Non-compliance notification from NASDAQ issued to Cardica

Sep 5 2009

Cardica, Inc. (Nasdaq: CRDC) today announced that, on September 2, 2009, it received a notice from the Listing Qualifications Department of The NASDAQ Global Market (NASDAQ) stating that the Company's stock will be delisted from NASDAQ based upon NASDAQ staff's determination that Cardica has not regained compliance with the minimum $10 million stockholders' equity requirement for continued listing on the NASDAQ as stated under NASDAQ Marketplace Rule 5450(b)(1)(A). As a result, Cardica's securities will be delisted from NASDAQ unless, by September 9, 2009, Cardica requests a hearing before a NASDAQ Listing Qualifications Panel (Panel) to appeal the staff's determination. Cardica has requested a hearing before the Panel, and Cardica's securities will remain listed on NASDAQ pending a decision by the Panel following the hearing.

http://www.cardica.com