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Cardica Announces Fiscal 2012 Fourth Quarter And Year End Financial Results
Date:8/2/2012

REDWOOD CITY, Calif., Aug. 2, 2012 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced financial results for its fiscal fourth quarter and year ended June 30, 2012. Cardica's management will hold a conference call at 4:30 p.m. Eastern Daylight Time to discuss the financial results and provide an update on the company's business.

"We continue to gain experience and feedback for our MicroCutter XCHANGE™ 30, as more than 30 surgeons at six hospitals across Germany have used the device to successfully complete a wide variety of surgical procedures," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica. "Having incorporated feedback and suggestions from surgeons into the design and functionality of this product, which is substantially smaller than conventional stapling devices, we have resumed the European clinical study and plan to begin booking commercial sales in the second half of calendar 2012."

Recent Highlights and Accomplishments

  • Completed over 250 deployments in more than 80 procedures with the XCHANGE 30 device prior to resuming the clinical trial in Europe including procedures such as appendectomies, vascular transections, intestinal and lung resections;
  • Resumed the European clinical trial for the MicroCutter cutting/stapling device and to date have enrolled 10 patients at four centers throughout Germany;
  • Increased cumulative worldwide shipments of PAS-Port® Proximal Anastomosis Systems to over 28,500 units, with 1,212 units shipped in the fiscal 2012 fourth quarter; and,
  • Increased cumulative worldwide shipments of C-Port® Distal Anastomosis Systems to over 13,100, with 182 units shipped in the fiscal 2012 fourth quarter.

    • Fiscal 2012 Fourth Quarter and Year Ended June 30, 2012 Financial Results
    Total product sales were approximate
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    SOURCE Cardica, Inc.
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