3SOF

Profile:
Cardica, Inc. designs and manufactures proprietary automated anastomotic systems used by surgeons to perform coronary artery bypass surgery. The company's products include C-Port Distal Anastomosis System, which is designed to perform an end-to-side distal anastomosis by attaching the end of a bypass vein graft to a coronary artery downstream of an occlusion or narrowing; C-Port xA Distal Anastomosis System, an enhanced C-Port system, which includes a change from a spring-driven to a gas release-driven stapling mechanism, as well as incorporates non-traumatic vessel clamps and safety mechanisms; and C-Port Flex A Anastomosis System, which includes modifications to the C-Port xA system that are designed to enable automated anastomoses to be performed as part of minimally invasive and robot-facilitated CABG procedures. Its products also comprise PAS-Port Proximal Anastomosis System, an automated device used to perform an end-to-side proximal anastomosis between a saphenous vein and the aorta. In addition, the company develops the Cook Vascular Closure Device to be used in interventional vascular procedures. Cardica has an agreement with Cook Incorporated for the development of the Cook Vascular Closure Device, as well as to develop and commercialize a specialized device to close the PFO. It primarily sells the C-Port systems in the United States and Europe, and the PAS-Port systems in Europe and in Japan through distributors. The company was founded in 1997 as Vascular Innovations, Inc. and changed its name to Cardica, Inc. in 2001. Cardica is headquartered in Redwood City, California.

Analyst:
Cardica initiated with "buy"
05/02/08 - Lazard Capital Markets
NEW YORK, May 2 (newratings.com) - Analysts at Lazard Capital initiate coverage of Cardica Inc (CRDC) with a "buy" rating. The target price is set to $14.

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Shorts update:
CRDC: Short Interest UP 0.6% to 704.3K at the End of May 2008
Tuesday , June 10, 2008 16:16ET

According to new short interest data from NASDAQ, short interest for Cardica, Incorporated (NasdaqNM: CRDC) INCREASED 0.6% to 704,292 shares as reported at month-end May, 2008.
Based on CRDC's 20-day average daily share volume of 78,577, it would require approximately 9 day(s) of buying to cover this short interest.

Reason for pop up:
Cardica to Host Investor Briefing on 'Revolutionizing Revascularization'
Monday , June 09, 2008 14:00ET

REDWOOD CITY, Calif., June 9 /PRNewswire-FirstCall/ -- Cardica, Inc. (Nasdaq: CRDC) today announced that it will webcast an investor briefing on the topic of "Revolutionizing Revascularization" on Thursday, June 12, at 5:15 p.m. Eastern Time in Boston. The event will feature a panel of renowned cardiovascular surgeons who will discuss how surgeons are integrating new techniques to improve coronary artery bypass graft (CABG) procedures, including the use of Cardica's C-Port(R) Distal Anastomosis Systems, which are designed to allow surgeons to automate the attachment of blood vessel grafts during CABG procedures, replacing traditional hand-sewn sutures.

The Company also announced that data from the 220-patient prospective, randomized pivotal clinical trial of its PAS-Port(R) Proximal Anastomosis System will be presented at the 2008 Annual Scientific Meeting of the International Society for Minimally Invasive Cardiothoracic Surgery (ISMICS) in Boston. The presentation, entitled "The Cardica PAS-Port Proximal Anastomotic Connector Device: First Report of the Results of the FDA Trial," will be given during the Late Breaking News session on Thursday, June 12, at 1:15 p.m. Eastern Time by principal study investigator John D. Puskas, M.D., chief of cardiac surgery at Emory Crawford Long Hospital in Atlanta. As previously announced, the trial, which compared graft vessel connections made using the PAS-Port system to conventional hand-sewn sutures during CABG procedures, achieved all of its primary and secondary endpoints. Based on the positive trial data, Cardica submitted a 510(k) premarket notification in April to the U.S. Food and Drug Administration for the PAS-Port system.

