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Cardium Presents First Quarter 2012 Financial Results and Recent Developments
Date:5/15/2012

NYSE Amex LLC's letter dated November 26, 2010, as previously reported, and that it had regained compliance with the corresponding requirements of the Exchange.  The Exchange indicated that as with all listed issuers, the Company's continued listing eligibility will continue to be assessed on an ongoing basis and that the Company is subject to the provisions of Section 1009(h) of the NYSE Amex Company Guide, which may be accessed at www.nyse.com/regulation.

During first quarter 2012, the Company completed a registered direct equity financing with three institutional and accredited investors for net proceeds of approximately $4.5 million, after deducting placement agent's fees and estimated offering expenses.  The investors purchased an aggregate of 17.9 million shares of the Company's common stock for a price of $0.28 per share with no warrant coverage.  In addition, during the first quarter, the Company sold 5.2 million shares of common stock in at-the-market transactions for net proceeds of $1.9 million.  Under the terms of the Securities Purchase Agreement dated February 12, 2012, Cardium cannot issue common stock for cash consideration involving a variable rate transaction or issue common stock under its at-the-market sales agreement with Brinson Patrick Securities for a period of six months from the date of the agreement or until the date which our average stock price has exceeded $0.40 for 20 consecutive trading days.

About CardiumCardium is a health sciences and regenerative medicine company focused on the acquisition and strategic development of new and innovative bio-medical product opportunities and businesses with the potential to address significant unmet medical needs that have definable pathways to commercialization, partnering and other economic monetizations.  Cardium's current medical opportunities portfolio, which is focused on health sciences and regenerative m
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SOURCE Cardium Therapeutics
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