EntreMed Reports Third Quarter 2012 Financial Results

            EntreMed Reports Third Quarter 2012 Financial Results

PR Newswire

ROCKVILLE, Md., Nov. 14, 2012

ROCKVILLE, Md., Nov. 14, 2012 /PRNewswire/ --EntreMed, Inc. (Nasdaq: ENMD), a
clinical-stage pharmaceutical company developing therapeutics for the
treatment of cancer, today reported financial results for the three and
nine-month periods ending September 30, 2012.

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

EntreMed reported a net loss for the third quarter of 2012 of ($1.2 million),
or ($0.05) per share. This compares with a net loss of ($1.3 million), or
($0.13) per share, for the same period last year. For the first nine months
of 2012 the net loss, excluding non-cash interest expense, was ($4.1 million),
or ($0.25) per share as compared to ($5.6 million), or ($0.54) per share for
2011. The 2012 reported net loss for the nine months ended September 30, 2012
included non-cash interest charges totaling $10.0 million associated with our
Strategic Financing, recorded in accordance with US generally accepted
accounting principles. Including the non-cash interest expense, the reported
net loss for the nine months ended September 30, 2012 was ($14.2 million), or
($0.81) per share.

As of September 30, 2012, EntreMed had cash and cash equivalents of
approximately $8.8 million.

Sara B. Capitelli, EntreMed's Vice President, Finance & Principal Accounting
Officer, commented on the third quarter results, "Our financial results for
the third quarter are in line with our expectations. Our research and
development expenses for the third quarter decreased compared to the previous
year as we completed enrollment of patients in the ENMD-2076 Phase 2 ovarian
cancer study in 2011, in addition to a decrease in personnel costs in 2012.
We anticipate fourth quarter operating expenses to increase as we execute on
our clinical development plan in the US and China."

Dr. Ken Ren, EntreMed's Chief Executive Officer, further commented, "We are
pleased with the progress made in the third quarter. Our China office is fully
operational with local activities in full swing. Our triple-negative breast
trial is continuing to enroll patients and we are in various stages of
assessing and planning additional trials for ENMD-2076. We are encouraged by
our prospects and look forward to continuing to execute our global clinical
development strategy."

About EntreMed

EntreMed, Inc. is a clinical-stage pharmaceutical company employing a drug
development strategy primarily in the United States and China to develop
targeted therapeutics for the global market. Its lead compound, ENMD-2076, a
selective angiogenic kinase inhibitor, has completed several Phase 1 studies
in solid tumors, multiple myeloma, and leukemia, and is currently completing a
multi-center Phase 2 study in ovarian cancer. EntreMed, Inc. recently
initiated a dual-institutional Phase 2 study of ENMD-2076 in triple-negative
breast cancer. 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 (the SEC).

About ENMD-2076

ENMD-2076 is an orally-active, Aurora A/angiogenic kinase inhibitor with a
unique kinase selectivity profile and multiple mechanisms of action. ENMD-2076
has been shown to inhibit a distinct profile of angiogenic tyrosine kinase
targets in addition to the Aurora A kinase. Aurora kinases are key regulators
of mitosis (cell division), and are often over-expressed in human cancers.
ENMD-2076 also targets the VEGFR, Flt-3 and FGFR3 kinases which have been
shown to play important roles in the pathology of several cancers. ENMD-2076
has shown promising activity in Phase 1 clinical trials in solid tumor
cancers, leukemia, and multiple myeloma. ENMD-2076 is currently completing a
Phase 2 trial for ovarian cancer. EntreMed, Inc. recently initiated a
dual-institutional Phase 2 study of ENMD-2076 in triple-negative breast
cancer.

Forward Looking Statements

This 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: 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; the difficulty
of executing our business strategy in China; our inability to enter into
strategic partnerships for the development, commercialization, manufacturing
and distribution of our proposed product candidate; risks relating to the need
for additional capital and the uncertainty of securing additional funding on
favorable terms; declines in actual sales of Thalomid^® resulting in reduced
royalty payments; risks associated with our product candidates; any
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; the lack of success in the clinical development of any of our
products; dependence on third parties; and risks relating to the
commercialization, if any, of our proposed products (such as marketing,
safety, regulatory, patent, product liability, supply, competition and other
risks). Such factors, among others, could have a material adverse effect upon
our business, results of operations and financial condition. We caution
readers not to place undue reliance on any forward-looking statements, which
only speak as of the date made. Additional information about the factors and
risks that could affect our business, financial condition and results of
operations, are contained in our filings with the U.S. Securities and Exchange
Commission ("SEC"), which are available at www.sec.gov.

COMPANY CONTACT:
Investor Relations
EntreMed, Inc.
240.864.2643
investorrelations@entremed.com



(Financial Table Attached)



ENTREMED, INC.
SUMMARY OF OPERATING RESULTS
(Unaudited)
Three Months Ended September 30,
                                                                             2012           2011
Total revenues                             $ 0            $ 0
Research and development                                     623,092        703,456
General and administrative         564,626        556,601
Interest Expense                                   0              0
Net loss              (1,187,718)    (1,308,377)
Net loss per share (basic and diluted)              $ (0.05)       $ (0.13)
attributable to common shareholders
Weighted average number of shares outstanding                      22,503,393     12,004,435
(basic and diluted)
Nine Months Ended September 30,
                                                                             2012           2011
Total                                                                      $ 0            $ 8,852
revenues
Research and development                                  1,880,629      3,051,437
General and administrative              2,262,874      2,529,604
Interest Expense     10,041,292     0
Net                                                                          (14,184,795)   (5,563,016)
loss
Net loss per share (basic and diluted)                       $ (0.81)       $ (0.54)
attributable to common shareholders
Weighted average number of shares outstanding                        17,897,231     11,654,078
(basic and diluted)
Cash and cash equivalents                         $ 8,812,133    $ 1,986,165



SOURCE EntreMed, Inc.

Website: http://www.entremed.com
 
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