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Biotech / Medical : Biotech & Pharma.T.A,

BIB 82.74

-1.3%

Dec 26 4:00 PM EST

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To: Jibacoa who wrote (2611)	9/28/2009 12:32:09 PM
From: Jibacoa	Read Replies (2) of 3722

CRDC is up 28.10% with volume of 403,300 > 1.5x its ADV. The stock is bouncing up from the $1.25 level as it seems that it wants to close its Aug 14 DG.<g> bigcharts.marketwatch.com It announced today that it has obtained commitments from institutional and individual investors in order to sell about 8.1M shares of stock along with warrants to purchase up to about 4 million more shares, for approximately $10.2M The proceeds are to be used to develop the Cardica Microcutter as well as for other general purposes. The warrants will be exercisable at an exercise price equal to $1.45, which represents a 22% premium over the closing bid price on Sep 25. CRDC was able to trim some its loss in the Yr. that ended in June and is expected to cut the loss further (about 50%) in the current Yr. It sells around 0.9xBV with moderate LTD. Insiders reportedly hold >20% The short ratio came down > 60% in the last month, and remains around 0.3x its ADV. CRDC is not off from its longer term DT coming from its Sep 2008 H at $11.13 But with some good news the stock can double an retest its July 23 H at $3.19 <g> bigcharts.marketwatch.com On July 23 was when it announced that the results of the PAS-Port system multi-center trial, known as the EPIC trial, which was also published in the July issue of the Journal of Thoracic and Cardiovascular Surgery. The PAS-Port system, received clearance from the FDA in Sep 2008. It creates a secure anastomosis between a vein graft and the aorta during CABGs. Bernard

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