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SUNNYVALE, CA — Simon Stertzer, a director at BioCardia, Inc. (NASDAQ:BCDA), recently purchased 1,000 shares of the company’s common stock, according to a recent SEC filing. The shares were acquired at a price of $2.45 each, totaling an investment of $2,450. The purchase comes as BioCardia’s stock has shown strong momentum, posting a 28% gain over the past week. According to InvestingPro, the company maintains a healthy balance sheet with more cash than debt.
Following this transaction, Stertzer’s direct ownership stands at 57,138 shares. Additionally, he holds indirect interests in several trusts and entities, including the Stertzer Family Trust and Windrock Enterprises L.L.C., which collectively own shares in BioCardia. With a market capitalization of $11.8 million, analysts have set price targets ranging from $6 to $25, suggesting potential upside from current levels. InvestingPro offers 10+ additional insights and a comprehensive research report for deeper analysis of BioCardia’s prospects.
This acquisition reflects Stertzer’s continued involvement and investment in the company, which operates in the life sciences sector, focusing on biological products. BioCardia is headquartered in Sunnyvale, California.
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 involved 115 randomized patients and is one of the largest of its kind for ischemic heart failure with reduced ejection fraction. The data has been transferred for analysis, with results expected to be presented in March 2025. Additionally, BioCardia has completed enrollment and dosing for the low-dose cohort in its Phase I/II trial of CardiALLO Allogeneic Mesenchymal Cell Therapy, targeting similar heart failure conditions. This trial aims to establish safety and efficacy for allogeneic mesenchymal stem cells in treating patients with elevated markers of heart stress and inflammation. The CardiALLO trial involves a nine-patient dose escalation cohort, followed by a thirty-patient randomized, double-blinded, placebo-controlled cohort. BioCardia’s CEO expressed confidence in the potential of the CardiALLO MSC program to lead to pivotal clinical studies in the U.S. and conditional approval in Japan. The company’s manufacturing process for these cells is expected to be commercially scalable, supporting further developments in their biotherapeutic platforms.
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