Dextera Surgical Provides Corporate Update
October 05 2017 - 7:00AM
Business Wire
-- Preliminary Fiscal 2018 First Quarter
Revenue --
-- Update on Strategic Partnership
--
-- Conference Call at 8:30 a.m. ET Today
--
Dextera Surgical Inc. (Nasdaq: DXTR), a company developing and
commercializing the MicroCutter 5/80™ Stapler, today announced that
revenue for the third quarter of fiscal 2018 will be approximately
$568,000, with a current backorder of approximately $178,000 for
MicroCutter Staplers and reloads.
“As we have scaled up production of the MicroCutter 5/80, we
have had difficulty qualifying some of the raw material for our
reloads and as a result we experienced limited ability to ship
product to our customers,” said Julian Nikolchev, president and CEO
of Dextera Surgical. “We are working diligently to resolve these
issues.”
Mr. Nikolchev continued, “While we continue to have active
discussions with B. Braun regarding a strategic collaboration,
these discussions are taking longer than expected and with support
from our investment banker, the Board has decided to explore all
strategic options available to us at this time.”
Conference Call Details
To access the live conference call today at 8:30 a.m. Eastern
Time via phone, please dial 844-419-1785 from the United States and
Canada or 216-562-0472. The conference ID is 96063203. Please dial
in approximately 10 minutes prior to the start of the call. A
telephone replay will be available beginning approximately four
hours after the call through October 12, 2017, and may be accessed
by dialing 855-859-2056 from the United States and Canada or
404-537-3406 internationally. The replay passcode is 96063203.
To access the live and subsequently archived webcast of the
conference call, go to the Investor Relations section of the
company’s website at ir.dexterasurgical.com. Please connect to the
website at least 15 minutes prior to the presentation to allow for
any necessary software downloads.
The webcast is also being distributed through the Thomson
StreetEvents Network. Institutional investors can access the call
via Thomson StreetEvents at www.streetevents.com, a
password-protected event management site.
About Dextera Surgical
Dextera Surgical designs and manufactures proprietary
stapling devices for minimally invasive surgical procedures. In the
U.S., surgical staplers are routinely used in more than one million
minimally invasive laparoscopic, video-assisted or robotic-assisted
surgical procedures annually.
Dextera Surgical also markets the only automated
anastomosis devices for coronary artery bypass graft (CABG) surgery
on the market today: the C-Port® Distal Anastomosis Systems and
PAS-Port® Proximal Anastomosis System. These products, sold
by Dextera Surgical under the Cardica brand name, have
demonstrated long-term reliable clinical performance for more than
a decade.
Forward-Looking Statements
The statements in this press release regarding the expected
revenue for the first quarter of fiscal 2018 are "forward-looking
statements." There are a number of important factors that could
cause results to differ materially from those indicated by these
forward-looking statements, including that the company has not
closed its books for the quarter and unexpected changes may be
discovered during the closing process. Other risks regarding
Dextera Surgical are detailed from time to time in Dextera
Surgical’s reports filed with the U.S. Securities and Exchange
Commission, including its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2017, under the caption “Risk
Factors.” Dextera Surgical expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein. You are encouraged to
read Dextera Surgical’s reports filed with the U.S. Securities and
Exchange Commission, available at www.sec.gov.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171005005338/en/
Contact:Bob Newell, 650-331-7133Vice President, Finance
and Chief Financial Officerinvestors@dexterasurgical.com