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Cardium Reports on Third Quarter 2010 Financial Results and Recent Developments
Date:11/9/2010

d management gel product candidate activates platelet release of platelet-derived growth factor (PDGF) locally at the wound site.  This growth factor has been shown to play an essential role in the wound healing process.
  • Cash grant award of approximately $245,000 under the U.S. Government's Qualifying Therapeutic Discovery Project ("QTDP") program to further the Company's Generx clinical development program.  The funds are immediately available and the Company will recognize the full award that was authorized on October 29, 2010 as revenue during the fourth quarter 2010.
  • Presentations at two investor conferences - the Rodman & Renshaw 12th Annual Healthcare Investment Conference and the 10th Annual Biotech in Europe Investor Forum, Zurich.  In addition, Cardium will be presenting at the LifeTech Capital Miami Medical Investors Conference on November 12, 2010 at 2:00 p.m. Eastern in Miami.  Although this presentation will not be webcast, investors can access the Company's presentation slides now available at Cardium's website at http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-presentations.
  • Continued identification and evaluation of innovative and capital-efficient product opportunities and strategic partnership opportunities for the Company's current product candidates as they are advanced and corresponding valuations are established.

  • Financial ReportFor the third quarter ended September 30, 2010, the Company reported a net loss of $3.4 million, or $(0.04) per share, compared to net income of $4.9 million, or $.10 per share for the same period in 2009.  For the nine months ended September 30, 2010, net loss was $5.2 million, or $(0.07) per share, compared to a net loss of $20.1 million, or $(0.44) per share, for the same nine-month period in 2009.  Financial results for the three months ended S
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