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

1.3 million and $2.5 million, respectively, for the six months ended June 30, 2011.  The increase in research and development for the six months ended June 30, 2012 was mainly due to expenses related to the development of our Excellagen product which is now commercially available, as well as increased costs related to our Generx ASPIRE study.  The increase in selling, general and administrative expenses for the six-month period was primarily due to increases in expenses related to the marketing efforts for Excellagen and the MedPodium Nutra-Apps® product line.  Revenue for the three months ended June 30, 2012 was $13,000 and for the six months ended June 30, 2012 totaled $34,000.  Revenues during this period were primarily generated from the  introduction of the MedPodium Nutra-Apps product line and initial introduction of the Company's Excellagen wound care product. During second quarter 2012, Cardium's initial market introduction of Excellagen was predominantly focused on physician product sampling to "seed" the market and support physician-based post-marketing case studies. 

For the three months ended June 30, 2012, the Company reported a net loss of $1.9 million, or $(0.02) per share, compared to a net loss of $1.8 million, or $(0.02) per share for the three months ended June 30, 2011For the six months ended June 30, 2012, the Company reported a net loss of $4.5 million, or $(0.04) per share, compared to a net loss for the six months ended June 30, 2011 of $3.5 million, or $(0.04) per share.  The increase in the net loss was due primarily to testing, validation and marketing costs for the Company's Excellagen wound care product.  As of June 30, 2012, the Company had a total of $6.3 million in cash compared to $4.7 million in cash at the end of December 31, 2011.  As of June 30, 2012, 119.6 million shares of Cardium's common stock were outstanding.

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