BioCardia reported Q2 2024 financial results with revenue of $3,000, down from $43,000 in Q2 2023. Net loss improved to $1.6 million compared to $3.4 million in the prior year quarter, primarily due to reduced operating expenses following completion of CardiAMP Cell Therapy Heart Failure Trial enrollment in late 2023.Research and development expenses decreased to $800,000 from $2.3 million year-over-year, while selling, general and administrative costs declined to $852,000 from $1.2 million, reflecting staff reductions and lower personnel expenses. The company ended the quarter with $1.4 million in cash and cash equivalents, up slightly from $1.1 million at 2023 year-end.Management indicates current cash is insufficient to fund operations through September 2024, raising substantial doubt about continuing as a going concern. The company plans to raise additional capital through various means including a potential offering under its recently filed S-1 registration statement, though success is not assured. BioCardia must also demonstrate compliance with Nasdaq's minimum stockholders' equity requirements by September 2, 2024 to maintain listing.

BioCardia reported Q2 2024 financial results with revenue of $3,000, down from $43,000 in Q2 2023. Net loss improved to $1.6 million compared to $3.4 million in the prior year quarter, primarily due to reduced operating expenses following completion of CardiAMP Cell Therapy Heart Failure Trial enrollment in late 2023.Research and development expenses decreased to $800,000 from $2.3 million year-over-year, while selling, general and administrative costs declined to $852,000 from $1.2 million, reflecting staff reductions and lower personnel expenses. The company ended the quarter with $1.4 million in cash and cash equivalents, up slightly from $1.1 million at 2023 year-end.Management indicates current cash is insufficient to fund operations through September 2024, raising substantial doubt about continuing as a going concern. The company plans to raise additional capital through various means including a potential offering under its recently filed S-1 registration statement, though success is not assured. BioCardia must also demonstrate compliance with Nasdaq's minimum stockholders' equity requirements by September 2, 2024 to maintain listing.