BioCardia (BCDA) 10-Q 14 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 13, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38999
Entity Registrant Name	BioCardia, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2753988
Entity Address, Address Line One	320 Soquel Way
Entity Address, City or Town	Sunnyvale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94085
City Area Code	650
Local Phone Number	226-0120
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		27,304,116
Entity Central Index Key	0000925741
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	BCDA
Security Exchange Name	NASDAQ
Warrant [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrant to Purchase Common Stock
Trading Symbol	BCDAW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Cash and cash equivalents	$ 949,000	$ 1,103,000
Accounts receivable, net of allowance for doubtful accounts of $22 and $11 as of September 30, 2023 and December 31, 2022, respectively	58,000	63,000
Prepaid expenses and other current assets	252,000	295,000
Total current assets	1,259,000	1,461,000
Property and equipment, net	75,000	94,000
Operating lease right-of-use asset, net	1,174,000	1,261,000
Other assets	171,000	171,000
Total assets	2,679,000	2,987,000
Accounts payable	1,030,000	890,000
Accrued expenses and other current liabilities	2,696,000	2,385,000
Operating lease liability - current	345,000	333,000
Total current liabilities	4,071,000	3,608,000
Operating lease liability - noncurrent	883,000	982,000
Total liabilities	4,954,000	4,590,000
Commitments and Contingencies
Preferred stock, $0.001 par value, 25,000,000 shares authorized and no shares issued and outstanding as of March 31, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,836,389 and 23,666,534 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	27,000	24,000
Additional paid-in capital	152,140,000	150,548,000
Accumulated deficit	(154,442,000)	(152,175,000)
Total stockholders’ equity (deficit)	(2,275,000)	(1,603,000)
Total liabilities and stockholders’ equity (deficit)	$ 2,679,000	$ 2,987,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 10	$ 34
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized (in shares)	25,000,000	25,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares, Outstanding (in shares)	26,836,389	23,666,534
Common Stock, Shares, Issued (in shares)	26,836,389	23,666,534

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Product and Service [Extensible Enumeration]	Collaboration Agreement [Member]	Collaboration Agreement [Member]
Total revenue	$ 55	$ 64
Research and development	1,241	2,384
Selling, general and administrative	1,089	1,190
Total costs and expenses	2,330	3,574
Operating loss	(2,275)	(3,510)
Total other income, net	8	9
Net loss	$ (2,267)	$ (3,501)
Net loss per share, basic and diluted (in dollars per share)	$ (0.09)	$ (0.17)
Weighted-average shares used in computing net loss per share, basic and diluted (in shares)	25,133,093	20,177,167

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member] ATM [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] ATM [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member] ATM [Member]	Retained Earnings [Member]	ATM [Member]	Total
Balance (in shares) at Dec. 31, 2022		20,076,773
Balance at Dec. 31, 2022		$ 20		$ 145,476		$ (140,604)		$ 4,892
Sale of common stock, net of issuance costs (in shares)	106,241
Sale of common stock, net of issuance costs	$ 0		$ 231		$ 0		$ 231
Exercise of common stock options (in shares)		199
Exercise of common stock options				0				0
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares)		18,792
Share-based compensation				278				278
Net loss						(3,501)	(3,501)	(3,501)
Share-based compensation				278				278
Balance (in shares) at Mar. 31, 2023		20,202,005
Balance at Mar. 31, 2023		$ 20		145,985		(144,105)		1,900
Balance (in shares) at Dec. 31, 2023		23,666,534
Balance at Dec. 31, 2023		$ 24		150,548		(152,175)		(1,603)
Sale of common stock, net of issuance costs (in shares)	1,156,877	2,012,978
Sale of common stock, net of issuance costs	$ 1	$ 2	$ 558	830	$ 0	0	559	832
Share-based compensation		0		204		0		204
Net loss		0		0		(2,267)	$ (2,267)	(2,267)
Share-based compensation		$ 0		204		0		204
Balance (in shares) at Mar. 31, 2024		26,836,389
Balance at Mar. 31, 2024		$ 27		$ 152,140		$ (154,442)		$ (2,275)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2022
ATM [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs		$ 32	$ 13
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 43

