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Investing.com - H.C. Wainwright has reiterated a Buy rating and $25.00 price target on BioCardia (NASDAQ:BCDA), representing a significant upside from the current price of $1.11, following the company’s announcement of primary endpoint data from the open-label roll-in cohort of its Phase 3 CardiAMP CMI trial. According to InvestingPro data, the stock has seen a challenging period, down nearly 35% in the past week.
The trial results showed that patients with no option CMI, refractory angina, and on guideline-directed medical therapy experienced an average increase in exercise tolerance of 80 seconds six months after receiving the autologous CD34+ cell therapy.
Patients also demonstrated an average 82% reduction in angina episodes compared to baseline, with substantial improvements in both measures observed in 60% of the patients.
H.C. Wainwright noted that these results surpass prior pooled data from three double-blinded, autologous CD34+ cell therapies, which showed 49.5 seconds of exercise tolerance improvements at six months.
The CardiAMP procedure was well tolerated with no treatment-emergent major adverse cardiac events, supporting the randomization of patients to CardiAMP versus sham in the ongoing trial. With a market capitalization of just $11.77 million, BioCardia’s next earnings report is expected on November 12, 2025, which could be a crucial catalyst for the stock’s performance.
In other recent news, BioCardia Inc. reported its second-quarter 2025 earnings, revealing a net loss of $2 million, which marks an increase from the $1.6 million loss in the same period last year. The company has been actively progressing in its clinical trials and regulatory activities, despite facing higher research and development expenses. BioCardia announced a positive preliminary consultation with Japan’s Pharmaceutical and Medical Device Agency regarding its CardiAMP Heart Failure Trial results, which could lead to a potential approval application in Japan. Additionally, BioCardia has launched a public offering priced to raise $6 million in gross proceeds, consisting of 4.8 million shares of common stock and warrants.
The offering is priced at $1.25 per share, with warrants exercisable immediately and expiring in two years. The company also reported positive outcomes from its CardiAMP Cell Therapy trial for chronic myocardial ischemia, noting significant improvements in patients’ exercise tolerance and a reduction in angina episodes. These developments come as BioCardia continues to advance its therapeutic offerings and engage in strategic financial activities.
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