Core Insights - BioCardia, Inc. reported its financial results for the year ended December 31, 2025, highlighting advancements in its CardiAMP and CardiALLO cell therapies for cardiovascular diseases [1][9][14]. Financial Performance - The company had no revenues in 2025, down from $58,000 in 2024, primarily due to the fulfillment of performance obligations [16]. - Research and development expenses increased to approximately $5.0 million in 2025 from $4.4 million in 2024, driven by activities related to the CardiAMP Heart Failure Trial [16]. - Selling, general and administrative expenses decreased to approximately $3.3 million in 2025 from $3.7 million in 2024 [16]. - The net loss for 2025 was approximately $8.2 million, compared to $7.9 million in 2024 [16]. Clinical Developments - The CardiAMP autologous cell therapy for ischemic heart failure is advancing regulatory discussions with the FDA and Japan's PMDA, alongside the confirmatory CardiAMP HF II Trial [3][5]. - Positive results from the CardiAMP trial showed an average increase of 107 seconds in exercise tolerance and an 82% reduction in angina episodes at the six-month follow-up [4]. - The company is preparing to submit a Q-Sub request to the FDA regarding the CardiAMP System's approvability based on safety and efficacy signals from clinical trials [5][10]. Upcoming Milestones - Anticipated milestones include the CardiAMP for Ischemic HFrEF FDA Q-Sub on Approval Pathway in Q1 2026 and a formal clinical consultation with Japan's PMDA in Q2 2026 [16]. - An oral presentation of CardiAMP for Chronic Myocardial Ischemia is scheduled for Euro PCR in Q2 2026 [16]. - A Pre-Submission meeting with the FDA regarding the Helix transendocardial delivery system is also planned for Q2 2026 [10][16]. Company Overview - BioCardia is focused on developing cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases, with its main platforms being CardiAMP and CardiALLO cell therapies [14]. - The company utilizes its Helix biotherapeutic delivery system and Morph vascular navigation product platforms to enhance treatment efficacy [14].