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net loss	$ (2,267)	$ (3,501)
Depreciation	19	22
Reduction in the carrying amount of right-of-use assets	87	79
Share-based compensation	204	278
Allowance for doubtful accounts	(24)	0
Accounts receivable	29	48
Prepaid expenses and other current assets	43	20
Accounts payable	155	345
Accrued expenses and other current liabilities	311	226
Deferred revenue	0	(1)
Operating lease liability	(87)	(76)
Net cash used in operating activities	(1,530)	(2,560)
Purchase of property and equipment	0	(10)
Net cash used in investing activities	0	(10)
Proceeds from sales of common stock	1,466	244
Issuance costs of sale of common stock	(90)	(180)
Net cash provided by financing activities	1,376	64
Net change in cash and cash equivalents	(154)	(2,506)
Cash and cash equivalents at beginning of period	1,103	7,363
Cash and cash equivalents at end of period	949	4,857
Unpaid issuance costs of common stock	$ 181	$ 6

Note 1 - Summary of Business an

Note 1 - Summary of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	(1) Summary of Business and Basis of Presentation Description of Business BioCardia, Inc. (we, us, our, BioCardia or the Company), is a clinical-stage company focused on developing cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases with significant unmet medical needs. We are advancing two cell therapy platforms derived from bone marrow in clinical trials today. Our CardiAMP® autologous mononuclear cell therapy platform is being advanced for two clinical indications: ischemic heart failure with reduced ejection fraction (HFrEF) and refractory angina resulting from chronic myocardial ischemia (CMI). Our allogeneic mesenchymal stem cell (MSC) therapy platform is being advanced as an “off the shelf” cell therapy for two clinical indications: the treatment of ischemic HFrEF and for acute respiratory distress syndrome (ARDS). Our autologous and our allogeneic cell therapies intended for cardiac indications of HFrEF and CMI are enabled by our Helix™ minimally invasive intramyocardial therapeutic delivery platform. We partner this therapeutic delivery platform selectively with others seeking to develop biotherapeutic interventions for local delivery to the heart. To date, we have devoted substantially all our resources to research and development efforts relating to our therapeutic candidates and biotherapeutic delivery systems including conducting clinical trials, developing manufacturing and sales capabilities, in-licensing related intellectual property, providing general and administrative support for these operations and protecting our intellectual property. We manage our operations as a single segment for the purposes of assessing performance and making operating decisions.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	(2) Significant Accounting Policies (a) Basis of Preparation The accompanying condensed consolidated balance sheets, statements of operations, stockholders’ equity (deficit), and cash flows as of March 31, 2024, and for the three months ended March 31, 2024 and 2023 are unaudited. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information and on a basis consistent with the annual financial statements and, in the opinion of management, reflect all adjustments which include only normal recurring adjustments, necessary to present fairly our financial position as of March 31, 2024, results of operations for the three months ended March 31, 2024 and 2023, and cash flows for the three months ended March 31, 2024 and 2023. The results for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the year ended December 31, 2024 or for any other interim period or for any other future year. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 27, 2024. (b) Liquidity Going Concern We have incurred net losses and negative cash flows from operations since our inception and had an accumulated deficit of approximately $154.4 million as of March 31, 2024. Management expects operating losses and negative cash flows to continue through at least the next several years. We expect to incur increasing costs as we advance our trials and development activities. Therefore, absent additional funding, management believes cash and cash equivalents of $949,000 as of March 31, 2024 are not sufficient to fund our planned expenditures and meet our obligations beyond June 2024. These factors raise substantial doubt about our ability to continue as a going concern beyond one year from the date these financial statements are issued. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our ability to continue as a going concern and to continue further development of our therapeutic candidates beyond June 2024 will require us to raise additional capital. We plan to raise additional capital, potentially including debt and equity arrangements, to finance our future operations. While management believes this plan to raise additional funds will alleviate the conditions that raise substantial doubt, these plans are not entirely within its control and cannot be assessed as being probable of occurring. If adequate funds are not available, we may be required to reduce operating expenses, delay or reduce the scope of our product development programs, obtain funds through arrangements with others that may require us to relinquish rights to certain of our technologies or products that we would otherwise seek to develop or commercialize, or cease operations. (c) Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include clinical accruals, share-based compensation, right-of-use assets and related liabilities, incremental borrowing rate, the useful lives of property and equipment, allowances for doubtful accounts and sales returns, and assumptions used for revenue recognition. (d) Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, BioCardia Lifesciences, Inc. All intercompany accounts and transactions have been eliminated during the consolidation process. (e) Concentration of Credit Risk Financial instruments that potentially subject us to a concentration of credit risk consist of cash and cash equivalents. Our cash at times exceeds federally insured limits of $250,000 per customer. On March 31, 2024, approximately 95% of our cash and cash equivalents were held by one financial institution and total amounts on deposit were $652,000 in excess of FDIC insurance limits. We have not recognized any losses from credit risks on such accounts since inception. (f) Changes to Significant Accounting Policies Our significant accounting policies are described in Note 2 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 27, 2024. There have been no changes to those policies. (g) Recent Accounting Pronouncements Recent accounting pronouncements issued by the Financial Accounting Standards Board (FASB), including its Emerging Issues Task Force, did not or are not believed by management to have a material impact on our financial statement presentation or disclosures.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	(3) Fair Value Measurement The fair value of financial instruments reflects the amounts that we estimate to receive in connection with the sale of an asset or paid in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). We follow a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels: Level 1 – quoted prices in active markets for identical assets and liabilities. Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table sets forth the fair value of our financial assets measured on a recurring basis and indicates the fair value hierarchy utilized to determine such fair value (in thousands): As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 2 $ — $ — $ 2 Cash in savings account — — — 580 Cash in checking account — — — 367 Total cash and cash equivalents $ 2 $ — $ — $ 949 As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 2 $ — $ — $ 2 Cash in savings account — — — 1,072 Cash in checking account — — — 29 Total cash and cash equivalents $ 2 $ — $ — $ 1,103

