aibioBioCardia regains compliance with Nasdaq equity rule
Tickers BCDA
Nasdaq staff told BioCardia in writing that it again meets the Equity Rule, but the 8-K gives no equity figure and does not say how the gap was closed.
Key facts
- Company
- BioCardia, Inc. (NASDAQ: BCDA)
- News type
- Listings
- Primary source
- BioCardia, Inc. 8-K (2025-10-02)
BioCardia, Inc. (Nasdaq: BCDA) said on October 2, 2025 that it had received formal written notice from the staff of The Nasdaq Stock Market, LLC that it has regained compliance with Listing Rule 5550(b)(1). The company calls that rule the Equity Rule. The company said the notice means its common stock will continue to be listed on The Nasdaq Stock Market. The company is based in Sunnyvale, California, and its common stock trades on The Nasdaq Capital Market.
The 8-K gives October 2, 2025 as the date of the report and lists the common stock under the symbol BCDA. It was filed as an Item 8.01 other event. It attaches the company's press release dated October 2, 2025 as Exhibit 99.1, and it is signed by Chief Executive Officer Peter Altman, Ph.D.
What the rule measures
The 8-K does not restate the Equity Rule's threshold, the date on which the company fell out of compliance, or the level of stockholders' equity it reported. It also does not say whether the company had received an earlier deficiency notice, how it restored compliance or whether the restoration came from new shares, warrants or debt.
The 8-K describes the outcome in one sentence. It gives no date by which the company must stay in compliance, and it describes no hearing or other step after the notice. The body of the 8-K carries only the company's one-sentence summary of the Nasdaq staff notice.
The business behind the listing
The company's annual report, filed March 26, 2025, describes BioCardia as a clinical-stage company developing cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases. It is advancing two bone marrow-derived platforms in clinical trials.
Its CardiAMP autologous mononuclear cell therapy is being developed for two indications: ischemic heart failure with reduced ejection fraction, known as HFrEF, and refractory angina from chronic myocardial ischemia. Its allogeneic mesenchymal stem cell therapy, described as off the shelf, is in development for ischemic HFrEF, under the name CardiALLO, which the report says is actively enrolling, and for acute respiratory distress syndrome, under the name PulmALLO.
The report says both cardiac programs use the company's Helix intramyocardial therapeutic delivery platform, which it also partners with others to develop biotherapeutic interventions for local delivery to the heart. The report cites an American Heart Association estimate that 6.0 million American adults aged 20 and older have heart failure, based on 2015 to 2018 data.
The overview describes these programs without reporting trial results. The annual report's forward-looking statements list as risks its ability to raise additional funding, its ability to continue as a going concern and its ability to retain its listing on the Nasdaq Capital Market.
What remains open
The forward-looking statements also name the timing and conduct of clinical trials, the timing or likelihood of regulatory approvals, and the timing and costs of a commercial launch. They add difficulties in maintaining commercial-scale manufacturing, the availability of reimbursement from government and commercial payors, and the threat or imposition of tariffs. The 8-K gives none of these dates or figures.
The 8-K confirms the listing status as of October 2, 2025. It does not say whether the company expects to remain above the Equity Rule's threshold, whether it has raised money recently or how much cash it holds. The filing does not address whether the regained position will hold as the company spends on its trials.