CardioVascular Dynamics announces share repurchase program.IRVINE, Calif.--(BW HealthWire)--May 8, 1997--CardioVascular Dynamics Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCVD CCVD Communauté de Communes du Val de Drôme CCVD Combustion Chemical Vapor Deposition ) Thursday announced that the company's board of directors has authorized the repurchase, from time to time, of up to 700,000 shares of CardioVascular Dynamics common stock on the open market or in negotiated transactions, depending upon market conditions and other factors. CardioVascular Dynamics has approximately nine million shares of common stock outstanding. The repurchase shares will be used to meet the company's common stock requirements for its employee stock plans. Commenting on this decision, CVD CVD Cardiovascular disease, see there Chairman and Chief Executive Officer Michael R. Henson said: "The company's Board and Management Team remain enthusiastic about CVD's three business foundations: Focused Stenting, 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 , and Minimally Invasive Vascular Surgery. "The purchase of up to 700,000 shares equals the number of new Incentive Stock Option Plan shares we have requested the CVD shareholders approve for 1997." CVD develops and markets site-specific drug delivery catheters, 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, and vascular access products. -0- Note to Editors: Except for the historical information contained herein, the matters discussed in this news release may be forward-looking statements, the accuracy of which is 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, as well as those risk factors set forth in the CVD Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1996. CONTACT: CardioVascular Dynamics Inc., Irvine Investor Relations Heather Murray, 714/457-9546 |
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