboration agreement revenue | 27 | 24 | 60 | 163 | |||||||||||
Total revenue | 27 | 86 | 65 | 302 | |||||||||||
Costs and expenses: | |||||||||||||||
Cost of goods sold | — | 191 | 4 | 297 | |||||||||||
Research and development | 2,224 | 2,219 | 5,010 | 4,385 | |||||||||||
Selling, general and administrative | 1,377 | 1,438 | 3,234 | 3,070 | |||||||||||
Total costs and expenses | 3,601 | 3,848 | 8,248 | 7,752 | |||||||||||
Operating loss | (3,574 | ) | (3,762 | ) | (8,183 | ) | (7,450 | ) | |||||||
Other income (expense): | |||||||||||||||
Interest income | 2 | 13 | 18 | 36 | |||||||||||
Other expense | (1 | ) | (1 | ) | (2 | ) | (1 | ) | |||||||
Total other income (expense) | 1 | 12 | 16 | 35 | |||||||||||
Net loss | $ | (3,573 | ) | $ | (3,750 | ) | $ | (8,167 | ) | $ | (7,415 | ) | |||
Net loss per share, basic and diluted | $ | (0.46 | ) | $ | (0.77 | ) | $ | (1.07 | ) | $ | (1.53 | ) | |||
Weighted-average shares used in computing net loss per share, basic and diluted | 7,710,577 | 4,847,829 | 7,636,088 | 4,847,746 | |||||||||||
BIOCARDIA, INC. | ||||||||||
Selected Balance Sheet Data | ||||||||||
(amounts in thousands) | ||||||||||
June 30, | December 31, | |||||||||
2020 (1) | 2019 (1) | |||||||||
Assets: | ||||||||||
Cash and cash equivalents | $ | 11,086 | $ | 5,585 | ||||||
Other current assets | 1,010 | 793 | ||||||||
Property, plant and equipment and other noncurrent assets | 1,032 | 1,300 | ||||||||
Total assets | $ | 13,128 | $ | 7,678 | ||||||
Liabilities and Stockholders’ Equity | ||||||||||
Current liabilities | $ | 4,551 | $ | 4,003 | ||||||
Noncurrent liabilities | 1,286 | 1,305 | ||||||||
Total stockholders’ equity | 7,291 | 2,370 | ||||||||
Total liabilities and stockholders’ equity | $ | 13,128 | $ | 7,678 | ||||||
(1) June 30, 2020 and 2019 amounts are unaudited. December 31, 2019 amounts were derived from the audited Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the U.S. Securities and Exchange Commission on April 9, 2020. | ||||||||||
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