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	(4) Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2024 2023 Computer equipment and software $ 161 $ 161 Laboratory and manufacturing equipment 574 574 Furniture and fixtures 27 27 Leasehold improvements 26 26 Property and equipment, gross 788 788 Less accumulated depreciation (713 ) (694 ) Property and equipment, net $ 75 $ 94

Note 5 - Operating Lease Right-

Note 5 - Operating Lease Right-of-use Asset, Net	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	(5) Operating Lease Right-of-Use (ROU) Asset, Net We determine if an arrangement is a lease at inception by assessing whether it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Our operating lease relates to a property lease for its laboratory and corporate offices which expires in January 2027. BioCardia’s lease agreement does not contain any material residual guarantees or material restrictive covenants. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Our lease does not provide an implicit rate. We used an adjusted historical incremental borrowing rate, based on the information available at the approximate lease commencement date, to determine the present value of lease payments. Variable rent expense is made up of expenses for common area maintenance and shared utilities and were not included in the determination of the present value of lease payments. We have no finance leases. Our lease expense was $121,000 for each of the three months ended March 31, 2024 and 2023. The cash paid under the operating lease for base rent for the three months ended March 31, 2024 and 2023 was $121,000 and $118,000, respectively. On March 31, 2024, the weighted average remaining lease term was 2.84 years, and the weighted average discount rate was 10.74%. Future minimum lease payments under the operating lease as of March 31, 2024 were as follows (in thousands): Remainder of 2024 $ 364 2025 499 2026 514 2027 44 Total undiscounted lease payments 1,421 Less imputed interest 193 Total operating lease liabilities $ 1,228

