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

5 500 702 500

Royalty revenue from

related-party 16 12 32 25

Total revenue 1,694 928 3,043 1,399

Operating costs and

expenses

Cost of product

revenue 1,199 884 2,212 1,563

Research and

development 1,746 1,661 3,434 3,149

Selling, general and

administrative 3,176 2,203 5,729 4,273

Total operating costs

and expenses 6,121 4,748 11,375 8,985

Loss from operations (4,427) (3,820) (8,332) (7,586)

Interest income 283 298 553 687

Interest expense (25) (132) (50) (396)

Other income 2 - 3 -

Gain on early retirement

of notes payable to

related-party - 1,183 - 1,183

Net loss $(4,167) $(2,471) $(7,826) $(6,112)

Basic and diluted net

loss per share $(0.29) $(0.23) $(0.56) $(0.60)

Shares used in computing

basic and diluted net

loss per share 14,471 10,642 14,037 10,210

Condensed Balance

Sheets (amounts

in thousands) December 31, June 30,

2007 2007

Assets (unaudited) (Note 1)

Cash and investments $30,903 $23,434

Other assets 4,513 3,890

Total assets $35,416 $27,324

Liabilities and

stockholders' equity

Total current

liabilities $3,008 $3,315

Total long-term

liabilities
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SOURCE Cardica, Inc.
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