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Listings News: EntreMed Complies With NASDAQ

July 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — EntreMed, Inc. (NASDAQ: ENMDD) said it has received a letter from the NASDAQ Stock Market stating that the company has regained compliance with the $1 minimum closing bid price requirement and that, accordingly, it has determined to continue the listing of EntreMed's common stock on the NASDAQ Capital Market.

Previously, EntreMed had been notified by the NASDAQ Stock Market that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1 or more for 30 consecutive business days.

In order to regain compliance with the rule, the company was required to maintain a minimum closing bid price of $1 or more for at least 10 consecutive trading days. This requirement was met on July 15, 2010, the tenth consecutive trading day when the closing bid price of the company's common stock was over $1.

Maryland-based EntreMed is a clinical-stage pharmaceutical company focused on developing ENMD-2076, a selective angiogenic kinase inhibitor, for the treatment of cancer.

ENMD-2076 is currently in a multi-center Phase 2 study in ovarian cancer and in several Phase 1 studies in solid tumors, multiple myeloma, and leukemia.

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