Panelists for the investor event will include:

    -- Husam H. Balkhy, M.D., chairman of cardiothoracic surgery at The
       Wisconsin Heart Hospital and clinical assistant professor of surgery at
       the Medical College of Wisconsin.  He is a well-known advocate of
       minimally-invasive cardiac surgery and has the largest experience in
       the United States with distal anastomotic devices in coronary artery
       bypass.

    -- Robert S. Poston, M.D., chief of cardiac surgery at Boston Medical
       Center.  Previously, he was an associate professor of surgery at the
       University of Maryland where he focused his activities in the field of
       off-pump and minimally-invasive/robotic CABG.  His research into
       minimally-invasive CABG and the hybrid procedure was recognized in 2005
       by the Daily Record magazine as an "Innovation of the Year."

    -- Sudhir Srivastava, M.D., director of robotic and minimally-invasive
       cardiac surgery at the University of Chicago Medical Center.  He
       pioneered both the da Vinci revascularization and port-only coronary
       artery bypass surgical methods and has performed more of these
       procedures than any other surgeon in the world.

Chart:

Lazard 10th of June:

CRDC: BUY before data; expect device exceeds hand-suturing
Medical Technology patency rates; increasing visibility among cardiac surgeons


We expect proximal device data may show better patency than hand-sewn
anastomoses. Data from the 220-patient prospective, randomized pivotal clinical
trial of its PAS-Port Proximal Anastomosis System will be presented at the 2008
Annual Scientific Meeting of the International Society for Minimally Invasive
Cardiothoracic Surgery (ISMICS) in Boston on Thursday. The presentation,
entitled "The Cardica PAS-Port Proximal Anastomotic Connector Device: First
Report of the Results of the FDA Trial," will be given during the Late Breaking
News session at 1:15 p.m. EDT. Cardica has previously announced that the trial
met all FDA endpoints, but did not indicate whether the device has better results
than hand-sewn anastomoses. We think there is a high likelihood that patency
rates will be shown to be higher with the device, and this should lead to a boost in
share price.

More physicians and investors are becoming aware of Cardica. Cardica will
webcast an investor briefing on the topic of "Revolutionizing Revascularization"
on Thursday at 5:15 p.m. EDT. The event will feature a panel of renowned
cardiovascular surgeons who will discuss how surgeons are integrating new
techniques to improve coronary artery bypass graft (CABG) procedures, including
the use of Cardica's C-Port Distal Anastomosis Systems, which are designed to
allow surgeons to automate the attachment of blood vessel grafts during CABG
procedures, replacing traditional hand-sewn sutures. Recently, Cardica announced
that surgeon Sudhir Srivastava, M.D., of the University of Chicago, who has
completed 16 anastomoses in single and multivessel beating heart da Vinci
revascularization procedures using the C-Port Flex-A system through small
incisions in the chest cavity, plans to begin a training and education program for
other physicians, which we believe will increase adoption.

Our $14 price target is based on an EV/revenue model, using 4.6x our 2010
sales estimate of $47 million. Risks relate to FDA approval of PAS-Port and
surgeon adoption.

other research files attached

Cardica gets FDA nod for bypass surgery device
Tuesday , September 09, 2008 09:02ET

- Sept 9, Sep 09, 2008 (Reuters via COMTEX) -- Cardica Inc said its PAS-Port proximal anastomosis system for use in cardiac bypass surgery was approved by the U.S. Food and Drug Administration, sending its shares up 27 percent before the bell.

The medical device maker said the PAS-Port system creates a secure connection, or anastomosis, between a vein graft and the aorta, the main artery in the human body, during coronary artery bypass grafting procedures.

The PAS-Port system is already available in Japan and Europe, and the company plans to launch the device in the United States in the next several weeks.

As of June 30, more than 8,800 PAS-Port systems had been sold worldwide, Cardica said in a statement.