BERKELEY HEIGHTS, N.J., March 20 /PRNewswire-FirstCall/ -- Genta Incorporated (Nasdaq: GNTA) announced today that in its 2007 financial statements included in the Company's Annual Report on Form 10-K, the auditor's opinion contained a "going concern" qualification. NASDAQ's marketplace rules require NASDAQ-listed companies to publicly announce the receipt of an audit opinion containing a "going concern" qualification.
Genta Incorporated is a biopharmaceutical company with a diversified
product portfolio that is focused on delivering innovative products for the
treatment of patients with cancer. Two major programs anchor the Company's
research platform: DNA/RNA-based Medicines and Small Molecules.
Genasense(R) (oblimersen sodium) Injection is the Company's lead compound
from its DNA/RNA Medicines program. Genta is currently recruiting patients
to the AGENDA Trial, a global Phase 3 trial of Genasense in patients with
advanced melanoma. The leading drug in Genta's Small Molecule program is
Ganite(R) (gallium nitrate injection), which the Company is exclusively
marketing in the U.S. for treatment of symptomatic patients with cancer
related hypercalcemia that is resistant to hydration. The Company has
developed G4544, an oral formulation of the active ingredient in Ganite,
that has recently entered clinical trials as a potential treatment for
diseases associated with accelerated bone loss. The Company is also
developing tesetaxel, a novel, orally absorbed, semi-synthetic taxane that
is in the same class of drugs as paclitaxel and docetaxel. Ganite and
Genasense are available on a "named-patient" basis in countries outside the
United States. For more information about Genta, please visit our website
|SOURCE Genta Incorporated|
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