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Cardica's CEO Discusses F4Q12 Results - Earnings Call Transcript

We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement. You are encouraged to read our reports filed with the SEC, available at www.sec.gov. This all is a property of Cardica and any rebroadcasting of this call without the express written permission of Cardica is prohibited.

At this time I would like to turn the call to Bernard Hausen, Cardica’s President and CEO for corporate update.

Bernard Hausen

Thank you, Bob. Good afternoon, everyone. Thank you for joining us on our call today. Over the course of the last several months we have made tremendous progress on the path towards commercialization of our Cardica MicroCutter XCHANGE 30, a cartridge-based device with a 5-millimeter shaft diameter and articulation of up to 80 degrees. We announced last week that we have resumed the European clinical study of the MicroCutter and it is going very well. Prior to the resumption of the trial, more than 30 surgeons performed over 80 procedures with more than 250 deployments in total over the course of the last three months.

MicroCutter has been used in appendectomies, intestinal resections, lung resections, vascular transections and a host of other gastrointestinal procedures. Already, surgeons have used the XCHANGE 30 to treat ten patients in or clinical trial. Many of these patients have been discharged and to date we are not aware of any serious adverse events associated with the use of the MicroCutter.

One of the highlights of the last week was a seven-year old patient who needed an appendectomy. This procedure was performed flawlessly with the MicroCutter system, which allowed the surgeon to resect the appendix with our stapling device through a 5 mm trocar port. Avoiding larger torcars with their associated prevalence for surgical complications, pain and discomfort in children is considered when they have very appealing features of the MicroCutter XCHANGE 30. Therefore, as the MicroCutter is used by more surgeons, we believe there will be an increasing number of pediatric applications.

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