REDWOOD CITY, Calif., Nov. 11, 2010 /PRNewswire-FirstCall/ —
Cardica, Inc. (Nasdaq:
CRDC) today announced financial results for its fiscal first
quarter ended September 30, 2010. Cardica’s management will host a
conference call at 4:30 p.m. Eastern Time today to discuss the
financial results and provide an update on the company’s
business.

“In the third quarter, we recorded $9 million in license revenue
from our license agreement with Intuitive Surgical. In addition,
the Microcutter ES8 performed well in animal testing, and we remain
on track with our plans to selectively launch this device late in
the first half of 2011, subject to FDA clearance under a 510(k)
process,” said Bernard A. Hausen, M.D., Ph.D., president and chief
executive officer of Cardica.  

“We continue to report consistent sales of our cardiac products
of approximately $1 million per quarter driven by leading
cardiothoracic surgeons around the country who continue to use our
automated anastomosis systems to innovate minimally-invasive bypass
procedures,” continued Dr. Hausen.

Recent Highlights and Accomplishments

Increased cumulative worldwide shipments of PAS-Port® Proximal
Anastomosis Systems to over 20,500 units, with 1,134 units shipped
in the fiscal 2011 first quarter; Increased cumulative worldwide
shipments of C-Port® Distal Anastomosis Systems to over 11,000
units, with 416 units shipped in the fiscal 2011 first quarter;
Announced the publication of a five-year study demonstrating the
safety and efficacy of Cardica’s PAS-Port system in the
peer-reviewed journal Annals of Thoracic Surgery; Reported
that the C-Port and PAS-Port systems were featured at the Advances
in Robotic and Hybrid Coronary Revascularization Meeting in
Atlanta, GA; Reported that Dr. Mahesh Ramchandani of Methodist
DeBakey Heart Center in Texas i

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