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

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                             Cardium Therapeutics, Inc.
                  Selected Condensed Consolidated Results of Operations

                                   Three Months Ended September 30,
                                             (Unaudited)
                          GAAP Financials           Non-GAAP Proforma
                          ---------------           -----------------
                                               Pro forma       Pro Forma
                          2009        2008    Results 2009*  Results 2008*
                          ----        ----    -------------  -------------
    Revenues          $235,917           $-     $235,917               $-
                      --------          ---     --------              ---
    Research and
     development    (1,176,942)  (2,612,414)  (1,158,324) (1)  (2,377,517) (1)
    Selling, general
     and
     administrative (1,309,332)  (1,678,500)  (1,203,821) (1)  (1,399,399) (1)
                    ----------   ----------   ----------       ----------
    Loss from
     operations     (2,250,357)  (4,290,914)  (2,126,228)      (3,776,916)
                    ----------   ----------   ----------       ----------
    Interest
     income
     (expense),
     net            (1,335,511)       8,028     (249,833) (5)       8,028
    Change in fair
     value of
     derivative
     liabilities     1,964,663            -            - (2)            -
                     ---------          ---          ---              ---
    Loss from
     continuing
     oper
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SOURCE Cardium Therapeutics
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