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EntreMed Reports First Quarter 2012 Financial Results
Date:5/15/2012

ROCKVILLE, Md., May 15, 2012 /PRNewswire/ -- EntreMed, Inc. (NASDAQ: ENMD), a clinical-stage pharmaceutical company, today reported financial results for the three months ended March 31, 2012. 

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

The Company reported a net loss for the first quarter of approximately ($2.5 million), or ($0.23) per share, compared with a net loss of ($2.6 million), or ($0.25) per share, for the same period last year.  The Company did not report any revenues for the first quarter 2012.  As of March 31, 2012, the Company had cash and cash equivalents of approximately $11.3 million. 

Sara B. Capitelli, Vice President, Finance and Principal Accounting Officer, commented, "Our financial resources were dedicated primarily to the clinical development of our primary drug candidate, ENMD-2076.  R&D expenses for the first quarter decreased from the previous year as fewer patients were enrolled in and remained on clinical trials during 2012, compared to the 2011 period when we were continuing to enroll patients in the ENMD-2076 Phase 2 ovarian cancer study.  We will continue to deploy our capital strategically to advance ENMD-2076, while at the same time continue to carefully monitor and control expenses.  We expect that R&D expenses for ENMD-2076 will remain consistent or increase from the first quarter as we execute on our drug development strategy in 2012."

Dr. Ken Ren, Chief Executive Officer, commented, "We start this next quarter with renewed determination, energy and a stronger balance sheet.  We expect to focus and execute on our development plans and leverage our resources in both the U.S. and China for drug development and financing." 

About EntreMedEntreMed, Inc. is a clinical-stage
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