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Cardium Presents First Quarter 2013 Financial Results And Reports On Recent Developments
Date:5/15/2013

learned during the past decade of the Company's Generx clinical development program.
  • Publication of the paper, "Mechanistic, Technical, and Clinical Perspectives in Therapeutic Stimulation of Coronary Collateral Development by Angiogenic Growth Factors," authored by Gabor M. Rubanyi, M.D., Ph.D., Cardium's Chief Scientific Officer, in the April issue of Molecular Therapy publication.  The publication outlines current scientific knowledge about the mechanistic basis of adaptive coronary collateral growth, the biological processes to be targeted by therapeutic angiogenesis, and the optimization of clinical trial designs, including the Generx ASPIRE Phase 3 / registration study.
  • Expanded To Go Brands® VitaRocks® kids vitamin product line and broadened retail distribution of the newly-designed products into select nationwide Target stores.  Because of the unique manufacturing process of To Go Brands' VitaRocks platform, the Company now has the flexibility to expand the product line into formulas that could include enzymes, electrolytes, amino acids, vitamins and minerals, as well as nutrients, and into other applications including Over-the-Counter (OTC) drugs.
  • (Logo: http://photos.prnewswire.com/prnh/20051018/CARDIUMLOGO)

    Financial ReportProduct sales for the three months ended March 31, 2013 totaled $599,000, compared to $20,000 for the same period in 2012. The increase in sales during the first quarter 2013 reflects sales from Cardium's To Go Brands health science-based operating unit (representing approximately 92% of total product sales) and sales of Cardium's Excellagen advanced wound care product (8% of total product sales). 

    Cardium's research and development costs for the first three months ended March 31, 2013 totaled $762,000, compared to $1.2 million for the three months ended March 31, 2012.
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    SOURCE Cardium Therapeutics
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