Boston, MA 06/04/2013 (wallstreetpr) – The share prices of EntreMed Inc. (NASDAQ:ENMD) had surged by 17.78 percent to close at $2.12 per share for the end of last trading session on Monday. The shares of the clinical stage pharmaceutical company had been trading in the range of $$1.80 to $2.38 per share during the day. The shares of EntreMed Inc. (NASDAQ:ENMD) had recorded 52 week high price levels of $3.73 per share and 52 week low price level of $1.23 per share.
EntreMed Inc. (NASDAQ:ENMD) is presently developing its drug candidate ENMD 2076, which is an Aurora A and angiogenic kinase inhibitor to be used for the treatment of cancer. The drug had presently Phase I studies with trials in patients with leukemia, multiple myeloma and advanced solid tumors. Further, ENMD 2076 is in the stage of completing Phase II students in patients with platinum resistant ovarian cancer.
Patent for cancer drug
The cancer treatment drug candidate of EntreMed Inc. (NASDAQ:ENMD), ENMD 2076 had recently been granted patents in the People’s Republic of China issued by the Chinese State Intellectual Property Office of Patents. The issued patent to the drug would thereby cover the composition of matter and its uses to treat various forms of cancer in patients.
The shares of EntreMed Inc. (NASDAQ:ENMD) had been witnessing heavy trading volumes on Monday with nearly 350,325 shares being exchanged hands, while the average trading volume of the company is at 51,660 shares per day. The pharmaceutical company presently holds 27.02 million shares outstanding with an institutional ownership of 13 percent.
