Monday, February 6, 2012

Cardica loses $3.2M in Q2, borrows $2M

Cardica Inc., which makes surgical devices, lost $3.2 million in the December quarter, its second, and borrowed $2 million from Century Medical Inc. on Dec. 27.
Redwood City-based Cardica (NASDAQ: CRDC) had an earlier secured debt deal with Japan’s Century Medical, an arrangement with $2 million left on it. Cardica made a distribution deal with Century Medical in September, and had already borrowed $2 million on the $4 million total allowed in the debt agreement.

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