BioCardia Files Q3 2024 10-Q

TL;DR

BioCardia's Q3 2024 10-Q is in, check financials and funding agreements.

AI Summary

BioCardia, Inc. filed its 10-Q for the period ending September 30, 2024, reporting on its financial performance. The company's financial statements for the nine months ended September 30, 2024, and the third quarter ended September 30, 2024, are detailed. Key financial data points and agreements, such as funding agreements, are referenced within the filing.

Why It Matters

This filing provides investors with an update on BioCardia's financial health and operational status for the third quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a biotechnology company, BioCardia faces inherent risks related to product development, regulatory approvals, and market adoption, which are typical for the sector.

Key Numbers

• 2024-09-30 — Period End Date (Financial reporting period)
• 2024-11-13 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• BioCardia, Inc. (company) — Filer
• 2024-09-30 (date) — Period of Report
• 2024-11-13 (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 September 30, 2024, ap

Filing Documents

• bcda20240930_10q.htm (10-Q) — 803KB
• ex_739988.htm (EX-31.1) — 11KB
• ex_739989.htm (EX-31.2) — 11KB
• ex_739990.htm (EX-32.1) — 4KB
• ex_739991.htm (EX-32.2) — 4KB
• 0001437749-24-034896.txt ( ) — 3993KB
• bcda-20240930.xsd (EX-101.SCH) — 42KB
• bcda-20240930_def.xml (EX-101.DEF) — 257KB
• bcda-20240930_lab.xml (EX-101.LAB) — 226KB
• bcda-20240930_pre.xml (EX-101.PRE) — 282KB
• bcda-20240930_cal.xml (EX-101.CAL) — 28KB
• bcda20240930_10q_htm.xml (XML) — 559KB

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 23 Item 4.

Controls and Procedures

Controls and Procedures 23 Part II. OTHER INFORMATION 24 Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 25 EXHIBIT INDEX 25

SIGNATURES

SIGNATURES 26 3 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 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 (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of our cell therapy systems, our clinical trials, and our business development initiatives, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or resources or other financial items, (iii) our need and ability to raise additional capital, (iv) our future financial performance, including any such statement contained in a discussion and analysis of financial condition by management or in the results of operations included pursuant to the rules and regulations of the SEC, (v) our ability to develop and advance current product candidates and programs and execute on our corporate strategy and (vi) the assumptions underlying or relating to any statement described in points (i) – (v) above. 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

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) September 30, December 31, 2024 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 4,930 $ 1,103 Accounts receivable, net of allowance for doubtful accounts of $ 0 and $ 34 as of September 30, 2024 and December 31, 2023, respectively 10 63 Prepaid expenses and other current assets 116 295 Total current assets 5,056 1,461 Property and equipment, net 47 94 Operating lease right-of-use asset, net 993 1,261 Other assets 171 171 Total assets $ 6,267 $ 2,987 Liabilities and Stockholders ' Equity (Deficit) Current liabilities: Accounts payable $ 569 $ 890 Accrued expenses and other current liabilities 1,900 2,385 Operating lease liability - current 371 333 Total current liabilities 2,840 3,608 Operating lease liability - noncurrent 674 982 Total liabilities 3,514 4,590 Commitments and contingencies (Notes 2, 5 and 12) Stockholders' equity (deficit): Preferred stock, $ 0.001 par value, 25,000,000 shares authorized and no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 50,000,000 and 100,000,000 shares authorized, 4,523,876 and 1,577,769 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 5 2 Additional paid-in capital 160,573 150,570 Accumulated deficit ( 157,825 ) ( 152,175 ) Total stockholders' equity (deficit) 2,753 ( 1,603 ) Total liabilities and stockholders' equity (deficit) $ 6,267 $ 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 Nine months ended Septem

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View this 10-Q filing on SEC EDGAR