Q2 2024 BioCardia Inc Earnings Call Transcript
Key Points
- BioCardia Inc (BCDA) reported positive interim results from the CardiAMP Heart Failure I trial, showing improved survival, reduced major adverse cardiac events, and enhanced quality of life for patients.
- The CardiAMP Heart Failure II trial is the only confirmatory pivotal trial of a cell therapy in heart failure, with a high statistical probability of success based on interim results.
- BioCardia Inc (BCDA) has expanded its Executive Steering Committee with two additional world-class heart failure clinicians, enhancing the trial's credibility and support.
- The company has made significant progress in other programs, including the CardiAMP cell therapy for chronic myocardial ischemia and a partnership with CellProthera for acute myocardial infarction.
- BioCardia Inc (BCDA) has submitted an FDA application for market clearance of the Morph DNA Steerable Introducers, which could enhance revenue generation and partnering interests.
- BioCardia Inc (BCDA) experienced a tough quarter for its share price, despite delivering on business milestones.
- Revenues for the second quarter of 2024 were significantly lower compared to the same period in 2023, indicating financial challenges.
- The company reported a net loss of $1.6 million for the second quarter of 2024, although this was an improvement from the previous year.
- BioCardia Inc (BCDA) is exploring pathways to secure funding to meet Nasdaq listing requirements, which may involve potential dilution for current shareholders.
- There is uncertainty regarding the approval timeline for CardiAMP in Japan, as the company awaits final data from the CardiAMP Heart Failure I trial.
Ladies and gentlemen, thank you for standing by. Good afternoon. And welcome to the BioCardia second quarter 2024 financial results and business update conference call. (Operator Instructions).
I would now like to turn the call over to Miranda Peto of BioCardia Investor Relations. Please go ahead, Miranda.
Thank you. Good afternoon and thank you for participating in todayâs conference call. Joining me from BioCardiaâs leadership team are Peter Altman Ph.D., President and Chief Executive Officer; and David McClung, the companyâs Chief Financial Officer.
During this call, management will be making forward-looking statements, including statements that address BioCardiaâs expectations for future performance and operational results, references to managementâs intentions, beliefs, projections, outlook, analyses and current expectations. Such factors include, among others, the inherent uncertainties associated with developing new products, technologies and obtaining regulatory approval.
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