Latest news with #BCDA
GMA Network
12 hours ago
- Business
- GMA Network
SCTEX Interchange eyed in Hermosa, Bataan — BCDA
The government is looking to collaborate with the NLEX Corp. to put up a road interchange linking Hermosa, Bataan to the Subic-Clark-Tarlac Expressway (SCTEX), the Bases Conversion and Development Authority (BCDA) said Monday. According to the BCDA, the interchange will be a joint collaboration with the Department of Public Works and Highways (DPWH), NLEX Corp., and the local government of Hermosa, as part of the long-term development strategy to boost regional connectivity along the SCTEX. 'More than just an infrastructure, this interchange will unlock a new gateway to economic opportunities for Central Luzon — providing much-needed support for the region's growing logistics and manufacturing sectors, and generating more jobs for Filipinos,' BCDA president and chief executive officer Joshua Bingcang said in an emailed statement. 'In support of the Luzon Economic Corridor initiative, the enhancement of SCTEX will drive industrial growth and strengthen the region's role as a key engine of national progress,' he added. The SCTEX — a 94.62-kilometer expressway connecting Tipo, Subic and La Paz, Tarlac — involves a 35-year concession agreement between the BCDA and the Pangilinan-led NLEX Corp. Under the current agreement, each party receives 50% of the revenues. Aside from the SCTEX, NLEX Corp. also operates the North Luzon Expressway (NLEX), the Manila-Cavite Toll Expressway (CAVITEX), the Cavite-Laguna Expressway (CALAX), and the Cebu-Cordova Link Expressway (CCLEX), and the NLEX Connector. — RSJ, GMA Integrated News
Yahoo
15-05-2025
- Business
- Yahoo
BioCardia Inc (BCDA) Q1 2025 Earnings Call Highlights: Progress in Cardiac Cell Therapy Amid ...
Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. BioCardia Inc (NASDAQ:BCDA) reported positive safety and meaningful benefits from their cardiac cell therapy for heart failure patients, addressing a significant unmet clinical need. The company is actively engaging with the FDA and Japan's PMDA to align on pathways for making their therapy available, indicating progress towards regulatory approval. BioCardia Inc (NASDAQ:BCDA) is enrolling patients in the Cardiac Heart Failure 2 trial, which aims to confirm previous results and enhance enrollment. The Helix biotherapeutic delivery system is being prepared for submission for approval, potentially becoming the first approved transendocardial biotherapeutic delivery system in the U.S. BioCardia Inc (NASDAQ:BCDA) has a strong focus on partnerships, which could create meaningful value for shareholders across their four platforms: CardiAM, Cardiello, Helix, and Morph DNA. Total expenses increased by $396,000 quarter over quarter, driven primarily by research and development costs. The company reported a net loss of $2.7 million in Q1 2025, up from $2.3 million in Q1 2024. Cash and cash equivalents were low at $949,000 at the end of the quarter, necessitating a small financing to support ongoing operations. The Cardiac Heart Failure trial did not hit its primary endpoint, introducing significant risks to the approval pathway. BioCardia Inc (NASDAQ:BCDA) faces challenges in the lengthy and uncertain process of deal discussions and partnerships, which can take a long time to finalize. Warning! GuruFocus has detected 7 Warning Signs with BCDA. Q: Can you discuss the levels of maturity in your business development deals and any ongoing discussions? A: Peter Altman, CEO: We have several active discussions with large-cap strategics, particularly around our Morph Axis pro product family, which is already approved and in use. The cardiac electrophysiology market is growing rapidly, and our technology can help access this market. On the Helix side, we are in talks with potential partners for biotherapeutic delivery. Our Cardialo cell therapy has demonstrated safety, and we are open to partnerships for other clinical indications. For Cardiam, we are focused on the approval process in Japan and have ongoing discussions with potential distributors. Q: How does the potential approval process in Japan compare to the FDA's BLA acceptance, and what is its significance? A: Peter Altman, CEO: The process in Japan is similar to the FDA's BLA acceptance. Japan's PMDA is rigorous, and we expect clarity on approval submission within six months. Approval would provide clarity for distribution partners and help us prepare for commercial launch. Our extensive clinical data and minimally invasive delivery method position us favorably