# BioCardia, Inc. (BCDA)

> Source: Nexqual · https://nexqual.com/BCDA · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, BioCardia, Inc. (BCDA), nexqual.com/BCDA" · informational, not investment advice.

**Price:** USD 0.92 (-0.83% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 0.93 · day 0.91–0.95 · 52w 0.75–1.8 · market cap $13.9M · NCM

## Key facts
- Insider open-market purchases, last ~7 months: 19 Form 4 filings, $160K; 18 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y -33.8% vs S&P 500 +13.4%; 5Y -97.8% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.0M | $1.4M | $477K | $58K | $0K | — |
| Gross profit | $1.0M | — | — | — | — | — |
| Operating income | -$12.6M | -$11.9M | -$11.6M | -$8.0M | -$8.3M | -$7.4M |
| Net income | -$12.6M | -$11.9M | -$11.6M | -$7.9M | -$8.2M | -$7.3M |
| EPS (diluted) | -$11.25 | — | — | — | — | — |
| Free cash flow | -$10.5M | -$10.6M | -$10.0M | -$7.9M | -$7.4M | -$7.6M |
| Gross margin | 100.0% | — | — | — | — | — |
| Operating margin | -1244.3% | -880.3% | -2441.1% | -13794.8% | — | — |
| Net margin | -1243.6% | -880.7% | -2425.8% | -13700.0% | — | — |
| Revenue growth | +600.0% | +33.2% | -64.7% | -87.8% | -100.0% | — |
| Cash + short-term investments | $12.9M | $7.4M | $1.1M | $2.4M | $2.5M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 5.2x · FCF yield -54.31% · Earnings yield -52.64%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
19 purchases, $160K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-10-15…2026-10-16 | Altman Peter | President and CEO | 500 | $0K | 0.95 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-29 | Altman Peter | President and CEO | 1,000 | $1K | 1.03 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-23 | Altman Peter | President and CEO | 1,900 | $2K | 1.05 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-03 | Altman Peter | President and CEO | 800 | $1K | 1.09 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-17 | Altman Peter | President and CEO | 5,400 | $5K | 0.93 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-13 | Altman Peter | President and CEO | 1,900 | $2K | 0.92 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-29 | Altman Peter | President and CEO | 5,000 | $4K | 0.78 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-17 | Altman Peter | President and CEO | 500 | $0K | 0.83 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-14…2026-07-15 | Altman Peter | President and CEO | 4,300 | $4K | 0.87 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-08…2026-07-10 | Altman Peter | President and CEO | 7,500 | $7K | 0.96 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-08 | Altman Peter | President and CEO | 5,400 | $5K | 0.96 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-22…2026-06-23 | Stertzer Simon H | Director | 109,200 | $104K | 0.95 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17…2026-06-18 | Altman Peter | President and CEO | 2,300 | $2K | 0.89 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-09 | Altman Peter | President and CEO | 5,000 | $4K | 0.85 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-19…2026-05-20 | Altman Peter | President and CEO | 1,700 | $2K | 0.92 | Opportunistic (traded every year 2023–2025, no repeating month) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-24 | HC Wainwright & Co. | Reiterated | Buy | $25 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -33.8% | -97.8% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -33.9% | -53.5% |
| Volatility (annualized) | 68.1% | 94.8% |
| Max drawdown | -47.6% (Dec 2025→Jul 2026) | -98.0% (Oct 2021→Jul 2026) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 303.53 -1.39% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 89.27 -1.79% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.09 -0.35% · PRAX (Praxis Precision Medicines, Inc) USD 252.96 -2.30% · IONS (Ionis Pharmaceuticals, Inc.) USD 42.93 -2.23% · AXSM (Axsome Therapeutics, Inc.) USD 145.04 -7.07%

## More
Full page: https://nexqual.com/BCDA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BCDA's own 10-K filed 2026-03-24 (https://www.sec.gov/Archives/edgar/data/925741/000143774926009587/bcda20251231_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Biomet Biologics | "The CardiAMP autologous cell processing platform is manufactured for us by our partner Biomet Biologics, LLC." |
| Supplier | NASDAQ Stock Market | "Further, delisting from the Nasdaq could also have other negative effects, including potential loss of confidence by partners, lenders, suppliers and employees and could also trigger various defaults under our financing …" |
| Partner | Biomet Biologic | "We are a party to a license and distribution agreement with Biomet Biologics, LLC under which we obtained an exclusive, nontransferable, worldwide distribution right, patent license and trademark license to Biomet Biolog…" |
| Partner | Maryland Technology Development | "In June 2016, we entered into a grant agreement with Maryland Technology Development Corporation (TEDCO)." |
| Competitor | Moderna (MRNA) | "The industry continues to expand and evolve as an increasing number of competitors and potential competitors enter the market, including AstraZeneca, Bayer, Blue Rock Therapeutics, Bristol-Myers Squibb, Lisata Therapeuti…" |

## Customer concentration

Period ended 2024-12-31: 62%, 22%, 16% of revenue from unnamed direct customers (10-K, filed 2026-03-24).

## Company outlook (8-K filed 2026-08-12)

- "As is customary, BioCardia provided draft minutes to FDA on May 12th with expectation that formal revised minutes from FDA or notification that the minutes are accepted and final would be provided on or before June 12 th ."
- "These forward-looking statements are made as of the date of this press release, and BioCardia assumes no obligation to update the forward-looking statements."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.15 | $-0.17 | -11.8% | $0 | 1 |
| Next quarter (ends 2026-12-31) | $-0.21 | $-0.18 | +16.7% | $0 | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.71 | $-0.71 | +0.0% | $0 | 1 |
| Next fiscal year (ends 2027-12-31) | $-0.58 | $-0.56 | +3.6% | $0 | 1 |