BioCardia, Inc. Files Q2 2024 10-Q

TL;DR

BioCardia's Q2 10-Q is in: financials and funding agreements detailed.

AI Summary

BioCardia, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance and business activities. The company's fiscal year ends on December 31st. Key financial data and agreements, such as funding agreements, are detailed within the filing.

Why It Matters

This filing provides investors and stakeholders with an update on BioCardia's financial health and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial performance and future outlook, not fully detailed here, would determine the true risk level.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240813 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• BioCardia, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240813 (date) — Filing date
• Tiger X Medical, Inc. (company) — Former company name
• Cardo Medical, Inc. (company) — Former company name
• CLICKNSETTLE COM INC (company) — Former company name

FAQ

Key Financial Figures

• $0.001 B — ch registered Common Stock, par value $0.001 BCDA The Nasdaq Capital Market Indicat
• $250,000 — mes exceeds federally insured limits of $250,000 per customer. On June 30, 2024, approxi

Filing Documents

• bcda20240630_10q.htm (10-Q) — 746KB
• ex_709221.htm (EX-31.1) — 11KB
• ex_709222.htm (EX-31.2) — 11KB
• ex_709223.htm (EX-32.1) — 4KB
• ex_709224.htm (EX-32.2) — 4KB
• ex_710110.htm (EX-99.1) — 115KB
• ex_710111.htm (EX-99.2) — 16KB
• ex_710112.htm (EX-99.3) — 20KB
• 0001437749-24-026310.txt ( ) — 3980KB
• bcda-20240630.xsd (EX-101.SCH) — 40KB
• bcda-20240630_def.xml (EX-101.DEF) — 246KB
• bcda-20240630_lab.xml (EX-101.LAB) — 218KB
• bcda-20240630_pre.xml (EX-101.PRE) — 272KB
• bcda-20240630_cal.xml (EX-101.CAL) — 28KB
• bcda20240630_10q_htm.xml (XML) — 529KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 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) June 30, December 31, 2024 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 1,421 $ 1,103 Accounts receivable, net of allowance for doubtful accounts of $ 0 and $ 34 as of June 30, 2024 and December 31, 2023, respectively 10 63 Prepaid expenses and other current assets 142 295 Total current assets 1,573 1,461 Property and equipment, net 61 94 Operating lease right-of-use asset, net 1,085 1,261 Other assets 171 171 Total assets $ 2,890 $ 2,987 Liabilities and Stockholders ' Deficit Current liabilities: Accounts payable $ 1,447 $ 890 Accrued expenses and other current liabilities 2,266 2,385 Operating lease liability - current 358 333 Total current liabilities 4,071 3,608 Operating lease liability - noncurrent 780 982 Total liabilities 4,851 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 June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 50,000,000 and 100,000,000 shares authorized, 2,123,876 and 1,577,769 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 2 2 Additional paid-in capital 154,125 150,570 Accumulated deficit ( 156,088 ) ( 152,175 ) Total stockholders' deficit ( 1,961 ) ( 1,603 ) Total liabilities and stockholders' deficit $ 2,890 $ 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 Six months ended June 30, June 30, 2024 2023 2024 2023 Reve

View Full Filing

View this 10-Q filing on SEC EDGAR