BioCardia Pauses Enrollment In Late-Stage Study For Heart Failure Study on Monitoring Board Recommendation, Stock Plunges
Portfolio Pulse from Vandana Singh
BioCardia Inc (NASDAQ:BCDA) has paused its Phase 3 pivotal CardiAMP Cell Therapy Heart Failure Trial on the recommendation of the independent Data Safety Monitoring Board (DSMB). The DSMB has completed a review of the data and recommended the trial be paused for a one-year follow-up outcomes analysis. The DSMB also noted that the trial was unlikely to meet its primary endpoint. Following the news, BCDA shares fell by 45.80%.
July 24, 2023 | 2:32 pm
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NEGATIVE IMPACT
BioCardia's decision to pause its Phase 3 trial following DSMB's recommendation and the subsequent drop in share price indicates a negative short-term impact on the company's stock.
The DSMB's recommendation to pause the trial and its statement that the trial is unlikely to meet its primary endpoint are significant negative developments for BioCardia. This has led to a sharp drop in the company's share price, indicating a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100