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Cardium Presents First Quarter 2011 Financial Results and Reports on Near-Term Milestones
Date:5/16/2011

SAN DIEGO, May 16, 2011 /PRNewswire/ -- Cardium Therapeutics (NYSE Amex: CXM) today presented its financial results for the first quarter ended March 31, 2011.

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In addition to the announcement of first quarter 2011 financial results, Cardium reported on the Company's near-term goals and milestones including the following: (1) commercialization plans and efforts to support Cardium's Excellagen wound management medical device which is pending clearance of an FDA 510(k) application for marketing and sales in the U.S.; (2) clearance from international health authorities to initiate a planned Phase 3 / Registration clinical trial for Generx® (alferminogene tadenovec/Cardionovo) as a non-surgical, angiogenic treatment option for patients with advanced coronary artery disease who are considering balloon angioplasty and stents or open heart bypass surgery; and (3) expanding the Company's development-stage MedPodium health and wellness brand platform with two new nutraceutical products: Cerex(to support cognitive function) and Alena(a carbohydrate blocker).

First Quarter 2011 Financial HighlightsFor the first quarter ended March 31, 2011, the Company reported a loss from operations of $1.8 million, compared to a loss from operations of $1.5 million for the same period in 2010.  The first quarter 2011 financial results also include an $88,000 favorable adjustment to results of operations for the non-cash change in fair value of certain common stock warrants recorded as "Change in Fair Value of Derivative Liabilities", compared t
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