Last $0.63 USD
Change Today -0.0057 / -0.90%
Volume 168.5K
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As of 8:10 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

cardica inc (CRDC) Key Developments

Cardica Inc. Announces Unaudited Earnings Results for Second Quarter and Six Months Ended December 31, 2014

Cardica Inc. announced unaudited earnings results for second quarter and six months ended December 31, 2014. For the quarter, the company reported total revenue of $657,000, loss from operations of $5,340,000, net loss of $5,442,000 or $0.06 per basic and diluted share compared to the total revenue of $851,000, loss from operations of $4,078,000, net loss of $4,172,000 or $0.08 per basic and diluted share for the same quarter a year ago. For the six months period, the company reported total revenue of $1,725,000, loss from operations of $10,299,000, net loss of $10,507,000 or $0.12 per basic and diluted share compared to the total revenue of $1,656,000, loss from operations of $7,699,000, net loss of $7,911,000 or $0.15 per basic and diluted share for the same period a year ago.

Cardica Inc. to Report Q2, 2015 Results on Feb 05, 2015

Cardica Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Feb 05, 2015

Cardica Inc., Q2 2015 Earnings Call, Feb 05, 2015

Cardica Inc., Q2 2015 Earnings Call, Feb 05, 2015

Cardica, Inc. Terminates Bryan Knodel as Vice President of Research and Development

On January 7, 2015, the employment of Bryan Knodel, Cardica Inc.’s Vice President of Research and Development, was terminated.

Cardica, Inc. Receives Non-Compliance Notice From NASDAQ

On December 9, 2014, Cardica, Inc. received a letter from the listing qualifications department staff of the NASDAQ Stock Market (NASDAQ) notifying the company that for the last 30 consecutive business days the bid price of the company’s common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of NASDAQ listing rule 5450(a)(1). In accordance with listing rule 5810(c)(3)(A), the company has 180 calendar days, or until June 8, 2015, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require in some circumstances, but generally not more than 20 consecutive business days) before June 8, 2015. If the company’s common stock does not achieve compliance by June 8, 2015, the company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and provides written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to the NASDAQ staff that the company will not be able to cure the deficiency, or if the company does not meet the other listing standards, NASDAQ could provide notice that the company’s common stock will become subject to delisting. In the event the company receives notice that its common stock is being delisted, NASDAQ rules permit the company to appeal any delisting determination by the NASDAQ staff to a Hearings Panel. The company currently meets the continued listing requirement for market value of publicly held shares and all other initial listing standards of the NASDAQ Stock Market, with the exception of the bid price requirement. The company intends to actively monitor the closing bid price of its common stock between now and June 8, 2015 and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.

 

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