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Cardium Reports on Third Quarter 2008 Financial Results and Revised Business Strategies for Operating Units

), CoolBlue(TM). Accutrol(R), Temperature Control Element(R) and
TCE(R) and UroCool(TM) are trademarks of InnerCool Therapies, Inc.

Selected Consolidated Operational Results (Unaudited)

Three Months Ended Nine Months Ended

September 30,

September 30,

2008 2007 2008 2007

Statements of Operations


Total Revenues $585,421 $364,330 $1,858,264 $903,133

Cost of goods sold (514,243) (318,934) (1,199,193) (823,676)

Gross profit 71,178 45,396 659,071 79,457

Research and

development 2,947,997 3,243,008 10,289,883 9,901,087

Selling, general and

administrative 2,886,089 2,838,949 8,968,214 8,356,498

Amortization -

Intangibles 197,414 178,156 592,242 592,242

Loss from

operations (5,960,322) (6,214,717) (19,191,268) (18,770,370)

Interest, Net (191,193) 146,748 (328,837) 461,371

Net loss (6,151,515) (6,067,969) (19,520,105) (18,308,999)

Net loss per common

share - basic and


(0.13) (0.15) (0.44) (0.47)

Weighted average



basic and

diluted 46,603,700 40,928,219 44,322,663 38,759,118

Selected Consolidated

Balance Sheet Data: September 30, December 31,

2008 2007 (audited)

Cash and cash

equivalents $126,575 $7,722,816

Accounts receivable,

net 119,849 565,613

Inventory 1,818,021 1,037,164

Prepaid expenses and

other current assets 414,933 522,067

Property and equipment,


SOURCE Cardium Therapeutics
Copyright©2008 PR Newswire.
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