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

-$   261,549Research and development

(738,014)(1,176,942)(1,871,175)(3,528,249)Selling, general and administrative

(1,083,066)(1,309,332)(3,402,561)(3,819,473)Loss from operations

(1,821,080)(2,250,357)(5,273,736)(7,086,173)Interest income (expense), net

9,049(1,335,511)24,585(5,878.853)Change in fair value of derivative liabilities

(1,636,700)1,964,66370,280(12,509,518)Loss from continuing operations

(3,448,731)(1,621,205)(5,178,871)(25,474,544)Income (loss) from discontinued operations

-95,576-(1,930,636)Gain on sale of business unit

-6,408,603-6,408,603Net income (loss)

$
(3,448,731)$   4,882,974$ (5,178,871)$(20,996,577)Net loss per common  share – basic and diluted

$
(0.04)$
.10$
(0.07)$
(0.44)Weighted average common shares outstanding  – basic

77,852,15447,771,60971,956,29847,214,142Weighted average common shares outstanding  – diluted

77,852,15449,629,07971,956,29847,214,142Cardium Therapeutics, Inc.Reconciliation of Non-GAAP MeasureAs of September 30, 2010Three months ended September 30,Nine months ended September 30,2010200920102009Net  income (loss)

$
(3,448,731)$   4,882,974$(5,178,871)$(20,996,577)Add (subtract)Stock based compensation expense

80,337124,129315,129494,750Amortization of deferred financing cost and debt discount

-1,085,678-4,903,078Change in fair value of derivative liabilities

1,636,700(1,964,663)(70,280)12,509,518Income (loss) from discontinued operations

-(95,576)-1,930,636Gain on sale of business unit

-(6,408,603)-(6,408,603)Non-GAAP net loss

$
(1,731,694)$
(2,376,061)$   (4,934,022)$
(7,567,198)Non-GAAP net loss per common  share – basic and diluted

$
(0.02)$
(0.05)$
(0.07)$
(0.16)Weighted average common shares outstanding  – basic

77,852,15447,771,60971,956,29847,214,1
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SOURCE Cardium Therapeutics
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