BioCardia Inc. reported a net loss of $1.5 million for the third quarter of 2025, a decrease from $1.7 million in the same period of 2024, primarily due to lower compensation expenses. For the nine months ended September 2025, the net loss increased to $6.2 million from $5.7 million in the prior year, reflecting higher expenses related to the closeout of the CardiAMP HF Trial and the start of enrollment in the CardiAMP HF II Trial. Research and development expenses were $936,000 for the quarter and $3.8 million for the nine-month period, both higher than the previous year. Net cash used in operations for the quarter was $1.7 million, down from $2.6 million in 2024, and $4.9 million for the nine months, compared to $5.5 million last year. In September, BioCardia completed a $6.0 million financing, with net proceeds of $5.2 million. Key business developments included ongoing approvability discussions for CardiAMP cell therapy, a submission for approval of the Helix Transendocardial Delivery Catheter via DeNovo 510(k), and active enrollment in the CardiAMP HF II phase 3 confirmatory trial.