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Cardium Presents First Quarter 2011 Financial Results and Reports on Near-Term Milestones

Tuesday, May 17, 2011 General News J E 4
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Cardium Therapeutics, Inc.

Reconciliation of Non-GAAP Measure

As of March 31, 2011

Three Months Ended March 31,

2011

2010

Net Loss

$  (1,688,640)

$  (1,039,816)

    Add (subtract)

Stock-based compensation expense

22,519

120,479

Change in fair value of derivative liabilities

(88,170)

(437,370)

Non-GAAP net loss

$     (1,754,291)

$     (1,356,707)

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