BioCardia, Inc. is a pioneering clinical-stage company dedicated to regenerative medicine, focusing on the development of advanced cellular and cell-derived therapies for ...
BioCardia, Inc. (Nasdaq: BCDA) is a clinical-stage regenerative medicine company focused on bringing cellular and cell-derived therapeutics to patients with unmet cardiovascular and pulmonary needs. The company’s strategy combines (1) therapeutic cell products and (2) dedicated delivery solutions intended to improve how and where therapies are administered inside the body—particularly ...BioCardia, Inc. (Nasdaq: BCDA) is a clinical-stage regenerative medicine company focused on bringing cellular and cell-derived therapeutics to patients with unmet cardiovascular and pulmonary needs. The company’s strategy combines (1) therapeutic cell products and (2) dedicated delivery solutions intended to improve how and where therapies are administered inside the body—particularly the heart.
At the core of BioCardia’s platform is the CardiAMP® Cell Therapy System, which is being developed for conditions such as heart failure and chronic myocardial ischemia. In addition to its lead cardiovascular-directed program, BioCardia is advancing an allogeneic cell therapy approach targeting cardiac and pulmonary indications. “Allogeneic” programs rely on cells that can be manufactured and supplied without requiring patient-specific harvesting for each treatment course, which can improve scalability and potentially reduce variability versus autologous approaches.
Beyond the therapy itself, BioCardia also emphasizes delivery technology. Its Helix biotherapeutic delivery system is engineered to administer treatment directly into the heart muscle using an internal penetrating helical needle. Complementing this are Morph deflectable guides and sheaths. This integrated focus—therapeutic cells plus procedural delivery—reflects a product-development model where clinical outcomes may depend not only on the cell product’s biology, but also on the precision and consistency of administration.
From a business and product perspective, BioCardia is primarily an R&D-driven company. As a clinical-stage biotechnology firm, it typically experiences heavy investment in preclinical work, manufacturing scale-up, clinical trials, regulatory activities, and specialized quality systems. These efforts can create a cost structure dominated by research and development and trial-related overhead rather than near-term product revenue. Manufacturing and delivery-system development also add “bill of materials” complexity (e.g., cell product production controls, device components, sterile packaging, and clinical procedure workflows), which can increase upfront costs even though the intended benefit is improved therapeutic performance.
Financially, the company is valued as a development-stage enterprise: market metrics and operating performance indicators can show losses or negative cash flow while programs are in progress. Like many biotechnology companies in active trials, BioCardia’s near-term financial profile is influenced by the timeline of clinical milestones, funding needs, and the ability to progress programs safely and efficiently.
Key leadership includes Peter A. Altman, Ph.D., who has served as President and CEO. Looking forward, the company’s “wish” is straightforward and typical for its stage: advance its cell therapies and delivery systems through clinical development, demonstrate clinical benefit and safety, and ultimately commercialize comprehensive cell therapy solutions for cardiovascular and pulmonary diseases with large unmet medical needs.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
-100.0%
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-8.2M
-3.5%
+28.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-7.4M
+7.3%
-4.4%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
59.0%
-48.1%
+128.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.12x
-0.6%
+409.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, everyone, and welcome to the BIOCARDIA Q2 26 Financial Results and Corporate Update Conference Call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then 1 on your touch-tone on your touch-tone telephones, or keypads. To withdraw your question, you may press star and then 2. Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes. A webcast replay of the call will be available at press approximately 1 hour after the end of today's conference. I would now like to turn the floor over to Miranda Peto of Biocardia Investor Relations. Please go ahead, Miranda.
Miranda Peto Benvenuti: Good afternoon, and thank you for participating in today's conference call. Joining me from BioCardia's leadership team are Peter A. Altman, President and Chief Executive Officer and David McClung, the company's Chief Financial Officer. During this call, management will be making forward looking statements including statements that address Biocardia's expectations future performance and operational results, references to management's intentions beliefs, projections, outlook, analysis and current expectations. Such factors include, among others, the inherent uncertainties associated with developing new products, technology, and obtaining regulatory approval. Forward looking statements involve risks and factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors and cautionary statements described in Biocardia's reports on Form 10 ks filed with the SEC on 03/24/2026, And in our subsequently filed quarterly reports on Form 10 Q. The contents of this call contains time sensitive information that is accurate only as of today 08/12/2026. Except as required by law, the company disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to Dr. Peter A. Altman, Biocardia's President and CEO. Peter, please proceed.
Peter A. Altman: Thank you, Miranda. Good afternoon to everyone on the call. The highlights of this second quarter have been the positive outcomes of 3 important meetings with regulatory agencies in Japan The United States, on the approvability of our cardiac cell therapy for the treatment of ischemic heart failure and on the approvability of our HELIX transcendo cardio delivery catheter, which we use in our therapeutic programs. Let's take each of these in turn. In May, we announced that Japan's Pharmaceutical and Medical Device Agency or PMDA, provided the consultation record of advice which supports our advancing to Shonin premarket regulatory submission for approval of the CARDiAmp cell therapy. PMDA noted that …
