BioCardia Reports Positive Interim Results From Phase III CardiAMP Cell Therapy Heart Failure Trial

(RTTNews) - BioCardia, Inc. (BCDA) shares are falling more than 23 percent on Monday morning, despite positive interim reports for its Phase III randomized trial of CardiAMP autologous cell therapy in 110 randomized patients with advanced chronic heart failure.

The shares have reached a new peak yesterday and fell from there.

Currently, shares are at $0.4380, down 22.92 percent from the previous close of $0.57 on a volume of 2,470,727.

The biotechnology company announced positive interim results from the Phase III randomized controlled trial of its CardiAMP autologous cell therapy in 110 randomized patients with advanced chronic heart failure at a mean 20-month follow-up.

Results showed reductions in heart death equivalents and MACCE, with a magnified reduction among patients with elevated NTproBNP, a common marker of heart distress.

The company said the patients treated with CardiAMP cell therapy saw an almost 5% lower rate of heart death equivalents at up to two years compared to control patients.

In a subgroup analysis with elevated NTproBNP at baseline, patients treated with CardiAMP cell therapy experienced an 86.2% relative risk reduction in heart death equivalents and a 23.9% relative risk reduction in MACCE.