Core Insights - BioCardia, Inc. reported its financial results for the year ended December 31, 2024, highlighting a decrease in net loss and operational cash usage compared to 2023 [4][11][15]. Financial Performance - Net cash used in operations was approximately 10.0 million in 2023, primarily due to reduced research and development expenses [4]. - Revenues for 2024 were approximately 477,000 in 2023, attributed to the fulfillment of performance obligations for business partners [11]. - Research and development expenses decreased to approximately 7.7 million in 2023, reflecting reduced clinical expenses following the completion of the CardiAMP HF Trial [11]. - Selling, general, and administrative expenses also decreased to approximately 4.4 million in 2023 due to personnel realignment and cost reductions [11]. - The net loss for 2024 was approximately 11.6 million in 2023, with a net loss per share of 8.19 in the previous year [11][15]. Clinical Developments - The CardiAMP autologous cell therapy for ischemic heart failure has completed its last patient enrollment in the open-label roll-in cohort, with results expected for publication and presentation [3]. - The treatment of the low dose cohort for the CardiALLO cell therapy has been completed without any treatment-emergent adverse events, with a formal Data Safety Monitoring Board review scheduled for the second quarter of 2025 [3]. - A consultation with Japan's PMDA regarding the registration of the CardiAMP Cell Therapy System for heart failure has taken place, with indications that previous trial results may suffice for registration [5]. Upcoming Events - The company will host a corporate update conference call on March 31, 2025, to discuss results from the CardiAMP HF Trial at the American College of Cardiology 2025 Scientific Sessions [2][8].
BioCardia Reports 2024 Business Highlights and Financial Results