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

pted by the stock exchange.  The Company reports that in view of the proposed Series A Convertible Preferred Stock financing, the NYSE MKT granted an additional quarterly extension of the listing compliance plan from March 31 to June 30, 2013, although as is normal course, the Company's listing compliance would continue to be evaluated on an ongoing basis.

The Company is seeking stockholder approval of the Series A Convertible Preferred Stock offering and a reverse stock split at its upcoming annual meeting of stockholders.  If the Company obtains stockholder approval, it intends to complete the second closing under the Series A Convertible Preferred Stock financing.  The net proceeds from that closing are expected to support the Company's operations at least through September 2013, providing additional time to commercialize its product portfolio and evaluate options for financing its continued operations.  The Company's principal business objective is to complete an additional strategic licensing agreement to advance sales of the Excellagen product family, enter into a distribution arrangement to advance sales of the To Go Brands nutraceutical business, or another corporate transaction. If the Company is unsuccessful in obtaining stockholder approval, it may be compelled to substantially curtail or to terminate operations, and would likely need to dispose of key assets in an effort to maintain liquidity.

About ExcellagenExcellagen is a novel syringe-based, professional-use, pharmaceutically-formulated 2.6% fibrillar Type I bovine collagen gel that functions as an acellular biological modulator to activate the wound healing process and significantly accelerate the growth of granulation tissue.  Excellagen's FDA-clearance provides for very broad labeling including partial and full-thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds (donor sites/g
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Related medicine technology :

1. Cardium Announces Generx Publication In Molecular Therapy
2. Cardium Announces Excellagen Presentation at the Symposium on Advanced Wound Care Spring 2013 Meeting
3. Cardium Presents Year-End 2012 Financial Results And Recent Developments
4. Cardium Announces $4.0 Million Preferred Stock Financing And Reports On Exchange Listing Compliance
5. Cardium Receives ISO Certification for Excellagen
6. Cardium Announces Presentaton at The 2013 Cell & Gene Therapy Forum
7. Cardium Presents Third Quarter 2012 Financial Results and Reports on Recent Developments
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10. Cardium Announces Plans For Commercializaton Of Excellagen® In The Russian Federation
11. Cardium to Present at Sachs Associates 2012 Science, Partner, and Investment Forum: Gateway for the Global Life Sciences
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