SAN DIEGO, May 15, 2012 /PRNewswire/ -- Cardium Therapeutics (NYSE Amex: CXM) today presented its financial results for the first quarter ended March 31, 2012, and other recent developments.
In addition to the announcement of first quarter 2012 financial results, Cardium reported its goals for 2012, which were outlined in the year-end report, and include (1) plans to advance commercialization of its new Excellagen® advanced, physician-use wound care product through strategic partners in the U.S., as well as internationally; (2) develop new product extensions based on Excellagen's formulated collagen product platform for additional wound healing applications; (3) advance of its ASPIRE Generx® clinical study at leading medical centers in the Russian Federation for patients with advanced coronary disease; (4) introduce additional product line extensions and broaden national distribution of the Company's MedPodium® healthy lifestyle product platform; and (5) continue to identify and evaluate businesses, product opportunities and technologies for potential acquisition on favorable economic terms consistent with the Company's long-term business strategy.
First Quarter 2012 Financial HighlightsThe Company's research and development costs for the three months ended March 31, 2012 totaled $1.2 million and selling, general and administrative expenses were $1.5 million, compared to $492,000 and $1.3 million, respectively, for the same period last year. The increase in expenses related to development costs associated with testing and validation of our Excellagen product, the initiation of the Generx ASPIRE study, and marketing efforts for the new FDA-cleared Excellagen product and the MedPodium Nutra-Apps® product li
|SOURCE Cardium Therapeutics|
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