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Cardica Announces Fiscal 2013 First Quarter Financial Results
Date:11/5/2012

REDWOOD CITY, Calif., Nov. 5, 2012 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced financial results for its fiscal first quarter ended September 30, 2012. Cardica's management will hold a conference call at 4:30 p.m. Eastern Standard Time to discuss the financial results and provide an update on the company's business.

"We have trained new key distributors in Europe covering seven countries, one of the final steps in our efforts to commercialize our MicroCutter XCHANGE™ 30 in these markets," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica. "As we look toward shipping commercial units in the selected European countries, we will begin to book sales in the current quarter with our primary commercial efforts focused on ensuring that all surgeons using the device have positive experiences and continue to use the XCHANGE 30 routinely in their clinical practice beyond the initial training procedures."

"The European clinical trial continues to add patients, with a targeted enrollment completion date in the first quarter of calendar 2013. Beyond commercial sales and the trial, we remain committed to training key opinion leaders in select European hospitals to build awareness and demand for our MicroCutter device over the longer-term."

Recent Highlights and Accomplishments

  • Trained sales representatives from medical device distributors on the features and benefits of the XCHANGE 30. These distributors will be responsible for Italy, Benelux, Germany, Austria, Switzerland and the United Kingdom;
  • Completed over 500 deployments in more than 185 procedures with the XCHANGE 30 device since April 2012, including procedures such as appendectomies, vascular transections, intestinal and lung resections;
  • Enrollment in the European clinical trial for the MicroCutter cutting/stapling device
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  • SOURCE Cardica, Inc.
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