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EntreMed Reports Second Quarter 2008 Financial Results
Date:8/6/2008

EntreMed to Conduct Update Call on Tuesday, August 12, 2008

ROCKVILLE, Md., Aug. 6 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today reported financial results for the three and six-month periods ending June 30, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010620/ENMDLOGO )

The Company reported a net loss for the second quarter of 2008 of ($9.6 million), or ($0.11) per share. This compares with a net loss of ($7.9 million), or ($0.10) per share, for the same period last year. For the first six months of 2008 the reported net loss was ($17.9 million), or ($0.22) per share as compared to ($15.6 million), or ($0.19) per share for 2007. The 2008 net loss for the three and six-month periods include a non-cash charge of $2.0 million, which represents a purchase price adjustment milestone triggered by the dosing of the first patient in a clinical trial for ENMD-2076, the lead molecule in our Aurora kinase program acquired from Miikana Therapeutics in January 2006.

The Company did not report any revenues for the first six months of 2008, although the Company believes that it will record royalty revenues in excess of $7 million on sales of Thalomid(R) by Celgene in the third and fourth quarters of 2008. As of June 30, 2008, EntreMed had cash and short-term investments of approximately $36 million.

Dane Saglio, EntreMed Chief Financial Officer, commented on the second quarter results, "During the second quarter of 2008, we recorded a $2.0 million non-cash charge resulting from the Company's dec
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SOURCE EntreMed, Inc.
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Related biology technology :

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2. Dana-Farber Cancer Institute Commences Phase 1 Trial With EntreMeds Selective Kinase Inhibitor
3. EntreMed Will Not Seek Shareholder Approval for Reverse Stock Split at Annual Meeting
4. EntreMeds Kinase Inhibitor, ENMD-2076, Presented During AACR Special Session
5. EntreMed Receives Nasdaq Deficiency Notice
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7. EntreMed Announces 2008 Corporate and Clinical Program Priorities
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10. EntreMed Presents Interim Results for Phase 2 Carcinoid Tumor Study
11. EntreMed Announces FDA Acceptance of IND Application for Aurora Kinase/Angiogenesis Inhibitor, ENMD-2076
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