Note 6 - Accrued Expenses and O

Note 6 - Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accrued Liabilities and Other Current Liabilities Disclosure [Text Block]	(6) Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): March 31, December 31, 2024 2023 Accrued expenses $ 116 $ 75 Accrued salaries and employee benefits 837 661 Accrued clinical trial costs 1,140 1,017 Grant liability 471 471 Customer deposits 90 90 Payable to related party 42 71 Total $ 2,696 $ 2,385

Note 7 - Stockholders' Equity

Note 7 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Equity [Text Block]	(7) Stockholders’ Equity Warrants Number of Weighted Common Stock Average Warrants Exercise Price Balance as of December 31, 2023 2,128,429 $ 6.30 Warrants for common stock sold 1,006,488 0.44 Balance as of March 31, 2024 3,134,917 $ 4.42 February 2024 Financing - At-the-Market (ATM) Offerings - On December 6, 2023, we entered into an At The Market Offering Agreement (the Sales Agreement) with H.C. Wainwright & Co., LLC (HCW). Under the Sales Agreement, we may offer and sell our common stock, from time to time having an aggregate offering price of up to $2.75 million during the term of the Sales Agreement through or to HCW as sales agent or principal. We have filed a prospectus supplement relating to the offer and sale of the shares pursuant to the Sales Agreement. The offering and sale of the shares will be made pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333-275099), which was initially filed with the Securities and Exchange Commission (the “SEC”) on October 19, 2023 and declared effective on December 5, 2023. We have agreed to pay HCW a commission equal to 3% of the gross proceeds from the sales of shares and have agreed to provide HCW with customary indemnification and contribution rights. During the three months ended March 31, 2024 and 2023, we sold an aggregate of 1,156,877 and 106,241 shares of common stock under the ATM Offerings at then-market prices for total gross proceeds of $591,000 and $244,000, with associated issuance costs of $32,000 and $13,000, respectively.

Note 8 - Share-based Compensati

Note 8 - Share-based Compensation	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	(8) Share-Based Compensation The share-based compensation expense is recorded in research and development, and selling, general and administrative expenses based on the employee's or non-employee’s respective function. No share-based compensation was capitalized during the periods presented. Share-based compensation expense for the three months ended March 31, 2024 and 2023 was recorded as follows (in thousands): Three months ended March 31, 2024 2023 Research and development $ 115 $ 139 Selling, general and administrative 89 139 Total share-based compensation $ 204 $ 278 The following table summarizes the activity of stock options and related information: Number of shares Weighted average exercise price Weighted average remaining contractual term (years) Aggregate intrinsic value (in thousands) Balance, December 31, 2023 2,486,767 $ 3.51 6.8 $ 43 Stock options forfeited (47,657 ) 2.26 Balance, March 31, 2024 2,439,110 $ 3.54 6.6 $ 1 Exercisable, March 31, 2024 1,601,718 $ 4.49 5.6 $ — Unrecognized share-based compensation for employee and nonemployee options granted through March 31, 2024 is approximately $1.2 million to be recognized over a remaining weighted average service period of 2.1 years. Share-Based Compensation (RSUs) There were no

Note 9 - Net Loss Per Share

Note 9 - Net Loss Per Share	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	(9) Net Loss per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding and fully vested restricted stock units. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Common stock equivalents are comprised of unvested restricted stock units, warrants to purchase common stock and options outstanding under the stock option plans. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding since the effects of potentially dilutive securities are antidilutive due to the net loss position. The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive: March 31, 2024 2023 Stock options to purchase common stock 2,439,110 2,168,450 Unvested restricted stock units — 2,734 Common stock warrants 3,134,917 2,424,724 Total 5,574,027 4,595,908

Note 10 - Income Taxes

Note 10 - Income Taxes	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(10) Income Taxes During the three months ended March 31, 2024 and 2023, there was no As of March 31, 2024, we retain a full valuation allowance on our deferred tax assets in all jurisdictions. The realization of our deferred tax assets depends primarily on our ability to generate future taxable income which is uncertain. We do not believe that our deferred tax assets are realizable on a more-likely-than-not basis; therefore, the net deferred tax assets have been fully offset by a valuation allowance.

