BUZZ-BioCardia drops as co raises equity after Thursday's surge

** BioCardia Inc's BCDA.O shares down 11.7% at $3.55 on Fri after co capitalizes on big pop in its stock to raise equity

** Cell therapy provider's shares on Thurs closed up ~83% at $4.02, a day after US FDA cleared its heart device, called Morph DNA Steerable Introducer

** Co early Fri announced pricing public offering of 2.4 mln shares and warrants to buy up to 2.4 mln shares at $3 for $7.2 mln gross proceeds

** Management and directors, institutional investors, certain existing investors participated in offering, co said

** 5-yr warrants have exercise price of $3, and exercisable immediately

** Co, which has ~2.1 mln shares outstanding, plans to use proceeds for working capital, general purposes

** With move on the session, stock down 64% in 2024 and well off 1-yr closing high of $16.05 hit in Nov

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))