Entremed (ENMD)

[Rocky I]

EntreMed Reports Third Quarter 2013 Financial Results




ROCKVILLE, Md., Nov. 14, 2013 - EntreMed, Inc. (ENMD), a
clinical-stage pharmaceutical company developing therapeutics for the
treatment of a variety of cancers, today reported financial results
for the three and nine-month periods ending September 30, 2013.

EntreMed reported a net loss for the third quarter of 2013 of ($1.4
million), or ($0.05) per share. This compares with a net loss of ($1.2
million), or ($0.05) per share, for the same period last year. For
the first nine months of 2013 the reported net loss was ($4.4
million), or ($0.17) per share as compared to ($14.2 million), or
($0.81) per share for 2012. The 2012 year to date reported net loss
included non-cash interest charges associated with our financing in
2012 ($10.0 million for the nine months ended September 30, 2012).
Excluding this non-cash interest, net loss for the first nine months
of 2012 was ($4.1 million), or ($0.23) per share.

As of September 30, 2013, EntreMed had cash and cash equivalents of
approximately $15.9 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 increased compared to the previous year primarily due to costs
associated with the Company's crossover bioavailability and food
effect study of ENMD-2076, along with the clinical development of
ENMD-2076 in China during 2013. 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
clinical trials in triple-negative breast cancer, soft tissue sarcoma
and ovarian clear cell carcinoma are underway in the US and Canada
with plans to expand the trials into China. At the same time, we
continue to seek additional drug candidates to add to our pipeline,
strengthen our internal development capabilities, and look forward to
continuing to execute our strategy and advance the company."