Why Is BioCardia Stock Plunging Today?
Portfolio Pulse from Vandana Singh
BioCardia Inc's stock is plunging after the company released interim efficacy results for its phase 3 pivotal CardiAMP cell therapy heart failure trial. The results showed that the 250-patient randomized controlled study is unlikely to meet its primary three-tiered Finkelstein-Schoenfeld (FS) efficacy endpoint. The company's shares are down 23% at $0.60 during the premarket session.
September 05, 2023 | 12:50 pm
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BioCardia's stock is down 23% following the release of interim results for its phase 3 CardiAMP cell therapy trial, which indicate the study is unlikely to meet its primary efficacy endpoint.
The stock price of BioCardia is plunging due to the negative interim results of its phase 3 CardiAMP cell therapy trial. The results indicate that the study is unlikely to meet its primary efficacy endpoint, which is a significant setback for the company and its investors. This negative news is directly impacting the company's stock price, causing it to drop significantly.
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