TFN Grapevine: Drop despite 50% loss reduction? Could this biotherapeutics stock double?
Today's Financial News - Posted May 12, 2009
TFN eNews reader Carl S. believes that the post-earnings drop in Cardium Therapeutics Inc. (AMEX:CXM) is unjustified. Do you agree?
by J. Christoph Amberger
Baltimore—TFN: We at TFN consider ourselves a clearing house of good, solid, investment-related information. Which means we’re always glad to get tips or inside scoops from our readers. Since our editors are usually deep into their own research, we can’t follow up on all of the good information we receive. (Plus, our legal department doesn’t like us writing about stocks that trade at prices below $1.)
Every now and then, we just pass on the information to our readers. You’re welcome to submit your favorite “secret stock tip” to us…
If you choose to contact us with a bit of grapevine… make sure your e-text isn’t all that cryptic!
“Cardium Therapeutics Inc. (AMEX:CXM) dropped after announcing earnings for Q1. What seems to be overlooked is the fact that Cardium made significant progress in Q1 with the InnerCool Therapies and Tissue Repair Company subsidiaries. The Tissue Repair Company in particular made immense progress on patient recruitment for its Phase IIb MATRIX clinical trial of Excellarate for the potential treatment of diabetic ulcers. InnerCool continued with the successful development of the UroCool pelvic cooling catheter system.
“Cost savings are working their way into the CXM’s operating results. Loss from ops was reduced by almost 50% compared to the same period a year ago. Results also include substantial non-cash charges to adjust for the fair market value of common stock warrants required beginning this quarter as a result of the adoption of Emerging Issues Task Force. Currently @ $1.70… definitely think this could go up to $2.50 or $3 in the next 2 Qs.”
—Carl S., May 11th, 2009 at 11:59 am
What’s your assessment? Give us your input below!
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