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	(11) Related Party Transactions On April 9, 2020, we entered into a Litigation Funding Agreement (Funding Agreement) with BSLF, L.L.C. (Funder), an entity owned and controlled by Andrew Blank, Chair of BioCardia’s board of directors, for the purpose of funding our legal proceedings and any and all claims, actions and/or proceedings relating to or arising from the case captioned Boston Scientific Corp., et al., v. BioCardia Inc., Case No. 3:19-05645-VC, U.S.D.C., N. D. Cal (the Litigation). On April 12, 2021, all parties to the Litigation entered into a confidential settlement agreement and all claims were dismissed. In March 2022, we entered into confidential settlement agreements with our litigation service providers and the Funder to terminate the Funding Agreement and conclude all remaining matters thereunder (the Litigation Funding Settlement). Under the terms of the Litigation Funding Settlement, litigation and corporate counsel provided credits and refunds of legal fees totaling $688,000, which offset the amounts owed to us by the Funder under the Funding Agreement, and provided up to $300,000 in future discounts on legal services. As a result of the Litigation Funding Settlement, we will remit the discounts, as received, to the Funder on a quarterly basis. During the three months ended March 31, 2024 and 2023, we received discounts totaling $110,000 and $33,000, respectively. As of March 31, 2024 and December 31, 2023, we recorded a related party payable for discounts owed to the Funder in accrued expenses and other current liabilities of $42,000 and $71,000, respectively. With the accrual of $42,000 as of March 31, 2024, all of the future potential discounts have been collected on behalf of the Funder.

Note 12 - Contingencies and Unc

Note 12 - Contingencies and Uncertainties	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Contingencies Disclosure [Text Block]	(12) Contingencies We may be subject to various claims, complaints, and legal actions that arise from time to time in the normal course of business. Management is not aware of any current legal or administrative proceedings that are likely to have an adverse effect on our business, financial position, results of operations, or cash flows.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5. OTHER INFORMATION During the three months ended March 31, 2024, none
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	(a) Basis of Preparation The accompanying condensed consolidated balance sheets, statements of operations, stockholders’ equity (deficit), and cash flows as of March 31, 2024, and for the three months ended March 31, 2024 and 2023 are unaudited. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information and on a basis consistent with the annual financial statements and, in the opinion of management, reflect all adjustments which include only normal recurring adjustments, necessary to present fairly our financial position as of March 31, 2024, results of operations for the three months ended March 31, 2024 and 2023, and cash flows for the three months ended March 31, 2024 and 2023. The results for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the year ended December 31, 2024 or for any other interim period or for any other future year. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 27, 2024.
Going Concern and Liquidity [Policy Text Block]	(b) Liquidity Going Concern We have incurred net losses and negative cash flows from operations since our inception and had an accumulated deficit of approximately $154.4 million as of March 31, 2024. Management expects operating losses and negative cash flows to continue through at least the next several years. We expect to incur increasing costs as we advance our trials and development activities. Therefore, absent additional funding, management believes cash and cash equivalents of $949,000 as of March 31, 2024 are not sufficient to fund our planned expenditures and meet our obligations beyond June 2024. These factors raise substantial doubt about our ability to continue as a going concern beyond one year from the date these financial statements are issued. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our ability to continue as a going concern and to continue further development of our therapeutic candidates beyond June 2024 will require us to raise additional capital. We plan to raise additional capital, potentially including debt and equity arrangements, to finance our future operations. While management believes this plan to raise additional funds will alleviate the conditions that raise substantial doubt, these plans are not entirely within its control and cannot be assessed as being probable of occurring. If adequate funds are not available, we may be required to reduce operating expenses, delay or reduce the scope of our product development programs, obtain funds through arrangements with others that may require us to relinquish rights to certain of our technologies or products that we would otherwise seek to develop or commercialize, or cease operations.
Use of Estimates, Policy [Policy Text Block]	(c) Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include clinical accruals, share-based compensation, right-of-use assets and related liabilities, incremental borrowing rate, the useful lives of property and equipment, allowances for doubtful accounts and sales returns, and assumptions used for revenue recognition.
Consolidation, Policy [Policy Text Block]	(d) Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, BioCardia Lifesciences, Inc. All intercompany accounts and transactions have been eliminated during the consolidation process.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	(e) Concentration of Credit Risk Financial instruments that potentially subject us to a concentration of credit risk consist of cash and cash equivalents. Our cash at times exceeds federally insured limits of $250,000 per customer. On March 31, 2024, approximately 95% of our cash and cash equivalents were held by one financial institution and total amounts on deposit were $652,000 in excess of FDIC insurance limits. We have not recognized any losses from credit risks on such accounts since inception.
Change to Significant Accounting Policies [Policy Text Block]	(f) Changes to Significant Accounting Policies Our significant accounting policies are described in Note 2 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 27, 2024. There have been no changes to those policies.
New Accounting Pronouncements, Policy [Policy Text Block]	(g) Recent Accounting Pronouncements Recent accounting pronouncements issued by the Financial Accounting Standards Board (FASB), including its Emerging Issues Task Force, did not or are not believed by management to have a material impact on our financial statement presentation or disclosures.

