Edward M. Gillis, the Senior Vice President of Devices at BioCardia Inc. (NASDAQ:BCDA), a micro-cap biotech company with a market capitalization of $10.42 million, recently sold a portion of his shares in the company. According to a filing with the Securities and Exchange Commission, Gillis sold 3,257 shares of BioCardia common stock on December 20th, at a price of $2.00 per share, totaling $6,514. Following this transaction, Gillis retains ownership of 8,968 shares. The sale was reportedly conducted for tax planning purposes. InvestingPro data shows the stock has experienced a significant decline of nearly 80% year-to-date, though it has recently shown signs of recovery with an 8.7% gain over the past week. While the company maintains a healthy balance sheet with more cash than debt, analysts anticipate sales challenges ahead.Gain deeper insights into BCDA’s insider trading patterns and 12+ additional key metrics with an InvestingPro subscription.
In other recent news, biotechnology company BioCardia, Inc. has been making significant strides in its CardiAMP cell therapy trials for heart failure. The company has reported a decrease in net loss and a strengthened cash position following a public offering. Additionally, BioCardia has been making progress with Japan’s Pharmaceutical (TADAWUL:2070) and Medical (TASE:PMCN) Device Agency (PMDA) for the registration of its leading therapeutic asset, BCDA-01, for treating ischemic heart failure.
CEO Dr. Peter Altman has shared that the PMDA is considering the data from the fully enrolled CardiAMP Heart Failure Trial and previous studies as potential evidence for the registration of the CardiAMP Cell Therapy System in Japan. The company is preparing the final data from the CardiAMP Heart Failure Trial and expects to have it available in the first quarter of 2025.
Furthermore, BioCardia’s BCDA-01 has received Breakthrough Designation from the FDA Center for Biological Evaluation and Research, and its clinical trials in the United States, including BCDA-01 and BCDA-02, benefit from reimbursement from the Center for Medicaid and Medicare Services. Despite facing challenges due to natural disasters, BioCardia remains optimistic about its growth and success in the coming years. These recent developments showcase BioCardia’s determination to advance its therapies and solidify its position in the market.
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