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Cardica Announces Fiscal 2013 Third Quarter Financial Results
Date:4/30/2013

REDWOOD CITY, Calif., April 30, 2013 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced financial results for its fiscal third quarter and nine months ended March 31, 2013. Cardica's management will hold a conference call at 4:30 p.m. Eastern Time to discuss the financial results and provide an update on the company's business.

"We expect to complete enrollment in our European clinical trial of the MicroCutter XCHANGE™ 30 device in the weeks ahead, with a U.S. 510(k) submission anticipated in the third quarter of calendar 2013," said Bernard A. Hausen , M.D., Ph.D., president and chief executive officer of Cardica. "While making preparations in anticipation of a U.S. launch, pending regulatory clearance, we expect to bring more distributors online in Europe to encourage uptake, expand our experience and extend the reach of this exciting new product."

Recent Highlights and Accomplishments

  • Enrolled additional patients in the European clinical trial for the XCHANGE 30, bringing the total number of patients enrolled to 152;
  • Added a second European distributor, Duo-Med, to expand MicroCutter product sales into Belgium, the Netherlands and Luxembourg;
  • Reached 1,000 deployments in more than 350 procedures with the XCHANGE 30 device since May 2012, including procedures such as appendectomies, vascular transections, intestinal and lung resections;
  • Shipped 104 MicroCutter XCHANGE™ 30 devices and 348 XCHANGE™ 30 cartridges;
  • Increased cumulative worldwide shipments of PAS-Port® Proximal Anastomosis Systems to over 31,500 units, with 979 units shipped in the fiscal 2013 third quarter;
  • Increased cumulative worldwide shipment
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  • SOURCE Cardica, Inc.
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