compared to peers in Japan. Q: Can you explain the strategy behind running the confirmatory trial while also submitting to the FDA for approval? A: Peter Altman, CEO: We believe in our therapy and are continuously developing evidence. Although our previous trial did not hit its primary endpoint, we are advancing with a second trial, which is reimbursed by Medicare, reducing costs. The new trial focuses on the greatest responders and includes improvements like using our new Morph DNA platform and a revised endpoint to enhance trial power. Q: Does the recent "most favored nation" pricing policy or tariffs impact your business? A: Peter Altman, CEO: Currently, the "most favored nation" policy does not impact us as we are not selling Cardiam outside the U.S. We aim to benchmark international pricing based on U.S. reimbursement. Tariffs are complex, but most of our manufacturing is U.S.-based, minimizing impact. We price based on value, and our margins remain strong even at competitive pricing. Q: What are the financial highlights for the first quarter of 2025? A: David McClung, CFO: Total expenses increased to $2.7 million, driven by R&D expenses related to cardiac heart failure trials. SG&A expenses were stable at $1.2 million. Net loss was $2.7 million, with cash and equivalents at $949,000 before additional financing. We continue to manage capital carefully. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
14-05-2025
- General
- Yahoo
Bedford County Development Association in early stages of finding outdoor recreation coordinator
BEDFORD, Pa. (WTAJ) — The Bedford County Development Association has begun the early phases of finding a new outdoor recreation coordinator. The process began at Tuesday's Bedford County Commissioners' meeting. The board approved the closure of the county's feasibility study about having outdoor recreation as its main attraction to bring visitors to the area. The role of coordinator would be responsible for planning, managing, promoting on social media and enhancing trails and other areas of outdoor recreation throughout the county. The process starts with first applying for a Circuit Rider Grant to make sure that the costs of creating the position are offset. 'We're going to look at the county as a whole, not just different sections of the county as a whole,' BCDA Vice President Jen Marsh said. 'And then also how we can connect to and partner with, our neighbors across the state line in Maryland and then also in Blair, Cambria, Fulton and Huntingdon counties.' Marsh tells WTAJ that the position is planned to be filled by the end of 2025 or early 2026. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-05-2025
- Business
- Yahoo
Shapiro touts PA SITES grant for Bedford
BEDFORD – Gov. Josh Shapiro stood in a windswept field of dirt, brush and grass Tuesday and envisioned how the location in Bedford Township is expected to someday soon be home to a new shovel-ready industrial park. He came to the spot, located along Country Ridge Road, to announce the first round of funding for the new Pennsylvania Strategic Investments to Enhance Sites program. The state is allocating $64 million in grants for 11 combined projects, including $2.8 million for Bedford County Development Association to transform 151 acres of unused land into Bedford County Business Park III. The plan is to grade parcels, extend water and sewage lines, and build roads to make the property ready for use by businesses. There will be nine lots ranging from one acre to 20.9 acres. 'Here in Bedford County we are literally turning dirt into jobs,' said Shapiro, a Democrat. 'This is real freedom. 'This is real opportunity. And it is really happening in Bedford County thanks to the great leaders up here and the commitment from the commonwealth of Pennsylvania.' Shapiro continued: 'We see this dirt, and we see opportunity. A business might see this dirt and kinda worry that there's too much risk for them. We want to de-risk that and give them a chance to succeed.' BCDA President and CEO Bette Slayton said opportunities have been missed because the county's other industrial parks are almost entirely sold out. 'Now, now, thanks to this investment, we're back in the game,' Slayton said. No businesses have been lined up yet, but 'I'm sure that once we're able to announce that it's coming, we will have a lot of interest,' according to Slayton. A timeline for the project is not set, but the next steps will be to do engineering work and bid out the construction contracts. Once completed, the park is expected to be home to multiple businesses that will employ people from Bedford and neighboring counties, while increasing the tax base. Slayton described getting the grant to develop the project as 'a game-changer for Bedford County.' 