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 2 $ — $ — $ 2 Cash in savings account — — — 580 Cash in checking account — — — 367 Total cash and cash equivalents $ 2 $ — $ — $ 949 As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 2 $ — $ — $ 2 Cash in savings account — — — 1,072 Cash in checking account — — — 29 Total cash and cash equivalents $ 2 $ — $ — $ 1,103

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2024 2023 Computer equipment and software $ 161 $ 161 Laboratory and manufacturing equipment 574 574 Furniture and fixtures 27 27 Leasehold improvements 26 26 Property and equipment, gross 788 788 Less accumulated depreciation (713 ) (694 ) Property and equipment, net $ 75 $ 94

Note 5 - Operating Lease Righ_2

Note 5 - Operating Lease Right-of-use Asset, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Remainder of 2024 $ 364 2025 499 2026 514 2027 44 Total undiscounted lease payments 1,421 Less imputed interest 193 Total operating lease liabilities $ 1,228

Note 6 - Accrued Expenses and_2

Note 6 - Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accrued Liabilities and Other Current Liabilities [Table Text Block]	March 31, December 31, 2024 2023 Accrued expenses $ 116 $ 75 Accrued salaries and employee benefits 837 661 Accrued clinical trial costs 1,140 1,017 Grant liability 471 471 Customer deposits 90 90 Payable to related party 42 71 Total $ 2,696 $ 2,385

Note 7 - Stockholders' Equity (

Note 7 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of Weighted Common Stock Average Warrants Exercise Price Balance as of December 31, 2023 2,128,429 $ 6.30 Warrants for common stock sold 1,006,488 0.44 Balance as of March 31, 2024 3,134,917 $ 4.42

Note 8 - Share-based Compensa_2

Note 8 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Share-based Compensation, Expense [Table Text Block]	Three months ended March 31, 2024 2023 Research and development $ 115 $ 139 Selling, general and administrative 89 139 Total share-based compensation $ 204 $ 278
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of shares Weighted average exercise price Weighted average remaining contractual term (years) Aggregate intrinsic value (in thousands) Balance, December 31, 2023 2,486,767 $ 3.51 6.8 $ 43 Stock options forfeited (47,657 ) 2.26 Balance, March 31, 2024 2,439,110 $ 3.54 6.6 $ 1 Exercisable, March 31, 2024 1,601,718 $ 4.49 5.6 $ —

