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Cardium Presents Second Quarter 2012 Financial Results And Reports On Recent Developments
Date:8/14/2012

SAN DIEGO, Aug. 14, 2012 /PRNewswire/ -- Cardium Therapeutics (NYSE MKT: CXM) today presented its financial results for the second quarter ended June 30, 2012 and reported on other recent developments including: (1) agreement with Advanced Biosciences Research, an affiliate of bioRASI, for the planned commercialization of Excellagen® physician-use wound care product in the Russian Federation and the CIS; (2) agreement with Angel Biomedical for the manufacture of Excellagen and to assist Cardium in filing for a CE Mark for the potential marketing and sale of Excellagen in the European Union; (3) selection of Excellagen as one of the top ten podiatry innovations in 2012 by Podiatry Today publication; (4) publication of important research findings that have been incorporated into the treatment protocols of the Company's Generx® ASPIRE Phase 3 / registration study for patients with advanced coronary disease; and (5) introduction of the Neo-Chill Nutra-App® to the Company's MedPodium® healthy lifestyle product platform.  Consistent with its long-term business strategy, Cardium continues to identify and evaluate businesses, product opportunities and technologies for potential acquisition on favorable economic terms consistent with the Company's long-term business strategy.

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Second Quarter 2012 Financial HighlightsThe Company's research and development costs for the three months ended June 30, 2012 totaled $425,000 and selling, general and administrative expenses were $1.5 million, compared to $804,000 and $1.2 million, respectively, for the three months ended June 30, 2011. For the six months ended June 30, 2012, research and development costs were $1.6 million and selling, general and administrative expenses were $3.0 million, compared to $
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