BioCardia shares split in half by trial pause
Shares in BioCardia (Nasdaq: BCDA), a developer of cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary disease, closed nearly 50% lower on Monday.
The Californian company earlier announced that the independent Data Safety Monitoring Board (DSMB) has completed its prespecified data review for the ongoing Phase III pivotal CardiAMP Cell Therapy Heart Failure trial.
"There appear to be no treatment-emergent safety issues and that the health outcomes measured in the trial show improvement for patients as a group"Following the DSMB recommendation, BioCardia is pausing the trial pending the one-year follow-up outcomes analysis for patients that have been treated and those that have been enrolled but not yet treated.
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