- The stock price of BioCardia Inc (NASDAQ: BCDA) increased by over 4% today. This is why it happened.
The stock price of BioCardia Inc (NASDAQ: BCDA) – a company focused on developing cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases – increased by over 4% today. Investors are responding positively to BioCardia announcing the issuance of U.S. Patent No: 11,141,568 for “Multi Directional Steerable Catheter” that further protects the Helix Biotherapeutic Delivery System and enhances its biotherapeutic delivery capabilities.
This patent covers a multidirectional steerable catheter with uniform bending rigidity and is expected to significantly enhance physician control by preventing “whip,” the tendency of steerable catheters to build up torque and jump to another location. And the patented technology is incorporated in the company’s recently FDA-cleared Morph DNA guide used in biotherapeutic delivery procedures and AVANCE steerable introducer used in transseptal access procedures. The advances are also expected to strengthen the company’s clinical-stage biotherapeutic programs in heart failure and chronic myocardial ischemia.
BioCardia estimates the cardiac cell therapy market for its current investigational programs at approximately 1.6 million patients in the United States – each treatment of which has the potential to utilize the approved Morph DNA guide product. The transseptal access market which the Company’s approved AVANCE product addresses is estimated at $490 million and is expected to increase at a compound annual growth rate (CAGR) of 10.4 percent from 2017 to 20242 with an acquisition this month of a market leader for $1.75 billion.
“We continue to believe that delivery is critically important for successful biotherapeutic treatment. By enabling best-in-class full solutions for the physician in treating patients, we maximize the probability of our therapeutics improving the lives of millions with heart disease. We expect this well patented technology to enhance physician control for our biotherapeutic programs, partnered biotherapeutic programs, transseptal cardiac interventions, and other interventional therapies throughout the body.”
— BioCardia CEO Peter Altman, Ph.D.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.