The following is a summary of the BioCardia, Inc. (BCDA) Q4 2023 Earnings Call Transcript:

Financial Performance:

• BioCardia's revenues fell to $0.5 million in 2023 from $1.4 million in the previous year, primarily due to the timing of revenue recognition from its collaboration partners.

• Expenses decreased by 9% with significant savings in research and development expenditure, which dropped to $7.7 million in 2023 from $8.8 million in 2022.

• 2023 ended with a net loss of $11.6 million, slightly less than the $11.9 million net loss in 2022.

• BioCardia had $1.1 million in cash by the end of 2023, sufficient to sustain operations until Q2 2024.

Business Progress:

• BioCardia displayed promising development of lead CardiAMP autologous cell therapy for treating ischemic heart failure.

• Despite missing the primary pre-specified endpoint in the Cardiac Heart Failure clinical trial, the results supported the continuation of the program.

• BioCardia is also advancing with the CardiAMP Heart Failure II study, the CardiAMP cell therapy trial for chronic myocardial ischemia (BCDA-02), and a partnership with StemCardia.

• The company has shifted its Helix Biotherapeutic Delivery Partnering Business to focus on longer-term partnerships, planning to have two additional partners in 2024.

• BioCardia aims to broaden the FDA-cleared Helix system and Morph DNA platform to cover cardiac and peripheral vascular disease indications.

• It has recorded an encouraging reduction in cardiac arrhythmias in the BCDA-01 trial's interim data and plans to pre-specify this as a secondary endpoint in future trials.

• Expansion in the CardiAMP Heart Failure II confirmatory study and consultations with Japan's PMDA remain high on the agenda.

• With five cardiac biotherapeutic programs in development, BioCardia is on track to continue its mission of addressing heart disease.

More details: BioCardia IR

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