Biocardia Inc. (BCDA) is an innovative regenerative therapeutics company that develops medication for different cardiovascular indications. One of the lead product candidates of the company is CardiAMP used for the treatment of myocardial infarction and chronic myocardial ischemia. Another product candidate in Phase 1/2 trials is NK1R+ allogeneic bone marrow-derived mesenchymal stem cell therapy for the ischemic systolic myocardial infraction.
The price of BCDA stock during the regular trading inclined 6.16% on December 22, 2021, to $2.24. At last check in the premarket, the stock was further up by 3.57%.
Events and Happenings
On December 15, 2021, BCDA announced its entry into a long-term lease agreement for a new facility in California. The purpose of this facility was to provide sustenance to the production of the company’s cell and device-related product candidates across BCDA’s therapeutic ventures.
Key Financials
On November 10, 2021, BCDA announced its financial results for the third quarter of 2021. Some of the key highlights are as follows
Revenue
Revenue reported for the third quarter of 2021 was $0.82 million and it increased in comparison to $0.03 million for the same quarter of 2020.
Net Loss per Share
Basic and diluted net loss per share decreased over the period of the year from $3.8 million or $0.30 per share in Q3 2020 to $2.7 million or $0.16 per share for Q3 2021.
Total Assets
Total assets of the company were reported to be $17 million n Q3 2021 as compared to the same period prior year when the assets were $9.5 million.
On October 21, 2021, BCDA reported the treatment of its initial subject for Phase 3 clinical trials of CardiAMP Cell Therapy for patients with no option but to bear the angina pain. The trial will approximately enroll 343 patients. On October 12, 2021, BCDA reported about the issuance of Patent for Multi-Directional Steerable Catheter which safeguards the Helix Biotherapeutic Delivery System and improves the delivery capacity of the system.
On October 06, 2021, BCDA reported about its participation in the Virtual A.G.P Biotech & Specialty Pharma Conference held on October 13, 2021. On September 10, 2021, BCDA reported the presentation of its CardiAMP Cell Therapy data at the Heart Failure Society of America Annual Meeting 2021 on September 11. On September 9, 2021, BCDA reported about its presentation at the Virtual H.C. Wainwright 23rd Annual Global Investment Conference held on September 13-15, 2021.
Conclusion
The stock of BCDA inclined 9% from the past month which shows that the investors are putting their trust in the company’s strategies despite any clear reason. The company, through its CardiAMP cell therapy, is making a mark in the healthcare department.