Note 9 - Net Loss Per Share (Ta

Note 9 - Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	March 31, 2024 2023 Stock options to purchase common stock 2,439,110 2,168,450 Unvested restricted stock units — 2,734 Common stock warrants 3,134,917 2,424,724 Total 5,574,027 4,595,908

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Retained Earnings (Accumulated Deficit), Total	$ (154,442,000)	$ (152,175,000)
Cash and Cash Equivalents, at Carrying Value, Total	$ 949,000	$ 1,103,000
Cash, Percentage Held in One Financial Institution	95%
Cash, Uninsured Amount	$ 652,000

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurement - Fair Value of Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Total cash and cash equivalents	$ 949	$ 1,103
Fair Value, Inputs, Level 1 [Member]
Total cash and cash equivalents	2	2
Fair Value, Inputs, Level 2 [Member]
Total cash and cash equivalents	0	0
Fair Value, Inputs, Level 3 [Member]
Total cash and cash equivalents	0	0
Money Market Funds [Member]
Total cash and cash equivalents	2	2
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Total cash and cash equivalents	2	2
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Total cash and cash equivalents	0	0
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Total cash and cash equivalents	0	0
Savings Account [Member]
Total cash and cash equivalents	580	1,072
Savings Account [Member] | Fair Value, Inputs, Level 1 [Member]
Total cash and cash equivalents	0	0
Savings Account [Member] | Fair Value, Inputs, Level 2 [Member]
Total cash and cash equivalents	0	0
Savings Account [Member] | Fair Value, Inputs, Level 3 [Member]
Total cash and cash equivalents	0	0
Demand Deposits [Member]
Total cash and cash equivalents	367	29
Demand Deposits [Member] | Fair Value, Inputs, Level 1 [Member]
Total cash and cash equivalents	0	0
Demand Deposits [Member] | Fair Value, Inputs, Level 2 [Member]
Total cash and cash equivalents	0	0
Demand Deposits [Member] | Fair Value, Inputs, Level 3 [Member]
Total cash and cash equivalents	$ 0	$ 0

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Depreciation	$ 19,000	$ 22,000

Note 4 - Property and Equipme_4

Note 4 - Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property and equipment, gross	$ 788	$ 788
Less accumulated depreciation	(713)	(694)
Property and equipment, net	75	94
Computer Equipment and Software [Member]
Property and equipment, gross	161	161
Laboratory and Manufacturing Equipment [Member]
Property and equipment, gross	574	574
Furniture and Fixtures [Member]
Property and equipment, gross	27	27
Leasehold Improvements [Member]
Property and equipment, gross	$ 26	$ 26

Note 5 - Operating Lease Righ_3

Note 5 - Operating Lease Right-of-use Asset, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Lease, Expense	$ 121,000	$ 121,000
Operating Lease, Payments	$ 121,000	$ 118,000
Operating Lease, Weighted Average Remaining Lease Term	2 years 10 months 2 days
Operating Lease, Weighted Average Discount Rate, Percent	10.74%

Note 5 - Operating Lease Righ_4

Note 5 - Operating Lease Right-of-use Asset, Net - Future Minimum Lease Payments Under Operating Lease (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Remainder of 2023	$ 364
2025	499
2026	514
2027	44
Total undiscounted lease payments	1,421
Less imputed interest	193
Total operating lease liabilities	$ 1,228

Note 6 - Accrued Expenses and_3

Note 6 - Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accrued expenses	$ 116	$ 75
Accrued salaries and employee benefits	837	661
Accrued clinical trial costs	1,140	1,017
Grant liability	471	471
Customer deposits	90	90
Total	2,696	2,385
Related Party [Member]
Payable to related party	$ 42	$ 71

