What's Going with BioCardia Stock Friday?

Zinger Key Points
  • BioCardia announced it received approval for its patent application entitled, "Radial and Transendocardial Delivery Catheter."
  • Patent allows for the development of new cell and gene-based therapies for the heart.

BioCardia, Inc. BCDA shares are trading lower Friday, after initially spiking higher, amid increased volatility in the stock following the company’s announcement that it received patent approval.

The Details: On Friday before the market open, BioCardia announced it received approval from the United States Patent Office for its application entitled, “Radial and Transendocardial Delivery Catheter.”

Radial artery delivery uses a wrist blood vessel to deliver biotherapeutic substances and other materials directly to the heart. This method allows patients to leave the hospital soon after with minimal aftercare, reducing hospital costs by eliminating overnight stays.

Currently, BioCardia’s Helix system is the only known system, with patented designs, that enable this type of treatment. The granted patent claims enhance protection for this approach, thereby adding value to both BioCardia’s therapeutic programs and those of our biotherapeutic delivery partners. Additionally, BioCardia’s delivery systems are designed to prevent leakage of therapeutic agents by securely engaging heart tissue.

“Our minimally invasive biotherapeutic delivery platforms enable the successful development of cell and gene-based therapies for the heart,” said Dr. Peter Altman, BioCardia CEO. 

Related Link: Expert Ratings For Relay Therapeutics

BCDA Price Action: At the time of writing, BioCardia stock is 19.6% lower at $3.51, according to data from Benzinga Pro.

Image: 7206876 from Pixabay.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsMoverswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!