CardioVascular Dynamics Repurchases an Additional 300,000 of its Common Shares.IRVINE, Calif.--(BW HealthWire)--Feb. 12, 1998--CardioVascular Dynamics Inc. (Nasdaq: CCVD CCVD Communauté de Communes du Val de Drôme CCVD Combustion Chemical Vapor Deposition ) Thursday announced that it has repurchased an additional 300,000 shares of its common stock. Over the past few months, CVD CVD Cardiovascular disease, see there has repurchased a total of 665,000 common shares as a part of a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program approved by the company's board of directors. Commenting on these purchases, CVD Chairman and Chief Executive Officer Michael Henson said: "All of us at CVD continue to be enthusiastic about our cardiovascular product technology and business plan. These repurchases are evidence of this enthusiasm. In addition, building on current data that indicates that these technologies offer superior methods of treating coronary and peripheral vascular diseases, during 1998, we will fund three major clinical trial programs with total costs in excess of $6 million to prove the clinical superiority of these technologies. During the second half of 1998, we except to begin introducing these products on a worldwide basis." CVD develops and markets coronary stent coronary stent Intracoronary stent Cardiology An expandable tubular device which can be inserted percutaneously, and left within a coronary artery lumen to maintain its patency Pros Clinical and angiographic outcomes are better with intracoronary artery stent delivery systems, balloon dilatation balloon dilatation a technique that uses a catheter with an inflatable balloon to increase the diameter of the lumen of a structure such as the urethra or a heart valve. See balloon valvuloplasty. catheters for coronary and peripheral vascular use, site-specific drug delivery catheters, and vascular access vascular access Clinical medicine The ability to enter the vascular system; the ease with which the vascular system can be entered for administering therapy or obtaining blood for testing products. -0- Except for the historical information contained herein, the matters discussed in this news release may contain forward-looking statements, the accuracy of which are necessarily subject to risks and uncertainties. The receipt of regulatory approvals and clinical efficacy of, manufacturability of and market demand for products, among other matters discussed in this release, may cause actual results to differ significantly from the discussion of such matters in the forward-looking statements. Actual results may be affected by, among other things, risk and uncertainties related to new product development and introduction cycles, research and development activities, delays by regulatory authorities, scientific advances by CVD or third parties, introduction of competitive products, third party reimbursement and physician training and those other risk factors and other items set forth in the company's Form 10-K/A for the year ended Dec. 31, 1996 and the company's Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. for the quarters ended March 31, 1997, June 30, 1997 and Sept. 30, 1997. CONTACT: CardioVascular Dynamics Inc., Irvine Dana Nickell, 714/457-9546 |
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