BioCardia, Inc. (BCDA) Stock Soaring Today, Here’s the Reason

BioCardia, Inc. (BCDA), a clinical-stage regenerative medicine company, closed Monday’s regular trading session at $2.06 after declining by 0.54% during the day. However, in the current market, BCDA stock has surged by 11.63% and consequently is trading at $2.30 at the time of the writing.

BCDA Got Nod of Approval from FDA

The exuberant performance of BCDA followed the announcement from the company FDA approval of IND for BCA-04. Hours ago, BCDA announced that US FDA had approved its Investigational New Drug (IND) Application for BCDA-04, which is a proprietary allogeneic mesenchymal cell population that is Neurokinin-1 receptor-positive. BCDA-04 allows the company to initiate its First-in-Human Phase I/II trial in patients who are recovering from Acute Respiratory Distress Syndrome.

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Healthcare Stocks Having a Shaky Time

Healthcare stocks are believed to be relatively less shaky in the wake of mercurial geopolitical circumstances, just like we are witnessing nowadays. They are relatively immune to state-level issues and frictions, as well as get less affected by the economically tumultuous situation as well. The healthcare industry has shown steady growth over the last few years and is expected to grow at the same pace in the future.

BCDA Product Candidates

BCDA is currently working on the development of different product candidates. They include CardiAMP(TM), CardiALLO(TM), and Helix Biotherapeutic Delivery System(TM), with the lead product being CardiAMP Cell Therapy System, which would be used for the treatment of heart failure and chronic myocardial ischemia. All of these products are in the clinical developmental stage.

Concluding Remarks

During the last 12 months, BCDA has slid more than 48%. The obstacles faced during the developmental stages of the product have proved to be the reason behind this lacklustre performance. However, being on the cheaper side now is the best time to buy BCDA stock as the stock is expected to make gains in the next few weeks.

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