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

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                             Cardium Therapeutics, Inc.
    
               Selected Condensed Consolidated Results of Operations
                                             
                               The Three Months Ended December 31, 
                                           (Unaudited)
                      --------------------------------------------------------
                                                  Pro forma      Pro forma
                         Actual       Actual       Results        Results
                          2009         2008         2009*          2008*
                          ----         ----         -----          -----
    
    Revenues            $183,397      $42,279      $183,397       $42,279     
                        --------      -------      --------       -------
    Research and
     development        (774,049)  (2,009,826)     (411,759)(1)(1,842,767)(1)
    General and
     administrative   (1,036,109)  (1,590,065)     (984,007)(1)(1,391,568)(1)
                       ---------    ---------       -------     ---------
    Loss from
     operations       (1,810,158)  (3,599,891)   (1,395,766)   (3,234,335)
                       ---------    ---------     ---------     ---------    
    Interest income
     (expense), net     (448,510)    (543,290)      (49,262)     (109,029)(8) 
    Change in fair
     value of 
     derivative
     liabilities      11,391,398            -             - (2)         -   
                       ---------    ---------       -------     ---------   
    Gain (loss) 
     from
     continuing
     operations        9,316,127   (4,100,902)   (1,261,631)   (3,301,085)    
    Income (loss)
     from
     discontinued
     operations   
'/>"/>
SOURCE Cardium Therapeutics
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