BioCardia reported financial results for Q3 2024, with net loss narrowing to $1.7 million compared to $2.6 million in Q3 2023. Revenue was nil for the quarter, down from $357,000 in the same period last year. Operating expenses decreased significantly to $1.8 million from $3.0 million year-over-year, primarily due to reduced personnel costs and clinical expenses following completion of CardiAMP Cell Therapy Heart Failure Trial enrollment.The company ended the quarter with $4.9 million in cash and cash equivalents, bolstered by a $7.2 million public offering completed in September 2024. The offering included issuing 2.4 million shares of common stock and warrants to purchase an additional 2.4 million shares. Research and development expenses decreased to $931,000 from $1.9 million in Q3 2023, while selling, general and administrative costs declined to $825,000 from $1.1 million.Management expects current cash...Show More

BioCardia reported financial results for Q3 2024, with net loss narrowing to $1.7 million compared to $2.6 million in Q3 2023. Revenue was nil for the quarter, down from $357,000 in the same period last year. Operating expenses decreased significantly to $1.8 million from $3.0 million year-over-year, primarily due to reduced personnel costs and clinical expenses following completion of CardiAMP Cell Therapy Heart Failure Trial enrollment.The company ended the quarter with $4.9 million in cash and cash equivalents, bolstered by a $7.2 million public offering completed in September 2024. The offering included issuing 2.4 million shares of common stock and warrants to purchase an additional 2.4 million shares. Research and development expenses decreased to $931,000 from $1.9 million in Q3 2023, while selling, general and administrative costs declined to $825,000 from $1.1 million.Management expects current cash reserves to fund operations through Q2 2025 and plans to raise additional capital through various means. The company continues to advance its CardiAMP cell therapy trials in heart failure and chronic myocardial ischemia, with top-line results from the CardiAMP Heart Failure Trial expected in Q1 2025. BioCardia also received FDA clearance for its new Morph DNA product family for various cardiac procedures.