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

o a $437,000 favorable adjustment recorded in the first quarter of 2010.  Research and development costs for the three months ended March 31, 2011 totaled $492,000 and general and administrative expenses were $1.3 million, compared to $520,000 and $961,000, respectively, for the same period last year. For the first quarter ended March 31, 2011, the Company reported a net loss of $1.7 million, or $(0.02) per share, compared to a net loss of $1.0 million, or $(0.02) per share for the same period in 2010. As of March 31, 2011, the Company had a total of $6.3 million in cash ($5 million in cash and $1.3 million in restricted cash) compared to cash of $8.1 million ($6.7 million in cash and $1.4 million in restricted cash) at December 31, 2010.  As of March 31, 2011, 83.1 million shares of Cardium's common stock were outstanding.

Excellagen Formulated Fibrillar Collagen GelCardium's Excellagen wound management medical device candidate, which is pending FDA 510(k) clearance, is a custom formulated fibrillar collagen gel being developed for the management of dermal wounds including partial and full-thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds, trauma wounds, and other types of wounds.
During first quarter 2011, positive findings from the Company's Matrix Phase 2b clinical study were published in the journal, Wound Repair and Regeneration.  The clinical paper titled, "Formulated Collagen Gel Accelerates Healing Rate Immediately after Application in Patients with Diabetic Neuropathic Foot Ulcers", is available at www.cardiumthx.com/pdf/ExcellagenPaper_WoundRepair.pdf.
The Company has continued to progress forward with the Excellagen FDA 510(k) clearance for marketing and sales in the U.S. and is in discussions with potential partners for th
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SOURCE Cardium Therapeutics
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