Business Context and Reporting Period
Company: BioCardia, Inc. (BCDA)
Filing Type: Form 8-K (Current Report)
Date of Report: August 19, 2026
Reporting Period: Event date August 19, 2026; Compliance deadline February 16, 2027.
Context: The Company received a notice from Nasdaq regarding failure to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for these metrics.
Material Changes
- Listing Status: The Company's common stock trading price has been below the $1.00 per share minimum requirement for the last 30 consecutive business days.
- Regulatory Action: Nasdaq issued a notice of non-compliance under Listing Rule 5550(a)(2).
- Trading Impact: The notice has no immediate effect on the listing or trading of the Company's common stock.
Guidance, Outlook, and Risks
Compliance Timeline
- Initial Period: 180 calendar days (until February 16, 2027) to regain compliance.
- Compliance Criteria: Closing bid price of $1.00 or more for 10 consecutive business days.
- Extension Path: If the initial period expires without compliance, the Company may qualify for an additional 180-day period if it meets market value of publicly held shares and other initial listing standards (excluding bid price), potentially via a reverse stock split.
- Delisting Risk: Failure to regain compliance during the second period (if granted) or failure to qualify for an extension may result in delisting.
- Appeal Rights: The Company would be entitled to appeal a delisting determination to a Nasdaq hearings panel.
- Uncertainty: There is no assurance the Company will regain compliance, secure an extension, or maintain other listing requirements.
- Verify the current closing bid price of BCDA stock relative to the $1.00 threshold.
- Monitor the Company's stock price for 10 consecutive days of $1.00+ to confirm compliance.
- Review the Company's market value of publicly held shares to assess eligibility for a second compliance period.
- Watch for announcements regarding a potential reverse stock split.
- Check for any subsequent 8-K filings regarding the outcome of the compliance period or appeal processes.
Management Commentary
Management intends to actively monitor the closing bid price and may consider available options, including a reverse stock split, to regain compliance.