BioCardia, Inc. Reports 2025 Financial Results and Business Highlights
Sunnyvale, Calif., March 24, 2026 — BioCardia, Inc. (Nasdaq: BCDA), a leader in cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases, has announced its financial results for the year ended December 31, 2025, and provided a comprehensive update on recent business developments.
Key Points from the Report
- Annual Financial Results:
- Net Loss: BioCardia reported a net loss of approximately \$8.2 million for 2025, a modest increase from the \$7.9 million net loss in 2024.
- Revenue: The company’s collaboration agreement revenue was \$0 for 2025, down from \$58,000 in 2024, reflecting reduced partnership activity.
- Research and Development (R&D) Expenses: R&D expenses rose to \$5.0 million in 2025 from \$4.4 million in 2024. The increase was mainly driven by closeout activities in the CardiAMP Heart Failure Trial, the start of the CardiAMP Heart Failure II Trial, and ongoing regulatory activities—particularly to advance CardiAMP in Japan.
- Selling, General and Administrative (SG&A) Expenses: SG&A expenses decreased to \$3.3 million in 2025 from \$3.7 million in 2024, primarily due to lower professional service fees and reduced share-based compensation expense.
- Cash Position: As of December 31, 2025, BioCardia had \$2.5 million in cash and cash equivalents, compared to \$2.4 million at the end of 2024. Total assets stood at \$3.4 million, with total stockholders’ equity at \$0.9 million.
- Operational Highlights:
- CardiAMP Cell Therapy Program: BioCardia continues regulatory discussions with both the U.S. FDA and Japan’s PMDA regarding the potential market release of its CardiAMP autologous cell therapy for ischemic heart failure with reduced ejection fraction (BCDA-01).
- Clinical Data Publication: In Q1 2026, the company submitted a manuscript covering the full details of the CardiAMP HF I study for peer review. This represents a significant milestone for the validation and future commercialization pathway of the therapy.
- Clinical Trial Progress: The company closed out the CardiAMP Heart Failure Trial, initiated patient enrollment for the CardiAMP Heart Failure II Trial, and advanced regulatory initiatives in Japan.
Potential Price-Sensitive Information for Shareholders
- Regulatory Progress: The potential market release of CardiAMP in the U.S. and Japan is a major event. Any positive regulatory development or approval could significantly impact the company’s valuation and future prospects.
- R&D and Trial Updates: The initiation of new trials and closure of previous ones show the company’s commitment to advancing its pipeline. Success or setbacks in these programs may directly affect investor sentiment and share price.
- Cash Position: With only \$2.5 million in cash at year-end, BioCardia’s runway appears limited unless new funding or revenue sources are secured. Investors should closely monitor liquidity and potential capital raises, which could be dilutive but are necessary for continued operations.
- Revenue Decline: The lack of collaboration revenue in 2025 versus 2024 may signal slower business development activity or partnership momentum, a factor investors should consider.
- Cost Management: The reduction in SG&A expenses is a positive sign, reflecting ongoing cost control measures.
Detailed Financial Table (Selected Data)
|
2025 (\$000s) |
2024 (\$000s) |
| Collaboration Revenue |
— |
58 |
| Research & Development |
4,962 |
4,387 |
| Selling, General & Administrative |
3,316 |
3,672 |
| Total Costs and Expenses |
8,278 |
8,059 |
| Operating Loss |
(8,278) |
(8,001) |
| Total Other Income, net |
50 |
55 |
| Net Loss |
(8,228) |
(7,946) |
| Net Loss per Share (basic & diluted) |
(1.23) |
(1.34) |
| Weighted Average Shares |
6,666,943 |
5,916,069 |
| Cash & Cash Equivalents (EOY) |
2,496 |
2,371 |
| Total Assets |
3,413 |
3,724 |
| Total Stockholders’ Equity |
895 |
566 |
Anticipated Upcoming Milestones and Events
- Publication of CardiAMP HF I clinical data in a peer-reviewed journal
- Progress in regulatory submissions and potential approvals in the U.S. and Japan
- Further updates on CardiAMP Heart Failure II Trial enrollment and results
- Potential business development and partnership announcements
Conference Call
BioCardia will host a corporate update call on March 24, 2026, at 4:30 PM ET, to discuss these results and recent business highlights. Investors are encouraged to attend for further insights and Q&A with management.
Contacts
Media Contact: Miranda Peto, Investor Relations
Email: [email protected]
Phone: 650-226-0120
Investor Contact: David McClung, Chief Financial Officer
Email: [email protected]
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are encouraged to review the original company filings and consult with their financial advisors before making any investment decisions. The information provided is based on the company’s March 24, 2026, Form 8-K and accompanying press release. Forward-looking statements may differ materially from actual results due to risks and uncertainties. BioCardia expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
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