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September 3, 2004 Stock Pick: Cardima, Inc. (CRDM)

Stock Price: $0.53

Cardima, Inc. has developed microcatheters for energy management system for the minimally invasive treatment of atrial fibrillation (AF). Specifically, they developed the REVELATION Helix for the treatment of AF originating in the pulmonary veins of the heart.

CRDM has gained $0.20 this week and appears to be gaining steam to make an even bigger run next week. It has been hit hard this summer and appears to have bottomed at the $0.35 level.

The company recently announced cutting operating costs by 27% for the second quarter and increasing revenues by 18% compared to the same period last year. Though, the companies fundamentals are improving, we believe CRDM is more of a technical buy.

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