with anticipated royalty inflows, is expected to fund planned operations
for more than 12 months.
-- Research and development expenses are expected to decline further in
2009 as the Company seeks partners for its ENMD-2076 kinase inhibitor
and rheumatoid arthritis programs and focuses down on its key clinical
programs. The Company is undergoing a review of its programs andexpects
to implement cost-saving measures in areas that are not essential to
meeting or accelerating its strategic clinical objectives for 2009.
These cost reductions, along with royalty revenues, are expected to
provide sufficient cash into 2010.
-- The Company is actively engaged in partnering discussions for its
Aurora/angiogenesis kinase inhibitor, ENMD-2076, and for Panzem(R) in
rheumatoid arthritis. EntreMed's goal is to select an appropriate
partner to accelerate the development for ENMD-2076 in the first half of
2009, and to partner Panzem(R) in RA by 2H09.
-- On October 3, 2008, the Company's stock was transferred from the
Nasdaq Global Market to the Nasdaq Capital Market. Trading of the
Company's stock was unaffected by the transfer. More recently, as a
result of Nasdaq's determination to temporarily suspend the minimum
$1.00 closing bid price rule based on the current extraordinary market
conditions, EntreMed received notification that it will have until July
6, 2009 to regain compliance with the minimum bid price rule.
Clinical Program Status
-- ENMD-2076 - Patients are currently being enrolled in the third cohort of
the Phase 1 clinical trial in advanced solid tumors. The
longest-treated patient on study has received six months of daily
|SOURCE EntreMed, Inc.|
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