SAN DIEGO--(BUSINESS WIRE)--Cardium Therapeutics, Inc. (OTCBB:CDTP) announced today that the Securities and Exchange Commission has declared effective its resale registration statement on Form S-3 relating to the resale by certain of its security holders of shares of Cardium’s common stock. The registration statement registers the resale by the selling stockholders named in the registration statement of shares of stock issued to them in connection with closing of the Company’s $21.5 million private placement financing with institutional and other accredited investors, which was completed in March 2007. In connection with the private equity financing, Cardium also issued warrants to purchase its common stock. The resale of the shares underlying those warrants was also covered by the registration statement. Cardium will receive no proceeds from the resale of common stock by the selling stockholders, but it may receive proceeds from the exercise of the warrants.
