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Cardium Reports on Fourth Quarter and Year-End 2009 Financial Results and Recent Developments
Date:3/16/2010

span>, respectively, for the same period last year.  For the year ended December 31, 2009, research and development expense totaled $4.3 million and general and administrative expenses were $4.9 million, compared to $11.0 million and $6.5 million, respectively, for 2008.  The decrease was primarily due to reductions in the Generx Phase 3 clinical trial costs and related clinical support staff reductions and decrease in costs related to the completion of Cardium's Excellarate Phase 2b clinical study. 

Interest expense for the year ended December 31, 2009 was $6.3 million compared to $550,000 for the year ended December 31, 2008 and includes $5.3 million representing the non-cash amortization of the fair market value of warrants issued with the notes and amortized over the term of the notes and other debt costs.  The change in fair value of derivative liabilities was a favorable $11.4 million for the three months ended December 31, 2009 and an unfavorable $1.1 million for the year ended December 31, 2009, and we ended the year with derivative liabilities at December 31, 2009 of $4.8 million.  This non-cash liability represents the fair market value of warrants which were previously issued with down round price protection provisions and therefore recorded as deriva
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Related medicine technology :

1. Cardium and Tissue Repair Companys Excellarate Candidate for Healing Diabetic Wounds Gains Media Focus in Multiple Regions Across U.S.
2. Cardiums Innercool Therapies Unit Announces Publication of Positive Effects of Early and Rapid Hypothermia Following Heart Attack
3. Cardium Announces Appointment of Paul A. Foster, M.D. to Lead Generx and Excellarate Late-Stage Development Activities
4. Cardium Reports on Second Quarter 2008 Highlights and Financial Results
5. Cardiums InnerCool Announces Positive Benefits of Cooling During Robotic-Assisted Prostate Surgery Published in Urology
6. Cardium Reports on Applicability of Corgentin to Stem Cell Therapies: Independent Studies Indicate that Ad5IGF-1 Potentiates Stem Cells to Improve Cardiac Function After Heart Attack
7. Cardium Announces Completion of Patient Recruitment in Phase 2b Clinical Trial of Excellarate(TM) for the Potential Treatment of Diabetic Foot Ulcers
8. Cardium Completes Initial Patient Evaluation Period for MATRIX Phase 2b Excellarate Clinical Study
9. Cardium Reports Non-Healing Wounds Continue to Challenge Patients and Healthcare Providers
10. Cardium Presents at Tenth Annual Wound Healing: Science and Industry Conference on Matrix Wound Healing Clinical Development
11. Cardium Files FDA 510(k) Application for U.S. Marketing Clearance of ExcellagenXL(TM) Topical Gel and ExcellagenFX(TM) Flowable Collagen Protein-Based Matrix for Diabetic, Pressure and Venous Ulcers and Other Dermal Wounds
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