Navigation Links
Cardica Receives NASDAQ Notification of Non-Compliance
Date:9/4/2009

REDWOOD CITY, Calif., Sept. 4 /PRNewswire-FirstCall/ -- Cardica, Inc. (Nasdaq: CRDC) today announced that, on September 2, 2009, it received a notice from the Listing Qualifications Department of The NASDAQ Global Market (NASDAQ) stating that the Company's stock will be delisted from NASDAQ based upon NASDAQ staff's determination that Cardica has not regained compliance with the minimum $10 million stockholders' equity requirement for continued listing on the NASDAQ as stated under NASDAQ Marketplace Rule 5450(b)(1)(A). As a result, Cardica's securities will be delisted from NASDAQ unless, by September 9, 2009, Cardica requests a hearing before a NASDAQ Listing Qualifications Panel (Panel) to appeal the staff's determination. Cardica has requested a hearing before the Panel, and Cardica's securities will remain listed on NASDAQ pending a decision by the Panel following the hearing.

About Cardica

Cardica is a leading provider of automated anastomosis systems for coronary artery bypass graft (CABG) surgery. By replacing hand-sewn sutures with easy-to-use automated systems, Cardica's products provide cardiovascular surgeons with rapid, reliable and consistently reproducible anastomoses, or connections of blood vessels, often considered the most critical aspect of the CABG procedure. Cardica's C-Port(R) Distal Anastomosis Systems are marketed in the United States and Europe and its PAS-Port(R) Proximal Anastomosis System is marketed in the United States, Europe and Japan. In addition, the company has developed the Cardica Microcutter, a true multi-fire endoscopic stapling device designed to be used in a variety of settings including bariatric, thoracic and general surgery.

Forward-Looking Statements

This press release contains "forward-looking statements," including, without limitation, statements related to the continued listing of Cardica's common stock on The NASDAQ Global Market and potential outcomes following the appeal process. The word "will" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause Cardica's results to differ materially from those indicated by these forward-looking statements, including, without limitation, the risk that the Panel may not overturn the staff's determination that Cardica has failed to meet the minimum continued listing requirements and the risk that Cardica otherwise fails to comply with the continued listing requirements of The NASDAQ Global Market or any other NASDAQ market, as well as other risks detailed from time to time in Cardica's SEC reports, including its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2009. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov.


'/>"/>
SOURCE Cardica, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Cardicas C-Port(R) Flex A Anastomosis System Allows Surgeons to Perform Revolutionary Closed-Chest Heart Bypass Surgeries
2. Cardica Receives European CE Mark for C-Port Flex A System for Use in Coronary Artery Bypass Surgery
3. Cardica and Cook Sign Agreement to Expand Cook Vascular Closure Device Product Family
4. Cardica and Intuitive Surgical to Host Educational Symposium on Advanced Techniques and Technologies in Robotic Coronary Revascularization and Mitral Valve Repair
5. Cardica Announces Fiscal 2008 Second Quarter Financial Results and Business Progress
6. Cardica to Present at Jefferies 2nd Annual Healthcare Conference
7. Cardica Receives $1 Million Milestone Payment From Cook Medical for Development of Heart Defect Closure Device
8. Cardica Announces Fiscal 2009 First Quarter Financial Results
9. Cardica Announces Fiscal 2009 Second Quarter Financial Results
10. Reclast(R) Receives US FDA Approval as First and Only Once-Yearly Treatment for Women With Postmenopausal Osteoporosis
11. Ciphergen Biosystems Receives Noncompliance Letter From The Nasdaq Stock Market
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/15/2017)... ... August 15, 2017 , ... ... that accelerate pharmaceutical and biotherapeutics development, announces the launch of the new ... needed to gain kinetic binding data for a wide range of molecules, including ...
(Date:8/15/2017)... ... August 15, 2017 , ... Kenall, a ... downlights designed to stay tightly sealed and perform efficiently for years. The downlights ... location listings just aren't enough, such as: hospitals; behavioral health facilities; cleanrooms; containment ...
(Date:8/15/2017)... ... 15, 2017 , ... JULABO USA introduces its new website ... makes it easy to navigate through the site whether you’re in the office, ... information, educational industry content and visit the company’s social media accounts, all on ...
(Date:8/14/2017)... ... August 14, 2017 , ... The Conference Forum ... which will take place on September 6, 2017 at the Marriott Copley Place in ... of Experimental Medicine, Informatics, and Regulatory Strategy, Pfizer Innovative Research Lab, Pfizer, who leads ...
Breaking Biology Technology:
(Date:3/30/2017)...  On April 6-7, 2017, Sequencing.com will host the ... hackathon at Microsoft,s headquarters in Redmond, Washington ... developing health and wellness apps that provide a unique, ... is the first hackathon for personal genomics and ... in the genomics, tech and health industries are sending ...
(Date:3/29/2017)... CHICAGO , March 29, 2017  higi, the ... ecosystem in North America , today ... Partners and the acquisition of EveryMove. The new investment ... extensive set of tools to transform population health activities ... and lifestyle data. higi collects and secures ...
(Date:3/24/2017)... The Controller General of Immigration from Maldives Mr. Mohamed Anwar ... prestigious international IAIR Award for the most innovative high security ePassport and ... ... Maldives Immigration Controller General, Mr. Mohamed ... the right) have received the IAIR award for the "Most innovative high ...
Breaking Biology News(10 mins):