'It gives us the ability to develop and to proactively market new shovel-ready sites and that's something that's absolutely critical in recruiting and attracting new employers,' Slayton said. 'You need to have the sites.' Bedford County Commissioner Chairman Mike Stiles, a Republican, said moving the PA SITES-funded initiative forward is a 'shot in the arm for BCDA and Bedford County.' Projects in Berks, Bucks, Cumberland, Dauphin, Fayette, Franklin, Luzerne, Philadelphia, Washington and Westmoreland counties are also being funded in the first round from among 66 applications that were submitted. 'Importantly – and this is different from how it's been done in the past – we focus our investment in every corner of this commonwealth – rural, urban and suburban,' Shapiro said. 'I see promise in fields like this, just as I see promise in our high rises in downtown Philadelphia and in our suburban office parks that dot our communities across Pennsylvania. 'We've got to stop picking and choosing between one or the other and start investing in all of them. And that's exactly what we're doing with our plan.' Pennsylvania Department of Community and Economic Development Secretary Rick Siger spoke about the importance of such sites by saying 'literally strategy one in our economic development strategy is that we've got to have the product to compete.' 'We've got to have pad-ready industrial sites,' Siger said. 'Without that inventory across Pennsylvania, businesses just don't have options to locate here, and they'll go somewhere else. And that's just not an acceptable outcome for me and it's not an acceptable outcome for the governor, and it's not acceptable for our people. We've got to be able to compete for expansions of existing businesses and new businesses coming to Pennsylvania.' DCED plans to accept applications and award grants on a rolling basis. PA SITES was funded with $400 million in the 2024-25 state budget. Dave Sutor is a reporter for The Tribune-Democrat. He can be reached at 814-532-5056. Follow him on Twitter @Dave_Sutor.
Yahoo
07-05-2025
- Business
- Yahoo
Bedford County Development Association awarded nearly $3M for business park
BEDFORD, Pa. (WTAJ) — The Bedford County Development Association (BCDA) is receiving a $2.8 million grant to develop Areas 1 and 2 of a 151-acre site for the third business park in the county. The announcement was made on Tuesday afternoon by Governor Josh Shapiro and Department of Community and Economic Development Secretary Rick Siger. The $2.8 million grant is the first of 11 projects through the first round of the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) program. Shapiro said the program is meant to build shovel-ready industrial sites across the Commonwealth to attract businesses, investment, and good-paying jobs to Pennsylvania. Johnstown officials plan to update Central Park, but residents oppose 'It had been about 20 years since Pennsylvania had an economic development strategy. We have one now,' Shapiro said. Bette Slayton, the President and CEO of the BCDA, said the grant comes at a perfect time. 'We've missed too many opportunities because we simply didn't have the sites that could accommodate the needs of the prospects who were calling us. But now, thanks to this investment, we're back in the game,' Slayton said. The funds will be used to make site improvements, including extending water and sewer lines and grading parcels. It will be constructed across from the REI Distribution Center on Country Ridge Road. 'Bedford County, as you can see, is real estate ready. We have the location for this program and to put the plan into action. Governor Shapiro's PA SITES initiative is just what's needed to move the ball forward,' Mike Stiles, Commissioner & Chair of Bedford County, said. It's an effort the Governor said he intends to use until Pennsylvania comes first in every category. 'Today is a great day to celebrate. Today is a day to turn this dirt into jobs and to see a great future of possibility and opportunity here in Bedford County,' Shapiro said. Get the latest news, weather forecasts and sports stories delivered straight to your inbox! Sign up for our newsletters. Before they can start building the 3rd Business Park, engineers will examine the land and start the excavation process and infrastructure improvements. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to WTAJ -
