Failure to Satisfy Listing Rule (Form 8-K)

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On April 1, 2025, BioCardia, Inc. (the "Company") received written notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based on the Company's stockholders' equity of $837,000 as of December 31, 2024, it is no longer in compliance with the minimum stockholders' equity requirement of $2.5 million for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1).

The Company has until May 16, 2025 to provide Nasdaq with a plan to regain compliance with the foregoing listing requirement. If the Company's plan to regain compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from April 1, 2025 for the Company to evidence compliance.

The Notice has no immediate effect on the listing or trading of the Company's common stock and the common stock will continue to trade on the Nasdaq Capital Market under the symbol "BCDA."

The Company intends to submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rules. In determining whether to accept the plan, Nasdaq will consider such things as the likelihood that the plan will result in compliance with Nasdaq's continued listing criteria, the Company's past compliance history, the reasons for the Company's current non-compliance, other corporate events that may occur within Nasdaq's review period, the Company's overall financial condition and its public disclosures. If Nasdaq does not accept the Company's plan, the Company may request a hearing, at which hearing it would present its plan to a Nasdaq Hearings Panel.