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Actionable news in CRDC: Cardica, Inc.,

Cardica: Form, Schedule Or Registration Statement No Filing Party: Date Filed: Contact: Bob Newell

The following excerpt is from the company's SEC filing.

Vice President, Finance and Chief Financial Officer

(650) 331-7133

investors@cardica.com

CARDICA

AND BROADFIN CAPITAL

ANNOUNCE FRAMEWORK OF A SETTLEMENT AGREEMENT

REDWOOD CITY, Calif

. – November 19, 2015 – Cardica, Inc. (Nasdaq: CRDC) and Broadfin Capital, LLC today announced that they have reached an agreement in principle on a number of items and continue to negotiate in good faith in an effort to end the contested election of directors at Cardica’s upcoming Annual Meeting of Stockholders to be held January 29, 2016. These items include:

Reducing the size of the Board from 8 members to 7;

Agreed-upon Board slate will consist of Julian Nikolchev, Michael Kleine, Gregory Casciaro, Samuel Navarro and William Younger plus two additional nominees to be mutually agreed upon from a short list provided by the Company to Broadfin; and

Board slate will be finalized no later than November 27, 2015.

“It’s time to resolve this contested election and we are making progress,” said Julian Nikolchev, president and CEO of Cardica. “Settlement of this contested election will allow the Board and new management team to focus on our business and efforts to continue to improve the performance of the MicroCutter XCHANGE® 30 surgical stapler prior to its broad commercial launch.”

“I am pleased that we have been able to come to terms with Cardica on many important...


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