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news.EntreMed, a clinical-stage pharmaceutical company, has reported a net loss of $1.73m for the fourth quarter ended December 31, 2009, compared to $2.54m for the same period in 2008.
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EntreMed has posted total revenues of $1.61m, compared to $3.97m for the same period in 2008.
For the fiscal year 2009, EntreMed has posted a net loss of $8.21m, compared to $23.86m for the year ago period. Total revenues were $5.28m for the 12 months, compared to $7.47m for the year ago period.
Michael Tarnow, executive chairman of the board at EntreMed, said: “In 2009, we continued to focus our resources on accelerating the clinical development of ENMD-2076. While maximizing our human and financial resources, we made excellent progress in our clinical program with ENMD-2076.
“Although we made good progress with the program, the current economic climate has been difficult to weather. We were able to secure additional capital in two separate registered direct offerings early this year, which will enable us to move forward with our clinical development plans for ENMD-2076.”