Biocardia 2025 Q3 Earnings Narrows Losses by 60.7% Despite Revenue Stagnation

Biocardia (BCDA) reported its fiscal 2025 Q3 earnings on Nov 12, 2025, highlighting a 60.7% improvement in per-share losses and a reduced net loss year-over-year. The company’s CEO emphasized strategic advancements in regulatory submissions and clinical trials, while investors reacted cautiously to a 13.9% month-to-date stock decline.

Revenue

The total revenue of Biocardia remained stable at $0 in 2025 Q3, reflecting no significant change from the same period in 2024.

Earnings/Net Income

Biocardia narrowed losses to $0.24 per share in 2025 Q3, a 60.7% improvement from a $0.61 loss per share in 2024 Q3. The company’s net loss also decreased to $-1.48 million, down 14.6% from $-1.74 million in the prior year. However, sustained losses over nine consecutive years underscore ongoing financial challenges. The EPS improvement is a positive sign, though the company continues to report net losses.

Price Action

Biocardia’s stock price edged down 0.76% on the latest trading day, 1.52% for the week, and tumbled 13.91% month-to-date.

Post-Earnings Price Action Review

Following the earnings release, Biocardia’s stock experienced a mixed response, with short-term declines reflecting investor skepticism despite improved financial metrics. The 13.91% month-to-date drop suggests market concerns about the company’s ability to achieve profitability, while the 60.7% EPS improvement offers a glimmer of optimism. Analysts remain divided, with some citing the company’s regulatory progress as a catalyst for future growth.

CEO Commentary

BioCardia CEO Peter Altman highlighted the $6 million financing as a critical enabler for advancing CardiAMP cell therapy approvability discussions, submitting the Helix delivery catheter via DeNovo 510(k), and accelerating the CardiAMP HF II trial. Altman emphasized the next two quarters as “truly transformative,” citing positive PMDA consultations in Japan and FDA meeting preparations. The CEO’s tone was optimistic, focusing on momentum across therapeutic programs and delivery systems.

Guidance

The company outlined Q4 2025 milestones, including PMDA clinical review for CardiAMP HF, an FDA approvability meeting request, and Helix 510(k) submission. CardiAMP HF II enrollment remains ongoing, with Q1 2026 publication of the trial manuscript. Cash reserves of $5.3 million as of Sept 30, 2025, are projected to support operations through Q2 2026. Forward-looking goals include securing non-dilutive funding for CardiALLO in Q1 2026 and aligning R&D and SG&A expenses with regulatory timelines. No revenue is expected in 2025.

Additional News

Biocardia’s recent $6 million financing round in September 2025 bolstered its cash position, supporting regulatory filings and clinical trials for CardiAMP. The company also announced the first patient enrollment in the CardiAMP HF II Phase 3 trial at Henry Ford Health and the University of Wisconsin, expanding its clinical network. Additionally, BioCardia partnered with CART-Tech to develop Heart3D fusion imaging for interventional cardiology, enhancing 2D x-ray imaging with 3D models. These developments underscore the company’s focus on innovation and regulatory milestones, despite ongoing financial constraints.