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Cardium Reports on Third Quarter 2009 Financial Results and Recent Developments
Date:11/10/2009

SAN DIEGO, Nov. 10 /PRNewswire-FirstCall/ -- Cardium Therapeutics (NYSE Amex: CXM) today reported its financial results for its third quarter ended September 30, 2009, and on recent developments and future outlook. Cardium made significant progress since its second quarter 2009 financial report and highlights included:

  • Sale of Cardium's InnerCool Therapies business to Royal Philips Electronics;
  • Completion and announcement of data from the Matrix Phase 2b clinical trial of Excellarate(TM) for the potential treatment of non-healing diabetic ulcers and the Company's plans to meet with the FDA to review the data and proposed outline for a Phase 3 clinical study;
  • Plans for the commercial development of a new product candidate Excellagen(TM), a collagen-based topical gel, through a FDA 510(k) clearance pathway for potential use by physicians in patients with topical wounds, which include diabetic ulcers as well as pressure ulcers, venous ulcers, surgical and trauma wounds, second degree burns, and other types of wounds;
  • Publication of positive findings from the open label multi-center Phase 1/2 Excellarate clinical study in the October 2009 issue of Wound Repair and Regeneration, a peer-reviewed journal of the Wound Healing Society;
  • Plans to develop a DNA-based orthobiologics product portfolio based on a reformulation of the Company's Excellarate product candidate that will initially focus on non-union bone fractures and spinal fusions;
  • Publication of preclinical research published in the scientific journal, Gene Therapy, demonstrating the potential benefits of the Cardium's Gene Activated Matrix technology for accelerating and enhancing periodontal tissue repair and oral implant osseointegration;
  • Completion of two registered direct investments of Cardium's common stock by institutional invest
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SOURCE Cardium Therapeutics
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