Shares of BioCardia soared 105% in premarket trading Thursday following news the Food and Drug Administration has cleared to market the company's Morph DNA Steerable Introducer product family.

The company said Wednesday the product family is intended to provide a pathway through which medical instruments can be introduced into the human heart.

After the bell, the company's shares were trading at $4.79. The stock closed the day's regular session at $2.20, dropping 10% during the day.

BioCardia said the potential vascular market for this product family is measured in millions of procedures per year. The DNA reflects the design of the product, which appears as a double helix like that in a strand of DNA, according to BioCardia.