BioCardia Inc (OTCMKTS:BCDA) is a penny stock play in the biotech space that has been ripping higher of late as the company’s R&D program continues to show promise. We have seen some recent catalysts hit of late to foment momentum, including two major patent announcements. As we have continually pointed out, IP in the biotech space rules everything else. No matter how strong the study data is, if you don’t have the IP in place, the story will eventually break. In this case, BCDA is starting to really have its ducks in a row.
Traders will note more than 100% during the past month in terms of shareholder gains in the company. This is emblematic of the stock. BCDA has a history of dramatic rallies. What’s more, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed nearly 120% beyond what we have been seeing over the larger time frame. This should not be overlooked due to the tight float size in the stock (fewer than 16M shares). It’s something the veterans know to key on: a restricted trading float and a jump in trading volume can crimp supply and push share prices higher.
BioCardia Inc (OTCMKTS:BCDA) bills itself as a clinical-stage regenerative medicine company that develops therapeutics for cardiovascular diseases.
The company offers the Helix biotherapeutic delivery system product line that offers a catheter system for the local delivery of cells, gene, and protein therapeutics to the heart; and the Morph vascular access product line, which offers catheter products for interventional medicine.
Its lead therapeutic candidate is the CardiAMP Cell Therapy System that is in Phase III pivotal trial for ischemic systolic heart failure. The CardiAMP Cell Therapy System comprises cell potency screening test, a point of care cell processing platform, and a biotherapeutic delivery system.
BioCardia, Inc. is also developing CardiALLO Cell Therapy System, which is an allogeneic mesenchymal stem cell-based product candidate from universal donors for use in multiple unrelated patients. The company was formerly known as BioCardia DeviceCo, Inc. and changed its name to BioCardia, Inc. in August 2002.
BioCardia, Inc. was incorporated in 2002 and is based in San Carlos, California.
According to company materials, “BioCardia, Inc., headquartered in San Carlos, CA, is developing regenerative biologic therapies to treat cardiovascular disease. CardiAMP® and CardiALLO® cell therapies are the company’s biotherapeutic product candidates in clinical development. The Company’s current products include the Helix™ transendocardial delivery system and the Morph® steerable guide and sheath catheter portfolio. BioCardia also partners with other biotherapeutic companies to provide its Helix systems and clinical support to their programs studying therapies for the treatment of heart failure, chronic myocardial ischemia and acute myocardial infarction.”
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As noted above, the company has been very active on the IP front. The most recent announcement was in reference to the issuance of United States Patent No. 9,517,199 relating to a method of delivering cells to patients who have chronic myocardial infarcts. This new patent follows United States Patent No. 9,504,642, issued to BioCardia two weeks ago. Dr. Peter Altman, CEO of BioCardia: “We are pleased to have obtained this additional new patent which provides further protection around our CardiAMP program. Our patent strategy is to pursue protection around our active programs where we are investing our resources.”
In addition, just before that, we saw another key announcement on the issuance of United States Patent No. 9,504,642 relating to a method of delivering cells to patients who have chronic myocardial infarcts.
Dr. Peter Altman, CEO of BioCardia: “We are pleased to have obtained this new patent. To our knowledge, BioCardia Inc was the first to recognize the potential of these cells to help patients who have had damaged tissue due to a heart attack in a setting without active myocardial ischemia, and to sponsor clinical development of these cells to help these patients. This patent covers elements of the CardiAMP® cell therapy to be under investigation in the Phase III pivotal CardiAMP Heart Failure Trial beginning soon at up to 40 leading centers in the United States.”
Currently trading at a market capitalization of $168M, BioCardia Inc has a decent store ($552k) of cash on the books, which is balanced by an appreciable load ($6.91M) of total accumulated debt. BCDA is making real money, with trailing 12-month revenues coming in at $645k. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $BCDA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!