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Last $0.38 USD
Change Today -0.045 / -10.59%
Volume 533.8K
CRDC On Other Exchanges
As of 2:41 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

cardica inc (CRDC) Snapshot

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52 Week High
09/22/14 - $1.32
52 Week Low
04/27/15 - $0.36
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Current Stock Chart for CARDICA INC (CRDC)

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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: 02/10/15
Founded in 1997

cardica inc (CRDC) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: $455.8K
Vice President of Manufacturing & 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. to Reduce its Headcount by 15 People from 63 to 48 Across All Departments Except Research and Development; Announces Retirement of Frederick Bauer as Vice President of Manufacturing and Operations

On March 25, 2015, management of Cardica Inc. committed Cardica to a corporate restructuring and layoff in which Cardica will be reducing its headcount by 15 people from 63 to 48 across all departments except research and development. Most actions were taken March 25, 2015, and management anticipates that all layoffs will occur by March 31, 2015. Cardica expects that the charges to be incurred in connection with the corporate restructuring and layoff will be approximately $200,000, all of which will be cash expenditures and all of which will be severance and termination costs. On March 24, 2015, Frederick Bauer, Cardica Inc.'s Vice President of Manufacturing and Operations, informed Cardica that he would be retiring as an officer and employee of Cardica. Cardica expects that Mr. Bauer's last day of service to Cardica will be May 15, 2015.

Cardica Inc. - Special Call

To provide an update on the company's business

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.


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