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EntreMed Reports Fourth Quarter And Year-End 2012 Financial Results And Business Outlook For 2013
Date:3/21/2013

xpectations. Our research and development expenses for the fourth quarter increased compared to the previous year as we began operations in China in 2012 and also initiated a dual-institutional Phase 2 study of ENMD-2076 in triple-negative breast cancer.  We anticipate operating expenses to increase in 2013 as we execute on our clinical development plan in the US and China.  Royalty revenues from Celgene's sales of Thalomid® in 2012 were $0.7 million, compared to $1.9 million in 2011.  The decrease in royalty revenues was in line with our expectations and results from a decline in sales of Thalomid® in the United States."  Further up-to-date information regarding the Company, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2012, can be found on our web site at www.entremed.com.

Dr. Ken Ren , Chief Executive Officer, commented, "We are pleased with our financial results for the year and quarter ended December 31, 2012, which reflect our success in reducing operating costs and at the same time reflect new costs for implementing new programs, including initiating our Phase 2 triple-negative breast trial at two US sites, establishing our office in Beijing, initiating local manufacturing activities in China, and the filing of a new clinical trial application with the Chinese SFDA.  Since the year ended, we also initiated a Phase 2 clinical trial in advanced metastatic soft tissue sarcoma at Princess Margaret Hospital in Canada.  We are pleased with our recent financing and the support and encouragement from new institutional shareholders from both the US and China.  We intend to use the proceeds to further the global clinical development of ENMD-2076 and for general business development and corpo
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SOURCE EntreMed, Inc.
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