BioCardia share pulls back after profiting from recent doubling with another sell-off

These charts show one possible silver lining of the pandemic

<p>Shares of BioCardia Inc. BCDA, -14.77% fell 13.9% on Wednesday morning, after developer of regenerative biological therapies announced more stock sales following the 137.6% rocket in the last two days. The company said ahead of Wednesday’s opening that it sold 2.04 million shares at $ 5.15 per share in a registered direct offer to raise $ 10.5 million. On Monday, the company said it had sold 1.79 million shares at $ 4.75 per share in a registered direct offer to raise $ 8.5 million. The surge in stocks over the past two days followed the company’s announcement ahead of Monday’s opening that it was anticipating comments from the Data Security Supervisory Board (DSMB) on the provisional data from a phase 3 heart failure trial CardiAMP. The company said it would provide details of the DSMB comments ahead of Thursday’s opening. The stock has climbed 149.9% in the past three months, while the iShares Nasdaq Biotechnology ETF IBB, -0.62% gained 12.3% and the S&P 500 SPX, + 0.00%, rose by 9.1%.