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BCDABioCardia, Inc.

Is BioCardia struggling financially?

Yes, by its own account. BioCardia told the SEC on 15 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

30/100

Fragile

Sector
Biotech/Pharma
Market cap
$15.3M
Source filing
10-Q 15 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 5months

    If the burn speeds up

    Empty by Nov 2026

  • 8months

    If it eases off

    Empty by Mar 2027

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$4.1M

÷

Cash burned over the last 12 months

$7.4M

What BioCardia told the SEC

…of $ 951,000 as of March 31, 2026 are not sufficient to fund our planned expenditures and meet our obligations beyond June 2026. 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…

BioCardia, Inc., Form 10-Q, filed 15 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 136.3% share-count increase The company issued stock. Each share now owns 57.7% less of the business than a year ago, before any change in the price.
  • Cash burn is narrowing It is spending 42% less cash per year than it was, so the runway above is lengthening rather than shortening.

Other Biotech/Pharma companies that filed the doubt