Note 14 - Contingencies

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Contingencies Disclosure [Text Block]

( 14 ) Contingencies and Uncertainties

Contingencies

- The Company

may

be subject to various claims, complaints, and legal actions that arise from time to time in the normal course of business. Management is

not

aware of any current legal or administrative proceedings that are likely to have an adverse effect on the Company’s business, financial position, results of operations, or cash flows.

Uncertainties

- Prior to

December 31, 2019,

a new strain of coronavirus originating in Wuhan, China (the “COVID-

19

outbreak”) affected the People’s Republic of China, and the unknown risks to the international community began to escalate as the virus spread globally beyond its point of origin. Disclosures concerning the COVID-

19

outbreak by the government of the People’s Republic of China were

not

extensive prior to

December 31, 2019.

In

March 2020,

the World Health Organization declared the outbreak of COVID-

19,

a novel strain of Coronavirus, a global pandemic. This outbreak is causing major disruptions to businesses and financial markets worldwide as the virus spreads. If the outbreak continues to spread, it

may

affect the Company’s operations and those of

third

parties on which the Company relies, including causing disruptions in the supply of the Company’s product candidates and the conduct of current and planned preclinical and clinical studies. BioCardia

may

need to limit operations and

may

experience limitations in employee resources. There are risks that the COVID-

19

outbreak

may

be more difficult to contain if the outbreak reaches a larger population or broader geography, in which case the risks described herein could be elevated significantly. The extent to which the coronavirus impacts the Company’s results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which

may

emerge concerning the severity of the coronavirus and the actions to contain the coronavirus or treat its impact, among others.

Additionally, while the potential economic impact brought by, and the duration of, a coronavirus pandemic is difficult to assess or predict, the impact of the coronavirus on the global financial markets

may

reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity, and the Company’s ability to complete its preclinical and clinical studies on a timely basis, or at all. The ultimate impact of coronavirus is highly uncertain and subject to change. The Company does

not

yet know the full extent of potential delays or impacts on its business, financing, preclinical and clinical trial activities or the global economy as a whole. However, these effects could have a material, adverse impact on the Company’s liquidity, capital resources, operations and business and those of the

third

parties on which BioCardia relies.