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Cardium Reports on Second Quarter 2009 Financial Results and Recent Developments
Date:8/11/2009

SAN DIEGO, Aug. 11 /PRNewswire-FirstCall/ -- Cardium Therapeutics (NYSE Amex: CXM) today reported its financial results for its second quarter ended June 30, 2009, and on recent developments and future outlook.

(Logo: http://www.newscom.com/cgi-bin/prnh/20051018/CARDIUMLOGO)

Cardium made significant progress since first quarter 2009 financial report and highlights included (1) the sale of its InnerCool Therapies business to Royal Philips Electronics; (2) the completion of enrollment of the MATRIX 2b clinical trial of Excellarate for the potential treatment of diabetic ulcers with full data to be announced in late September 2009; and (3) the announcement of the Company's new orthobiologics initiative which is designed to build on and extend the underlying technology that has been developed by the Tissue Repair Company for soft tissue injuries such as diabetic ulcers to hard tissue applications such as bone. The Company's new orthobiologics initiative combines (i) proprietary Gene Activated Matrix(TM) or GAM(TM) delivery and ligand targeting; (ii) use of GAM to locally produce proteins capable of stimulating bone and other tissue growth; and (iii) a substantial body of pre-clinical research and development supporting the use of GAM to deliver bone growth factors. It was also reported that the Company regained its listing compliance with the NYSE Amex.

In addition, as initially reported in November 2008, Cardium instituted several important strategic actions intended to focus its overall operating structure and generate cost efficiencies. Based on these actions, cost savings have begun to be reflected in the Company's operating results. In particular, for the first six months of 2009, Cardium's loss f
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SOURCE Cardium Therapeutics
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Related medicine news :

1. Cardium Completes Sale of InnerCool Therapies Business to Royal Philips Electronics
2. Cardium Receives Preliminary Notification of Inclusion in the Russell 3000(R) Index and Russell Global(R) Index
3. Cardium Presents Gene Activated Matrix Technology and Update on Excellarate Clinical Development Program at ASGT Annual Meeting
4. Cardium Reports on First Quarter 2009 Financial Results and Recent Developments
5. Cardium Reports on New Excellarate(TM) Product Formulations to Expand Commercialization Potential Into Multiple Wound Healing Applications
6. Cardium Provides Update Regarding Exchange Listing Compliance Plan Accepted by NYSE Amex
7. Cardiums InnerCool Announces Journal of Neurotrauma Highlights Hypothermia Therapys Role in Post Cardiac Arrest, and Traumatic Brain and Spinal Cord Injury Patients
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9. Cardiums Exchange Listing Compliance Plan Accepted by NYSE Alternext US
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