Pediatrix to record $33M in back compensation

Pediatrix Medical Group (Fort Lauderdale, Florida), a provider of neonatal, maternal-fetal and pediatric subspecialty physician services, said that the audit committee of its board of directors has completed an independent comprehensive review of Pediatrix's stock option practices and reported the findings to the board of directors. Based upon the audit committee's findings, the company has determined that it will have to record a non-cash pre-tax compensation expense for the period from Jan. 1, 1995 to March 31, 2006 currently estimated at about $33 million.

The Audit Committee reviewed the facts and circumstances surrounding options to purchase about 20 million shares of common stock, as well as about 700,000 shares of restricted stock, granted pursuant to more than 1,300 grants on 114 dates. More than 32 million physical and electronic documents were searched and 35 interviews with more than a dozen current and former directors, officers and employees were conducted.

Cardium Therapeutics to trade on AMEX

Cardium Therapeutics (San Diego) reported that its common stock will begin trading on the American Stock Exchange (AMEX) under the trading symbol CXM.

"Our listing on AMEX represents an important step forward in Cardium's overall corporate development. Since our initial funding in late 2005, we have made three key strategic acquisitions and have advanced our lead product candidate into a Phase 3 clinical study for heart disease. We are now advancing a second product candidate into a Phase 2b study for healing chronic diabetic wounds and establishing InnerCool Therapies as a leading player in the emerging field of patient temperature modulation for treating ischemic injuries," said Christopher Reinhard, Cardium's CEO/chairman.