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Cardica Announces Fiscal 2010 Second Quarter Financial Results
Date:1/28/2010

REDWOOD CITY, Calif., Jan. 28 /PRNewswire-FirstCall/ -- Cardica, Inc. (Nasdaq: CRDC) today announced financial results for its fiscal second quarter and six months ended December 31, 2009. Cardica's management will host a conference call at 4:30 p.m. Eastern Time to discuss the financial results and provide an update on the company's business.

"This quarter, as we continued to transition the sales model for our cardiac anastomosis products from a direct sales force to a team driven largely by independent distributors and manufacturers' representatives, we saw sequential growth in sales of our automated anastomosis products, which is a trend that we expect to continue moving forward," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica.

"We are advancing development of our Cardica Microcutter ES8, the first potential product in our anticipated line of endolinear stapler/cutters, and we expect to initiate testing in animals during our fiscal third quarter.  Subject to FDA clearance under a 510(k) process, we anticipate launching this product in the United States in early calendar 2011. We believe the opportunity to apply our proprietary technology and development capabilities to this $2 billion market could provide the company with exceptional growth opportunities in the years ahead," continued Dr. Hausen.

Recent Highlights and Accomplishments

  • Increased cumulative worldwide shipments of PAS-Port® Proximal Anastomosis Systems to over 17,000 units, with 1,120 units shipped in the fiscal
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SOURCE Cardica, Inc.
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