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EntreMed Reports Clinical Program Progress and Company Update
Date:11/12/2008

in cash and short-term investments. The $28 million, together

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

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SOURCE EntreMed, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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