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During the presentation, Mr. Burns reiterated the development status of the Company's pipeline of multi-mechanism drugs for the treatment of cancer and inflammatory diseases. Remarks during the presentation were focused on corporate objectives as they relate to the status of multiple oncology clinical trials currently underway, the Company's partnering goals, and financial position. Highlights of the presentation are listed below.
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Corporate Highlights
Clinical Program Status
Mr. Burns commented on the update, "Increased royalty revenues and strategic cost reductions should place the Company in a position to weather the current market conditions into 2010. Aggressive partnering efforts for our Aurora/angiogenesis inhibitor, ENMD-2076, are underway, which will help accelerate development of this exciting compound and provide the financial resources to maintain our clinical development plan. These are difficult market conditions but we will continue to be resilient in our strategies. While our stock price has suffered, we have continued to make excellent clinical progress. I am confident in our pipeline of multi-mechanism drugs for cancer and inflammatory diseases and I believe that we remain on course to achieve our clinical and partnering milestones."
About EntreMed
EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. MKC-1, an oral cell-cycle regulator with activity against the mTOR pathway, is currently in multiple Phase 2 clinical trials for cancer. ENMD-2076, a selective angiogenic kinase inhibitor, and ENMD-1198, a novel antimitotic agent are in Phase 1 studies in advanced cancers. The Company also has an approved IND application for Panzem(R) in rheumatoid arthritis. EntreMed's goal is to develop and commercialize new compounds based on the Company's expertise in angiogenesis, cell cycle regulation, cell signaling and inflammation - processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. 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.
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 (including the timing of royalty revenues and future R&D expenditures), 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 those set forth in Securities and Exchange Commission filings under "Risk Factors," including risks relating to the need for additional capital and the uncertainty of additional funding; variations in actual sales of Thalomid(R), risks associated with the Company's product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
-- EntreMed, Inc. reported third quarter royalty revenues of approximately $3.5 million from sales of Thalomid(R). Royalty revenues for the full year 2008 are expected to increase over 2007 based on additional sales of Thalomid(R) resulting from Celgene's acquisition of Pharmion.
SOURCE EntreMed, Inc.
