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Genta Incorporated Announces First Quarter 2008 Financial Results and Corporate Highlights

BERKELEY HEIGHTS, N.J., May 8 /PRNewswire-FirstCall/ -- Genta Incorporated (OTC Bulletin Board: GNTA) today announced financial results for the quarter ended March 31, 2008. From the beginning of the year, the Company has recorded significant milestones including the following:

-- AGENDA Phase 3 trial passes initial DSMB

-- Oral G4544 for bone disease completes single dose-trial in 505(b)(2)


-- Tesetaxel in-licensed -- leading oral taxane and new clinical-stage


-- FDA provides regulatory guidance for Genasense in CLL

-- Company restructures to conserve cash

-- Genta will seek buyer for Ganite and terminates c-myb antisense program

"Genta has successfully diversified with three high-value clinical-stage products in our portfolio," noted Dr. Raymond P. Warrell, Jr., Genta's Chairman and Chief Executive Officer. "The Phase 3 trial of Genasense in melanoma has now enrolled more than 25% of its target, we expect accrual completion this year, and positive results should enable worldwide regulatory filings in 2009. During the quarter, FDA provided substantial guidance on the development of each of our compounds. With G4544, an internally developed compound for skeletal diseases, we have the opportunity to submit a NDA for a product via a streamlined 505(b)(2) regulatory strategy. Our in-licensing of worldwide rights to tesetaxel has provided us with a leading oral taxane that addresses a very large and well-characterized market. This portfolio includes unique compounds that offer significant partnering opportunities to accelerate their development."

Highlights and updates of the Genta programs appear below.

Genasense: The Leading Antisense Drug in Clinical Development

Genasense in Melanoma: Genta is currently enrolling patients with advanced melanoma in a randomized Phase 3 trial of Genasense plus chemotherapy, known as AGENDA. The study is designed to c

SOURCE Genta Incorporated
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