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Cardica Announces Fiscal 2008 Second Quarter Financial Results and Business Progress
Date:1/24/2008

f events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with Cardica's dependence upon the success of its current products, market acceptance of Cardica's C-Port(R) Distal Anastomosis Systems, manufacturing of the C-Port(R) Distal Anastomosis Systems and PAS-Port(R) Proximal Anastomosis System and our suppliers, Cardica's sales, marketing and distribution strategy and capabilities, success of pre-clinical studies of and regulatory activities related to the Cook Vascular Closure Device and specialized PFO closure device, the timing of completion and success of the multi-national clinical trial evaluating Cardica's PAS-Port Proximal Anastomosis System and Cardica's need for additional funding. These and other risk factors are discussed under "Risk Factors" in Cardica's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2007. Cardica 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 the Company's reports filed with the U.S. Securities and Exchange Commission, available at http://www.sec.gov.

~ financial statements to follow ~

Cardica, Inc.

Statements of Operations

(amounts in thousands except per share amounts)

Three months ended Six months ended

December 31, December 31,

2007 2006 2007 2006

(unaudited) (unaudited)

Revenue

Product revenue, net $1,283 $416 $2,309 $874

Development revenue 39
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SOURCE Cardica, Inc.
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