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Cardium Reports on Second Quarter 2008 Highlights and Financial Results
Date:8/11/2008

.html. Recruiting MATRIX clinical study sites and additional information can be found at Tissue Repair Company's website at http://www.t-r-co.com/matrix-clinical-study.html.

-- Ongoing patient recruitment of the Phase 3 Generx AWARE clinical Trial. The AWARE study website at http://www.anginaresearchstudy.com was launched to provide information about the study to patients, caregivers and physicians. The AWARE study is evaluating the therapeutic effects of Generx for the potential treatment of myocardial ischemia (insufficient blood flow within the heart muscle) and associated angina due to coronary heart disease. Recruiting AWARE clinical study sites and additional information can be found at Cardium's website at http://www.cardiumthx.com/flash/aware.html.

-- Appointment of Paul A. Foster, M.D. as Chief Medical Officer to lead the Company's MATRIX Phase 2b clinical study and the AWARE Phase 3 clinical study. Dr. Foster has held leadership clinical development and medical affairs positions at Reata Pharmaceuticals, IDEC Pharmaceuticals Corporation, Biogen Idec and Alpha Therapeutic and also has experience in the medical device arena, previously holding director positions at Abbot Laboratories and Dade Behring. Dr. Foster received his M.D. degree and medical training at Duke University.

-- Completion of two follow-on registered direct investments by institutional and other accredited investors with gross proceeds totaling approximately $6.6 million excluding placement agent fees and offering expenses and excluding any future proceeds from the exercise of the warrants issued in the offerings.

Financial Report

For the quarter ended June 30, 2008, the Company reported a net loss of $6.6 million, or $0.15 per share, which incl
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