Navigation Links
EntreMed Reports First Quarter 2011 Financial Results
Date:5/16/2011

ROCKVILLE, Md., May 16, 2011 /PRNewswire/ -- EntreMed, Inc. (NASDAQ: ENMD), a clinical-stage pharmaceutical company, today announced financial results for the three months ended March 31, 2011.  

(Logo: http://photos.prnewswire.com/prnh/20010620/ENMDLOGO)

The Company reported a net loss for the first quarter of approximately ($2.6 million), or ($0.25) per share, compared with a net loss of ($2.1 million), or ($0.28) per share, for the same period last year.  The Company did not report any revenues for the first quarter 2011.  As of March 31, 2011, the Company had cash and short-term investments of approximately $4.8 million.  

Sara B. Capitelli, Vice President, Finance and Principal Accounting Officer, commented on the Company's first quarter results, "Our first quarter 2011 financial results were in line with expectations.  R&D expenses for the first quarter increased over the previous year as we continued to enroll patients in the ENMD-2076 Phase 2 ovarian cancer study.  The Company fulfilled its term loan obligation to GE Capital Corporation and the loan was repaid in full on January 3, 2011."

Michael M. Tarnow, Executive Chairman, commented, "During the first quarter, we remained diligent in our strategy for the development of ENMD-2076 while carefully managing our financial resources.  Earlier this year, we were pleased to announce the completion of enrollment for the ENMD-2076 Phase 2 study in patients with platinum resistant ovarian cancer. The trial is progressing and the data will be presented at the American Society of Clinical Oncology (ASCO) annual meeting in June."  

About EntreMedEntreMed, Inc. is a clinical-stage pharmaceutical company committed to developing ENMD-2076, a selective angiogenic kinase inhibitor, for the treatment of cancer.  ENMD-2076 is currently in a multi-center Phase 2 study in ovarian cancer and in several Phase 1 studies in solid tumors, multiple myeloma, and leukemia.  Additional information about EntreMed is available on the Company's web site at www.entremed.com and in various filings with the Securities and Exchange Commission.

Forward Looking StatementsThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time.  Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under "Risk Factors," including  the risk that we may be unable to continue as a going concern as a result of our inability to raise sufficient capital for our operational needs; the possibility that we may be delisted from trading on the Nasdaq Capital Market; the volatility of our common stock; risks relating to the need for additional capital and the uncertainty of securing additional funding on favorable terms; the failure to consummate a transaction to monetize the royalty stream for any reason, including our inability to obtain the required third-party consents; declines in actual sales of Thalomid® resulting in reduced revenues; risks associated with the Company's product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results; uncertainties relating to preclinical and clinical trials, including delays to the commencement of such trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks). 

(Financial Table Attached)ENTREMED, INC.

SUMMARY OF OPERATING RESULTSThree Months EndedMarch 31,2011

2010Total revenues

$0

$0Research and development

$1,398,274

$843,953General and administrative

$1,253,105

$1,051,225Net Loss

$(2,596,379)

$(2,126,144)Net loss per share attributable to common shareholders (basic and diluted)$(0.25)

$(0.28)Weighted average number of shares outstanding (basic and diluted)  11,444,711

8,540,812Cash and Short-term Investments

$4,828,893

$9,691,834CONTACT:
Ginny Dunn
EntreMed, Inc.
Associate Director
Corporate Communications &
Investor Relations
(240) 864-2643


'/>"/>

SOURCE EntreMed, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. EntreMed Reports Third Quarter 2010 Financial Results
2. EntreMed Receives Notice of NASDAQ Compliance
3. EntreMed Secures $5.1 Million in Registered Direct Offering and Enters into Agreement for Rights to License ENMD-2076 in China
4. EntreMed Receives NASDAQ Listing Rule 5550(b)(2) Determination Letter
5. EntreMed Reports Second Quarter 2010 Financial Results
6. EntreMeds ENMD-2076 Active in Solid and Hematological Cancers
7. Entremed Presents Results of ENMD-2076 Phase 1 Study in Advanced Cancer Patients
8. EntreMed Presents Initial Clinical Results for ENMD-2076
9. EntreMed Receives New Patent for 2-Methoxyestradiol Analogs
10. EntreMed Presents MKC-1 Phase 2 Data at American Society of Clinical Oncology Annual Meeting
11. EntreMed Presents MKC-1 and ENMD-1198 Preclinical Data at AACR Annual Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... N.C. , June 24, 2016  Consumers ... decisions and regulators/payers have placed more emphasis on ... environment, patient support programs in the pharmaceutical industry ... patients, medications. Consequently, pharmaceutical companies are focusing on ... they are providing products and services that improve ...
(Date:6/24/2016)... , June 24, 2016   Bay ... Rehabilitation Network,s Dean Center for Tick Borne ... Medicine and Rehabilitation, MIT Hacking Medicine, University of ... Innovation, today announced the five finalists of ... Lyme disease.  More than 100 scientists, clinicians, researchers, ...
(Date:6/24/2016)... Va. , June 24, 2016 The ... set of recommendations that would allow biopharmaceutical ... (HCEI) with entities that make formulary and coverage decisions, ... the "value" of new medicines. The recommendations ... does not appear on the drug label, a prohibition ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 26, 2016 , ... ... have been diagnosed with endometriosis. These women need a treatment plan to not ... comprehensive approach that can help for preservation of fertility and ultimately achieving a ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... First ... United States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell ... facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive ...
(Date:6/24/2016)... , ... June 24, 2016 , ... A recent ... most people are unfamiliar with. The article goes on to state that individuals are ... many of these less common operations such as calf and cheek reduction. The Los ...
(Date:6/24/2016)... ... ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys are ... for this recognition are considered among the top 2 percent of lawyers practicing within ... of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. Bloom, ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Clinical Decision Making in Emergency Medicine conference in Ponte Vedra Beach, FL. The ... published in Emergency Medicine Practice and Pediatric Emergency Medicine Practice. , ...
Breaking Medicine News(10 mins):