Why BioCardia (BCDA) Stock Is Falling Today

BioCardia Inc BCDA shares are trading lower by 12% to $3.53 during Friday’s session after the company announced the pricing of an upsized public offering, involving 2.4 million shares of common stock (or pre-funded warrants) and accompanying warrants to purchase an additional 2.4 million shares.

What Else: Each share and warrant is priced at $3.00, with expected gross proceeds of $7.2 million. The warrants will be exercisable immediately at the same price and will expire in five years.

The offering is expected to close on September 3, 2024, pending standard conditions. Proceeds will be used for working capital, corporate purposes, and advancing biotherapeutic initiatives.

Read Also: Why BioCardia Stock Gained 95% Thursday

How To Buy BCDA Stock

By now you're likely curious about how to participate in the market for BioCardia – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of BioCardia, which is trading at $3.6 as of publishing time, $100 would buy you 27.78 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, BCDA has a 52-week high of $23.25 and a 52-week low of $1.96.