Biocardia 2024 Q2 Earnings Misses Targets as Revenue Declines 93%

Biocardia (BCDA) reported its fiscal 2024 Q2 earnings on May 14th, 2025. The company's performance missed expectations, primarily due to a significant revenue decline. Guidance remained in line with previous forecasts as the company continues to focus on its therapeutic programs.

Revenue
Biocardia experienced a dramatic decrease in total revenue by 93.0% to $3,000 in 2024 Q2, from $43,000 in 2023 Q2. This revenue solely consisted of $3,000 from collaboration agreements, underscoring the company's reliance on this segment in the absence of other revenue streams.

Earnings/Net Income
Biocardia narrowed its losses to $0.88 per share in 2024 Q2 from a loss of $2.52 per share in 2023 Q2, marking a 65.1% improvement. The net loss reduced to $-1.65 million in 2024 Q2 from $-3.42 million in 2023 Q2, a 51.9% reduction. The EPS improvement indicates a positive trend in financial management.

Price Action
The stock price of Biocardia edged up 0.73% during the latest trading day, climbed 4.53% over the most recent trading week, and surged 40.25% month-to-date.

Post-Earnings Price Action Review
Investors adopting a strategy of purchasing Biocardia (BCDA) shares after financial report releases and holding for 30 days have found success over the past five years. This approach has yielded an annualized return of 18.58%, outperforming the market by 3.56%. The strategy has delivered an average annual return of $231.97, emphasizing the power of compounded returns in enhancing cash growth. This historical trend reflects the company's ability to generate investor confidence post-earnings, despite revenue fluctuations. The strategy's success is attributed to the company's focus on advancing innovative therapies, which aligns with investor expectations and market trends, resulting in positive stock performance.

CEO Commentary
"This has been a great quarter for all of our therapeutic programs in development," said Peter Altman, Ph.D., CEO of BioCardia. He highlighted the significant evidence supporting the safety and benefits of CardiAMP cell therapy for heart failure patients with elevated biomarkers of heart stress, despite being on optimal therapy. The CEO emphasized that the company is focused on regulatory submissions for the CardiAMP Cell Therapy System clinical consultation with Japan PMDA and for the Helix transendocardial delivery system application in the United States, reflecting a strategic priority to advance their innovative therapies.

Guidance
The company is on track to share two-year data from the CardiAMP HF Trial with both the FDA and the Japan Pharmaceuticals and Medical Devices Agency soon. BioCardia plans to submit the Helix transendocardial delivery system application for approval in the United States and aims to progress the CardiALLO trial to enrollment of 39 participants, supporting these initiatives through nondilutive grants and partnerships. The leadership expects continued strong performance across therapeutic programs as they advance towards regulatory milestones and market positioning.

Additional News
BioCardia (NASDAQ: BCDA) has recently initiated patient enrollment at the University of Wisconsin for its CardiAMP HF II pivotal study, furthering its research on ischemic heart failure treatment. The company has also commenced patient enrollment at Emory University School of Medicine for the same trial, emphasizing its commitment to advancing its lead cell therapy product. Additionally, BioCardia has received a positive safety review from the independent Data Safety Monitoring Board for its CardiALLO allogeneic cell therapy trial, allowing the study to proceed as designed. These developments highlight BioCardia's strategic focus on clinical progress and expansion in cardiovascular therapeutics.