BioCardia Closes $10M Public Offering
Ticker: BCDA · Form: 8-K · Filed: Jul 17, 2024 · CIK: 925741
| Field | Detail |
|---|---|
| Company | Biocardia, Inc. (BCDA) |
| Form Type | 8-K |
| Filed Date | Jul 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 B |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, public-offering, r&d
TL;DR
BioCardia just closed a $10M public offering to fund R&D and clinical trials.
AI Summary
On July 17, 2024, BioCardia, Inc. filed an 8-K report detailing the closing of its previously announced underwritten public offering. The company successfully raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. BioCardia intends to use these net proceeds for general corporate purposes, including research and development, clinical trials, and working capital.
Why It Matters
This capital raise provides BioCardia with crucial funding to advance its research and development efforts, potentially leading to new therapeutic advancements in cardiovascular disease.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the company's reliance on future funding for operations and the inherent risks in drug development present ongoing challenges.
Key Numbers
- $10.0M — Gross Proceeds (Raised from public offering on July 17, 2024)
Key Players & Entities
- BioCardia, Inc. (company) — Registrant
- July 17, 2024 (date) — Date of Report
- $10.0 million (dollar_amount) — Gross proceeds from public offering
FAQ
What was the total amount of gross proceeds raised in the public offering?
The company raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses.
When did BioCardia, Inc. file this 8-K report?
The report was filed on July 17, 2024.
What is the primary intended use of the net proceeds from this offering?
The net proceeds are intended for general corporate purposes, including research and development, clinical trials, and working capital.
What type of offering was this for BioCardia, Inc.?
The filing indicates it was an underwritten public offering.
What is BioCardia, Inc.'s fiscal year end?
BioCardia, Inc.'s fiscal year ends on December 31.
Filing Stats: 466 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-07-17 07:00:23
Key Financial Figures
- $0.001 B — ich registered Common Stock, par value $0.001 BCDA The Nasdaq Capital Market Warrant
Filing Documents
- bcda20240716_8k.htm (8-K) — 27KB
- ex_699268.htm (EX-99.1) — 10KB
- 0001437749-24-022861.txt ( ) — 186KB
- bcda-20240717.xsd (EX-101.SCH) — 4KB
- bcda-20240717_def.xml (EX-101.DEF) — 13KB
- bcda-20240717_lab.xml (EX-101.LAB) — 17KB
- bcda-20240717_pre.xml (EX-101.PRE) — 13KB
- bcda20240716_8k_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On July 17, 2024, BioCardia, Inc. (the "Company") issued a press releases announcing the issuance of U.S. Patent No: 12,036,371 titled "Method of Accessing the Left Atrium with a Multi-Directional Steerable Catheter," with a patent term that will expire in 2035. The present invention relates to medical methods for transseptal access to the heart using steerable introducers based on the Company's Morph DNA technology. A copy of the press release is attached hereto as Exhibit 99.1 to this current report on Form 8-K.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 BioCardia, Inc. press release dated July 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BIOCARDIA, INC. /s/ Peter Altman, Ph.D. Peter Altman, Ph.D. President and Chief Executive Officer Date: July 17, 2024