EntreMed Reports Third Quarter 2007 Financi...(2008 we expect research and developmente...),Health

Date:11/6/2007

2008, we expect research and development expenses to trend up in the fourth quarter and into 2008. With the completion of the recent secured financing, we are reporting over $50 million in cash and short-term investments, an amount that will fund planned operations into 2009."

James S. Burns, EntreMed President and Chief Executive Officer, commented, "Our progress for the first nine months of 2007 is consistent with both our guidance and my expectations. We continue to make progress with both our clinical and preclinical programs and are on track to achieve the remainder of our 2007 milestones. We are also continuing to build our oncology drug development expertise through selective additions to the management team. Last month we announced the addition of Dr. Kenneth W. Bair as Senior Vice President, Research and Development. Building a focused pipeline of multi-mechanism drug candidates with an experienced team to manage their development remain primary goals for the Company."

As previously announced, Mr. Burns will give a corporate overview today during the Rodman & Renshaw 9th Annual Healthcare Conference. Mr. Burns' presentation is scheduled for 10:15 a.m. (ET) this morning and will be web cast. To access the live presentation, visit the Company's web site at http://www.entremed.com. An archive of the presentation will be available on the web site for approximately 90 days. EntreMed anticipates conducting a Company update call, including preliminary guidance for 2008, in December. Dial-in information for the call will be disseminated in a separate announcement.

About EntreMed

EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem(R) NCD (2-methoxyestradiol or 2ME2) is currently in multiple Phase 2 clinical trials for cancer. MKC-1, an oral cell-cycle regulator, is in multiple Phase 1 and
'/>"/>

SOURCE EntreMed, Inc. Copyright©2007 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5
Related medicine news :

1. EntreMed Receives Deloitte Technology Fast 50 Award
2. EntreMed to Present at the Bio 2007 Investor Forum
3. EntreMed Presents Results for Panzem(R) NCD Phase 2 Ovarian Cancer Study
4. EntreMed to Present at the Rodman and Renshaw 9th Annual Healthcare Conference
5. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
6. Haemacure Reports Third Quarter 2007 Results
7. First-Ever List of the 5,000 Fastest-Growing Businesses Reports Total Revenue of $194.5 Billion
8. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
9. MDS Reports Third Quarter 2007 Results
10. Allied Healthcare Reports Strong Fourth Quarter, Flat Net Income for Fiscal 2007 vs. 2006
11. AtriCure Reports First Human Implant of the Cosgrove-Gillinov Left Atrial Appendage Occlusion System