Biocardia CEO Peter Altman buys $1,055 in company stock

BioCardia, Inc. (NASDAQ:BCDA), a micro-cap biotech company with a market capitalization of $11.7 million, saw its President and CEO Peter Altman recently acquire shares in the company, according to a recent SEC filing. On March 3, Altman purchased 500 shares of BioCardia common stock at a weighted average price of $2.11 per share. This transaction, executed in multiple trades with prices ranging from $2.05 to $2.15 per share, totaled an investment of approximately $1,055. Following this purchase, Altman holds a total of 108,420 shares directly. The stock has shown strong momentum, gaining nearly 25% in the past week, though InvestingPro analysis indicates the shares are currently trading above their Fair Value. Notably, while the company maintains a healthy balance sheet with more cash than debt, it faces profitability challenges in the current fiscal year.Want deeper insights into insider trading patterns and 10+ additional exclusive ProTips? Discover more with a subscription to InvestingPro, featuring comprehensive analysis of 1,400+ US stocks.

In other recent news, BioCardia, Inc. has completed the primary outcomes data verification and freezing process for its Phase 3 CardiAMP Heart Failure study. This significant trial, involving 115 randomized patients, aims to evaluate the efficacy of autologous cell therapy for ischemic heart failure with reduced ejection fraction (HFrEF). In parallel developments, BioCardia has completed enrollment and dosing for its Phase I/II CardiALLO Allogeneic Mesenchymal Cell Therapy trial, targeting HFrEF patients with specific markers of heart stress and systemic inflammation. This trial involves a nine-patient dose escalation cohort and a thirty-patient randomized double-blinded placebo-controlled cohort. Additionally, BioCardia is advancing its BCDA-01 therapeutic asset in Japan, with the Pharmaceutical (TADAWUL:2070) and Medical (TASE:BLWV) Device Agency considering the CardiAMP Cell Therapy System for registration based on forthcoming final clinical data. The company’s CEO, Peter Altman, has expressed optimism about the potential for pivotal clinical studies and conditional approval in Japan. BioCardia’s efforts are supported by the Maryland Stem Cell Research Fund and are reimbursed by the Centers for Medicare and Medicaid Services. These recent developments highlight BioCardia’s ongoing progress in the field of cardiovascular therapeutics.

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