Last $0.59 USD
Change Today -0.015 / -2.50%
Volume 6.3K
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As of 9:59 AM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

cardica inc (CRDC) Snapshot

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52 Week High
02/24/14 - $1.40
52 Week Low
01/21/15 - $0.52
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cardica inc (CRDC) Details

Cardica, Inc. designs, manufactures, and markets automated anastomotic systems for use by cardiac surgeons to perform coronary bypass surgery in the United States and internationally. It provides C-Port Distal Anastomosis systems, including C-Port xA Anastomosis systems to perform an end-to-side distal anastomosis by attaching the end of a bypass graft to a coronary artery downstream of an occlusion or narrowing; C-Port Flex A Anastomosis systems to enable automated anastomoses to be performed as part of coronary artery bypass grafting procedures; and PAS-Port Proximal Anastomosis systems to perform an end-to-side proximal anastomosis between a saphenous vein and the aorta. It also offers endoscopic microcutter products comprising MicroCutter XCHANGE 30, MicroCutter FLEXCHANGE 30, and MicroCutter XCHANGE 45 cartridge based microcutter devices to facilitate endoscopic procedures requiring cutting and stapling; and MicroCutter XPRESS 30 and MicroCutter XPRESS 45 multi-fire endolinear microcutter devices for the bariatric and thoracic surgery markets. In addition, the company licenses its intellectual property in the robotics field in diagnostic or therapeutic medical procedures. The company markets its Port Distal Anastomosis systems through its direct sales force, as well as through independent manufacturers’ representatives and distributors. The company was formerly known as Vascular Innovations, Inc. and changed its name to Cardica, Inc. in November 2001. Cardica, Inc. was founded in 1997 and is headquartered in Redwood City, California.

75 Employees
Last Reported Date: 11/12/14
Founded in 1997

cardica inc (CRDC) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: $455.8K
Vice President of Operations
Total Annual Compensation: $254.3K
Vice President of Sales and Marketing
Total Annual Compensation: $114.6K
Compensation as of Fiscal Year 2014.

cardica inc (CRDC) Key Developments

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.

Cardica Inc. Announces Board Changes

Cardica Inc. announced that three members of the board of directors Kevin Larkin, Chairman of the Board; Richard Powers; and Jeffrey Purvin have agreed to transition off the board by not standing for reelection at the upcoming 2014 annual meeting, thereby ensuring that Broadfin's three director nominees will be elected to the board; With Mr. Larkin's transition off the board, The company's board has appointed Gary Petersmeyer, a newly appointed independent member of the board, as its chairman, effective immediately.


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