BioCardia, Inc. Fair Value Disclosure

(3)	Fair Value Measurements

 

The fair value of financial instruments reflects the amounts that we estimate to receive in connection with the sale of an asset or paid in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). We follow a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels:

 

Level 1 – quoted prices in active markets for identical assets and liabilities.

 

Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

 

The following table sets forth the fair value of the financial assets measured on a recurring basis and indicates the fair value hierarchy utilized to determine such fair value (in thousands).

 

		As of December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets:
Cash in savings account		$	—			$	—			$	—			$	2,258
Cash in checking account			—				—				—				238
Total cash and cash equivalent		$	—			$	—			$	—			$	2,496

 

		As of December 31, 2024
		Level 1				Level 2				Level 3				Total
Assets:
Money market funds		$	2			$	—			$	—			$	2
Cash in savings account			—				—				—				2,058
Cash in checking account			—				—				—				311
Total cash and cash equivalent		$	2			$	—			$	—			$	2,371