Cardica (NSDQ:CRDC) said today it is rebranding under the name Dextera Surgical, shifting its Nasdaq ticker to the new symbol “DXTR,” effective this Wednesday.
The company said its new name reflects “an evolution for the company,” as its portfolio of offerings, including its MicroCutter surgical stapling tech, has expanded the company’s focus beyond its anastomotic product lines originally introduced for use in cardiac surgery.
“Today, we are helping to advance minimally invasive surgery around the world, with products that are helping surgeons operate more effectively in tight spaces through smaller incisions. Our newest technology is making an impact for patients in lung surgery, pediatric procedures and beyond, and the strategic focus of our business has expanded much further than the cardiac products for which our company was originally named. With a new management team and a clear vision forward, we’ve evolved as a company, and we think it’s time our name did too,” CEO Julian Nikolchev said in a press release.
The company said it will take several weeks for all of its materials, MicroCutter products and packaging to transition to the new brand, and that some materials may still be labeled under the old Cardica moniker.
“We love the name Dextera. It’s inspired by the word ‘dexterity,’ which emphasizes skill, expertise, agility and finesse. These are qualities we see in our employees, our products and the surgeons who are advancing minimally invasive surgery through the use of smaller, more maneuverable stapling technology,” Nikolchev said in a prepared statement.
A selection of the company’s systems, including its C-Port distal anastomosis systems and PAS-Port proximal anastomosis system for coronary artery bypass graft surgery will continue to be marketed under the Cardica brand name, Dextera said.
In April, Cardica said its MicroCutter Xchange 30 surgical stapler designed for thoracic surgery procedures was used in the 1st U.S. in-human case after winning expanded 510(k) clearance in January.
The treatment with the stapler was performed by Dr. Robert Cerfolio at the University of Alabama at Birmingham’s Comprehensive Cancer Center, the Redwood City, Calif.-based company said.
The device was used successfully during robotically assisted cancer surgeries to remove portions of the lung, including lobectomy and segmentectomy procedures, Cardica said. The company claims that the MicroCutter Xchange 30 is the world’s smallest-profile articulating stapler on the market.