Note 7 - Stockholders' Equity_2

Note 7 - Stockholders' Equity (Details Textual) - USD ($)			3 Months Ended		12 Months Ended
	Feb. 09, 2024	Apr. 12, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 06, 2023	Sep. 30, 2023	Dec. 31, 2022
Class of Warrant or Right, Exercise Price of Warrants or Rights							$ 4.42	$ 6.3
Payments of Stock Issuance Costs			$ 90,000	$ 180,000
Proceeds from Issuance of Common Stock			$ 1,466,000	$ 244,000
February 2024 Financing [Member]
Stock Issued During Period, Shares, New Issues (in shares)	2,012,978
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,006,488
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.4423
Proceeds from Issuance of Common Stock	$ 875,000
Payments of Stock Issuance Costs	$ 43,000
Sales Agreement with Cantor Fitzgerald Co (Cantor) [Member]
Stock Issued During Period, Shares, New Issues (in shares)			1,156,877	106,241
Payments of Stock Issuance Costs			$ 32,000	$ 13,000
Sale of Stock, Aggregate Value, Maximum		$ 10,500,000
Accrued Sales Commission, Current, Percentage		3%
Proceeds from Issuance of Common Stock			$ 591,000	$ 244,000
Sales Agreement With H.C. Wainwright & Co., LLC [Member]
Sale of Stock, Aggregate Value, Maximum					$ 2,750,000
Accrued Sales Commission, Current, Percentage						3%

Note 7 - Stockholders' Equity -

Note 7 - Stockholders' Equity - Warrants (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Balance , number of common stock warrants (in shares) | shares	2,128,429
Balance, weighted average exercise price (in dollars per share) | $ / shares	$ 6.3
Warrants for common stock sold , number of common stock warrants (in shares) | shares	1,006,488
Warrants for common stock sold, weighted average exercise price (in dollars per share) | $ / shares	$ 0.44
Balance , number of common stock warrants (in shares) | shares	3,134,917
Balance as, weighted average exercise price (in dollars per share) | $ / shares	$ 4.42

Note 8 - Share-based Compensa_3

Note 8 - Share-based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 0	$ 0
Employees, Non-employees and Non-employee Directors [Member]
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 1,200
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 1 month 6 days

Note 8 - Share-based Compensa_4

Note 8 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Total share-based compensation	$ 204	$ 278
Research and Development Expense [Member]
Total share-based compensation	115	139
Selling, General and Administrative Expenses [Member]
Total share-based compensation	$ 89	$ 139

Note 8 - Share-based Compensa_5

Note 8 - Share-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Dec. 31, 2022
Balance, number of shares (in shares)		2,486,767
Balance, weighted average exercise price (in dollars per share)		$ 3.51
Balance, weighted average remaining contractual term (Year)	6 years 7 months 6 days		6 years 9 months 18 days
Balance, aggregate intrinsic value	$ 1		$ 43
Stock options granted, number of shares (in shares)		47,657
Stock options granted, weighted average exercise price (in dollars per share)		$ 2.26
Balance, March 31, 2024 (in shares)	2,439,110		2,486,767
Balance, March 31, 2024 (in dollars per share)	$ 3.54		$ 3.51
Exercisable, March 31, 2024 (in shares)	1,601,718
Exercisable, March 31, 2024 (in dollars per share)	$ 4.49
Exercisable, March 31, 2024 (Year)	5 years 7 months 6 days
Exercisable, March 31, 2024	$ 0

Note 9 - Net Loss Per Share - A

Note 9 - Net Loss Per Share - Anti-dilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive securities (in shares)	5,574,027	4,595,908
Share-Based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	2,439,110	2,168,450
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	0	2,734
Warrant [Member]
Antidilutive securities (in shares)	3,134,917	2,424,724

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Expense (Benefit)	$ 0	$ 0

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual) - Funding Agreement [Member] - BSLF, L.L.C. [Member] - USD ($)	1 Months Ended		3 Months Ended
	Mar. 31, 2022	Mar. 29, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Legal Fees	$ 688,000
Maximum Discount on Legal Service		$ 300,000
Litigation Service, Expense			$ 110,000	$ 33,000
Other Liabilities, Current			42,000		$ 71,000
Loss Contingency Accrual			$ 42,000