BioCardia Reports First Quarter 2022 Business Highlights and Financial Results
SUNNYVALE, Calif., May 11, 2022 (GLOBE NEWSWIRE) -- BioCardia®, Inc. [Nasdaq: BCDA], a developer of cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases, today reported financial results for the first quarter of 2022 and filed its quarterly report on Form 10-Q for the three months ended March 31, 2022 with the Securities and Exchange Commission. The Company will also hold an update conference call today at 4:30 PM ET. Following management’s formal remarks, there will be a question-and-answer session.
Participants can register for the conference by navigating to https://dpregister.com/sreg/10166913/f2b2448b7e. Please note that registered participants will receive their dial-in number upon registration. For those who have not registered, to listen to the call by phone, interested parties within the U.S. should call 1-833-316-0559 and international callers should call 1-412-317-5730. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the BioCardia call. The conference call will also be available through a live webcast, which can be accessed through the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=hA1EhbO5, which is also available through the company’s website.
A webcast replay of the call will be available approximately one hour after the end of the call through August 11, 2022, at the above links. A telephonic replay of the call will be available through May 25, 2022 and may be accessed by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 8381785.
“In the first quarter, we successfully completed many important regulatory and development projects, including securing the FDA’s grant of Breakthrough Designation to the CardiAMP Cell Therapy for the treatment of heart failure, confirming our interpretation of the compelling data from our trials of our lead product candidate. This designation should create opportunities to expedite FDA review and approval of this therapeutic candidate. Our primary challenge remains clinical trial enrollment for our novel proprietary therapies even though each is targeted towards significant unmet clinical needs.” said BioCardia CEO Peter Altman, Ph.D. “Even with three clinical programs now enrolling, we anticipate 2022 revenues surpassing our previous revenue record as a public company in 2021 with our burn rate remaining substantially flat. We anticipate that we will have cash well into Q1 2023 without any additional deals or financings and we intend to deliver on both enrollment and deals in the year ahead.”
RECENT BUSINESS HIGHLIGHTS:
The CardiAMP® Cell Therapy
Allogeneic Cell Therapy for Cardiac and Pulmonary Disease
First Quarter 2022 Financial Results:
ANTICIPATED UPCOMING MILESTONES AND EVENTS:
FORWARD LOOKING STATEMENTS
We may use terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey the uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from the forward-looking statements contained in this press release. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. Additional factors that could materially affect actual results can be found in BioCardia’s Form 10-K filed with the Securities and Exchange Commission on March 29, 2022, under the caption titled “Risk Factors.” BioCardia expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
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