Genta (company)
 | |
| Industry | Biotechnology |
|---|---|
| Headquarters | Berkeley Heights, New Jersey |
| Website | www.genta.com |
Genta Inc. was a biopharmaceutical company based in Berkeley Heights, New Jersey, United States, which developed products for the treatment of patients with cancer. In August 2012, the company filed for bankruptcy.
Products
Its products included:
- Genasense (development stage anticancer oblimersen sodium injection) [1]
- Tesetaxel (development stage anticancer oral tubulin inhibitor)
- Ganite (Genta's only U.S. Food and Drug Administration (FDA) approved drug, is a gallium nitrate injection for treatment of cancer-related hypercalcaemia)
Financial record
In addition to financing agreements with institutional investors, through its history, Genta Inc., like most listed unprofitable development stage start ups, has made reverse stock splits and stock dilution in order to get financial resources and stay afloat. For example, in July 2009, the company implemented a reverse stock split, which replaced 50 old shares with one new share.[2]
On July 9, 2008, the NASDAQ Stock Market announced that it will delist the common stock of Genta Incorporated. Genta Incorporated's stock was suspended on May 6, 2008, and has not traded on NASDAQ since that time. NASDAQ will file a Form 25 with the Securities and Exchange Commission to complete the delisting. The delisting becomes effective ten days after the Form 25 is filed. Currently, Genta stock is trading on the OTC Pink Sheets.
References
- ↑ Feuerstein, Adam (October 29, 2009). "Genta Melanoma Drug Study Disappoints: BioBuzz". TheStreet.com. Retrieved 10 January 2010.
- ↑ "Genta Implements Reverse Stock Split New Trading Symbol is "GETA"". Press Release. Genta Inc. July 13, 2009. Retrieved 10 January 2010.
- FISHER, LAWRENCE M. (August 15, 1996). "Genta Warns That It Will End Operations if It Cannot Raise Funds". The New York Times. Retrieved 10 January 2010.
- "Genta falls as drug approval delayed". The Scotsman. 4 June 2002. Retrieved 10 January 2010.
- Chang, Althea (December 15, 2006). "FDA Rejects Genta Drug". TheStreet.com. Retrieved 10 January 2010.
- "Anticancer drug, created at Penn, nears approval, The drug, made by Genta, could bring tens of millions a year in royalties for the school. An FDA hearing is set for Monday". The Philadelphia Inquirer. April 30, 2004. pp. C01 Business. Retrieved 10 January 2010.