BioCardia, Inc. Files 10-Q for Q1 2024

TL;DR

<b>BioCardia, Inc. filed its Q1 2024 10-Q, detailing financial activities and past corporate changes.</b>

AI Summary

BioCardia, Inc. (BCDA) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. BioCardia, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. BioCardia, Inc. was formerly known as Tiger X Medical, Inc., Cardo Medical, Inc., and CLICKNSETTLE COM INC. The filing includes data related to funding agreements and sales agreements with Cantor Fitzgerald & Co. and HC Wainwright & Co., LLC. The report details financial activities including research and development expenses and selling, general, and administrative expenses for Q1 2024 and Q1 2023.

Why It Matters

For investors and stakeholders tracking BioCardia, Inc., this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational updates for BioCardia, Inc. Understanding the company's historical name changes and ongoing agreements offers context for its business evolution and strategic partnerships.

Risk Assessment

Risk Level: medium — BioCardia, Inc. shows moderate risk based on this filing. The company's financial disclosures in this 10-Q are limited, with specific revenue and net income figures not readily available in the provided header information, suggesting a need for deeper analysis of the full document.

Analyst Insight

Review the full 10-Q filing to ascertain specific revenue, net income, and cash flow figures to assess BioCardia's financial health and operational progress.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-14 — Filed As Of Date (Filed as of date)
• 2024-01-01 — Q1 2024 Start Date (Reporting period start date)
• 2023-01-01 — Q1 2023 Start Date (Prior year comparative period start date)

Key Players & Entities

• BioCardia, Inc. (company) — Filer name
• BCDA (company) — Ticker symbol
• Tiger X Medical, Inc. (company) — Former company name
• Cardo Medical, Inc. (company) — Former company name
• CLICKNSETTLE COM INC (company) — Former company name
• Cantor Fitzgerald & Co. (company) — Sales agreement party
• HC Wainwright & Co., LLC (company) — Sales agreement party
• 2024-03-31 (date) — Period of report

FAQ

Industry Context

BioCardia, Inc. operates in the biotechnology sector, focusing on developing therapies for cardiovascular diseases. This filing pertains to their quarterly financial and operational status.

Regulatory Implications

As a publicly traded company, BioCardia, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to disclose financial information and business developments.

What Investors Should Do

1. Analyze the full 10-Q document for detailed financial statements, including revenue, expenses, and cash flow.
2. Investigate the nature and terms of the sales agreements with Cantor Fitzgerald & Co. and HC Wainwright & Co., LLC.
3. Research any disclosed clinical trial updates or regulatory milestones mentioned in the full filing.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the Q1 2024 update, following previous filings which would detail prior fiscal periods and their respective financial results.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 Warrant to Purchase Common Stock BC
• $250,000 — mes exceeds federally insured limits of $250,000 per customer. On March 31, 2024, approx

Filing Documents

• bcda20240331_10q.htm (10-Q) — 610KB
• ex_666719.htm (EX-31.1) — 11KB
• ex_666718.htm (EX-31.2) — 11KB
• ex_666717.htm (EX-32.1) — 4KB
• ex_666716.htm (EX-32.2) — 4KB
• 0001437749-24-016611.txt (&nbsp;) — 3488KB
• bcda-20240331.xsd (EX-101.SCH) — 40KB
• bcda-20240331_def.xml (EX-101.DEF) — 235KB
• bcda-20240331_lab.xml (EX-101.LAB) — 205KB
• bcda-20240331_pre.xml (EX-101.PRE) — 261KB
• bcda-20240331_cal.xml (EX-101.CAL) — 28KB
• bcda20240331_10q_htm.xml (XML) — 456KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22 Part II. OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 23 EXHIBIT INDEX 23

SIGNATURES

SIGNATURES 24 3 FORWARD-LOOKING INFORMATION This Quarterly Report on Form 10-Q, or report, contains forward-looking statements within the meaning of the U.S. federal securities laws that involve risks and uncertainties. Certain statements contained in this report are not purely historical including, without limitation, statements regarding our expectations, beliefs, intentions, anticipations, commitments or strategies regarding the future that are forward-looking. These statements include those discussed in Item 2, Management ' s Discussion and Analysis of Financial Condition and Results of Operations, including " Critical Accounting Policies and Estimates, " " Results of Operations, " " Liquidity and Capital Resources, " and " Future Funding Requirements, " and elsewhere in this report. In this report, the words " may, " " could, " " would, " " might, " " will, " " should, " " plan, " " forecast, " " anticipate, " " believe, " " expect, " " intend, " " estimate, " " predict, " " potential, " " continue, " " future, " " moving toward " or the negative of these terms or other similar expressions also identify forward-looking statements. Our actual results could differ materially from those forward-looking statements contained in this report as a result of a number of risk factors including, but not limited to, those listed in our Annual Report on Form 10-K for the year ended December 31, 2023, which is incorporated by reference herein, and elsewhere in this report. You should carefully consider these risks, in addition to the other information in this report and in our other filings with the SEC. All forward-looking statements and reasons why results may differ included in this report are made as of the date of this report, and we undertake no obligation to update any such forward-looking statement or reason why such results might differ after the date of this Quarterly Report on Form 10-Q, except as required by law. 4

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS BIOCARDIA, INC. Condensed Consolidated Balance Sheets (In thousands, except share and per share amounts) March 31, December 31, 2024 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 949 $ 1,103 Accounts receivable, net of allowance for doubtful accounts of $ 10 and $ 34 as of March 31, 2024 and December 31, 2023, respectively 58 63 Prepaid expenses and other current assets 252 295 Total current assets 1,259 1,461 Property and equipment, net 75 94 Operating lease right-of-use asset, net 1,174 1,261 Other assets 171 171 Total assets $ 2,679 $ 2,987 Liabilities and Stockholders ' Deficit Current liabilities: Accounts payable $ 1,030 $ 890 Accrued expenses and other current liabilities 2,696 2,385 Operating lease liability - current 345 333 Total current liabilities 4,071 3,608 Operating lease liability - noncurrent 883 982 Total liabilities 4,954 4,590 Commitments and contingencies (Notes 2, 5 and 12) Stockholders' deficit: Preferred stock, $ 0.001 par value, 25,000,000 shares authorized and no shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 100,000,000 shares authorized, 26,836,389 and 23,666,534 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 27 24 Additional paid-in capital 152,140 150,548 Accumulated deficit ( 154,442 ) ( 152,175 ) Total stockholders' deficit ( 2,275 ) ( 1,603 ) Total liabilities and stockholders' deficit $ 2,679 $ 2,987 See accompanying notes to the unaudited condensed consolidated financial statements. 5 BIOCARDIA, INC. Condensed Consolidated Statements of Operations (In thousands, except share and per share amounts) (unaudited) Three months ended March 31, 2024 2023 Revenue: Collaboration agreement revenue $ 55

View Full Filing

View this 10-Q filing on SEC EDGAR