Biocardia shares are trading lower after the Independent Data Safety Monitoring Board recommended the company to pause enrollment in ongoing Phase 3 CardiAMPCell Therapy Heart Failure Trial.
Portfolio Pulse from Benzinga Newsdesk
Biocardia's shares are trading lower after the Independent Data Safety Monitoring Board recommended the company to pause enrollment in its ongoing Phase 3 CardiAMP Cell Therapy Heart Failure Trial.
July 24, 2023 | 12:49 pm
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Biocardia's stock price is expected to decrease in the short term due to the recommendation to pause enrollment in its ongoing Phase 3 trial.
The recommendation to pause enrollment in the Phase 3 trial is a significant setback for Biocardia. This could delay the potential approval and commercialization of the therapy, which would impact the company's future revenues and profitability. As a result, investors may sell their shares, leading to a decrease in the stock price.
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