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EntreMed Reports Second Quarter 2013 Financial Results
Date:8/14/2013

ROCKVILLE, Md., Aug. 14, 2013 /PRNewswire/ -- EntreMed, Inc. (NASDAQ: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of a variety of cancers, today reported financial results for the three and six-month periods ended June 30, 2013. 

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EntreMed reported a net loss for the second quarter of 2013 of ($1.9 million), or ($0.07) per share. This compares with a net loss of ($10.5 million), or ($0.56) per share, for the same period last year.
For the first six months of 2013 the reported net loss was ($3.0 million), or ($0.12) per share as compared to ($13.0 million), or ($0.86) per share for 2012.  The 2012 net loss was primarily attributed to non-cash interest charges associated with our financing in 2012 ($9.2 million and $10.0 million for the three and six months ended June 30, 2012, respectively).  Excluding this non-cash interest, net loss for the second quarter and first six months of 2012 was ($1.3 million), or ($0.07) per share and ($3.0 million) or ($0.19) per share, respectively.

As of June 30, 2013, EntreMed had cash and cash equivalents of approximately $17.2 million.

Sara B. Capitelli, EntreMed's Vice President, Finance & Principal Accounting Officer, commented on the second quarter results, "Our second quarter 2013 financial results were in line with expectations.  Our research and development expenses for the second quarter increased compared to the previous year due to costs associated with the clinical development of ENMD -2076 in the U.S. and China during 2013.  Our general and administrative expenses for the second quarter of 2013 increased compared to
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SOURCE EntreMed, Inc.
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