ROCKVILLE, Md., Oct. 15 /PRNewswire/ — EntreMed, Inc. (Nasdaq:
ENMD), a clinical-stage pharmaceutical company developing
therapeutics for the treatment of cancer, today announced that it
has received a letter from the NASDAQ Stock Market indicating that
it has regained compliance with the minimum $35 million Market
Value of Listed Securities (“MVLS”) requirement for continued
listing on the NASDAQ Capital Market as set forth in NASDAQ
Marketplace Rule 5550(b)(2).(Logo:
On August 17, the Company received a Staff Determination Letter
from NASDAQ stating that it was not in compliance with the rule
because its MVLS failed to meet the required $35 million minimum
for the last 30 consecutive business days. At that time, the
Company was granted 180 calendar days, or until February 14, 2011,
to regain compliance with the rule.
In order to regain compliance, the Company was required to
maintain a $35 million MVLS for a minimum of 10 consecutive
business days. In its October 13, 2010 notification, NASDAQ
provided written confirmation that EntreMed has regained compliance
with the rule and that this matter is now closed.
About EntreMedEntreMed, Inc. is a clinical-stage
pharmaceutical company committed to 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. 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 StatementsThis release contains