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Cardica Announces Fiscal 2010 Second Quarter Financial Results
Date:1/28/2010

span> were approximately $6.9 million compared with approximately $15.0 million for the same period of 2009. The net loss for the first six months of fiscal 2010 was approximately $4.9 million, or $0.25 per share, compared to $9.9 million, or $0.63 per share, for the same period of fiscal 2009.

Cash and cash equivalents at December 31, 2009 were approximately $11.1 million compared with $13.3 million at September 30, 2009 and $5.3 million at June 30, 2009.  As of December 31, 2009, there were approximately 24 million shares of common stock outstanding.

Financial Guidance for Fiscal 2010

Cardica continues to be in a transition period for its cardiac surgery business and is not able to provide product sales guidance for fiscal 2010. For fiscal 2010, Cardica continues to expect that research and development and selling, general and administrative expenses will total between $11 million and $13 million, including non-cash stock-based compensation expense of approximately $1.5 million. Cardica continues to expect its cash and cash equivalents to decline by approximately $2.5 million per quarter in fiscal 2010, without giving effect to any additional financing transactions that may occur.

Conference Call Details

To access the live conference call on January 28, 2010 at 4:30 p.m. Eastern Time via phone, please dial 866-783-2139 from th
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SOURCE Cardica, Inc.
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