Navigation Links
Genta Incorporated Announces First Quarter 2008 Financial Results and Corporate Highlights
Date:5/8/2008

ock of $1.86 per share, resulting in a reduction in the provision of $1.6 million, recognized in the first quarter of 2007. At March 31, 2008, the revised estimated value of the common stock portion of the litigation settlement was $0.8 million, based on a closing price of Genta's common stock of $0.39 per share, resulting in a reduction in the provision of $0.3 million, recognized in the first quarter of 2008. The larger net loss in 2008 is primarily due to recognition of the tesetaxel license payments of $2.5 million, the lower reduction in provision for settlement of litigation of $1.3 million, and higher expenses resulting from the AGENDA clinical trial.

At March 31, 2008, Genta had cash, cash equivalents and marketable securities totaling $4.1 million compared with $7.8 million at December 31, 2007. In February 2008, the Company issued 6.1 million shares of its common stock at a price of $0.50 per share, raising approximately $3.1 million, before estimated fees and expenses. During the first three months of 2008, cash used in operating activities was $6.2 million compared with $9.8 million for the same period in 2007. Lower cash used in operating activities was primarily due to the timing of payments in the two respective periods.

In April 2008, the Company reduced its workforce by approximately 30% in order to conserve cash. Genta also announced that it would seek a buyer for its sole marketed product, Ganite(R). In a recent action, the Company has also terminated its license to c-myb antisense due to diminishing patent life.

The Company will maintain an appropriate level of spending over the upcoming fiscal year, given the uncertainties inherent in its business and its current liquidity position. However, absent additional funding, Genta will run out of funds in the second quarter of 2008. If the Company is unable to raise additional funds, it could be required to reduce its spending plans, reduce its workforce, license or sell assets or
'/>"/>

SOURCE Genta Incorporated
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8

Related biology technology :

1. Genta Announces Presentation of New Clinical and Preclinical Data on Genasense(R) at AACR-NCI-EORTC Targets Conference
2. Syngenta Licenses Chromatin Gene Stacking Technology
3. Genta Completes Appeal of FDA Decision for Genasense(R) in CLL
4. Genta Receives Notice of Non-Compliance with Listing Requirement for NASDAQ Global Market
5. Syngenta and The Royal Society of Chemistry Launch African Science Initiative
6. Genta Incorporated to Present at Lazard Capital Markets 4th Annual Healthcare Conference
7. Genta Receives NASDAQ Non-Compliance Notice
8. Genta Receives Notice of Non-Compliance With NASDAQ Rule
9. Genta Incorporated to Present at the BIO CEO & Investor Conference
10. Genta Announces Common Stock Offering of Approximately $3.1 Million
11. Genta Announces Senior Management Changes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/22/2014)... a way to create a highly sensitive chemical sensor ... imperfections have unique electronic properties that the researchers were ... molecules by 300 times. , The study is available ... . , Amin Salehi- Khojin, asst professor of mechanical ... graduate student and Bijandra Kumar, post doc where they ...
(Date:9/22/2014)... Jose, California (PRWEB) September 22, 2014 ... Chitin and chitosan are natural biopolymers available in ... extracted from easily available resources such as shells ... and chitosan is mainly due to the high ... cellulose. Chitosan finds application in various industries owing ...
(Date:9/22/2014)... Mich., Sept. 22, 2014  Neogen Corporation (Nasdaq: ... the first quarter of its 2015 fiscal year, which ... compared to net income of $7,839,000 in the first ... split effective Oct. 30, 2013, earnings per share in ... year ago. First quarter revenues increased 15% ...
(Date:9/22/2014)... , Sept. 22, 2014 Synageva ... ), a biopharmaceutical company developing therapeutic products for ... Robert Bazemore as Chief Operating Officer.  Reporting ... and Chief Executive Officer, Robert will oversee the ... program, sebelipase alfa for LAL Deficiency, and will ...
Breaking Biology Technology:Graphene imperfections key to creating hypersensitive 'electronic nose' 2Emergence of New Application Areas to Drive the Global Chitin and Chitosan Market, According to New Report by Global Industry Analysts, Inc. 2Emergence of New Application Areas to Drive the Global Chitin and Chitosan Market, According to New Report by Global Industry Analysts, Inc. 3Neogen reports 13% net income increase 2Neogen reports 13% net income increase 3Neogen reports 13% net income increase 4Neogen reports 13% net income increase 5Neogen reports 13% net income increase 6Neogen reports 13% net income increase 7Synageva BioPharma Appoints Robert Bazemore As Chief Operating Officer 2Synageva BioPharma Appoints Robert Bazemore As Chief Operating Officer 3Synageva BioPharma Appoints Robert Bazemore As Chief Operating Officer 4
... BEIJING , July 6 /PRNewswire-Asia-FirstCall/ ... the development, assembly, marketing and,sale of medical devices and homecare medical products ... sell 10,000 oxygen-chip units to,Beijing C&D Co., Ltd. for RMB11 million ... , , ...
... XIANYANG, China , July ... ) ("Biostar" or "the Company"), the,Xianyang-based manufacturer of a ... other pharmaceutical products, today,announced that Mr. Deyin "Bill" ... July 1, 2010 . Mr. Chen replaces Ms. ...
... ROCKVILLE, Md. , July 6 Novavax, Inc. ... Gregory Glenn , M.D., as the company,s Chief Scientific Officer ... and Chief Executive Officer of Novavax.  Previously, Dr. Glenn was ... an associate in international health at Johns Hopkins University,s ...
Cached Biology Technology:Dehaier Medical Systems Signs $1.6 Million Oxygen-Chip Sales Contract 2Dehaier Medical Systems Signs $1.6 Million Oxygen-Chip Sales Contract 3Dehaier Medical Systems Signs $1.6 Million Oxygen-Chip Sales Contract 4Biostar Pharmaceuticals, Inc. Appoints New Chief Financial Officer 2Biostar Pharmaceuticals, Inc. Appoints New Chief Financial Officer 3Novavax Announces Appointment of Dr. Gregory Glenn as Chief Scientific Officer 2Novavax Announces Appointment of Dr. Gregory Glenn as Chief Scientific Officer 3Novavax Announces Appointment of Dr. Gregory Glenn as Chief Scientific Officer 4
(Date:9/21/2014)... of children with autism are significantly less likely to ... than the mothers of children who are developing normally, ... Institute has found. , Low iron intake was associated ... child if the mother was 35 or older at ... suffered from metabolic conditions such as obesity hypertension or ...
(Date:9/21/2014)... immune T cells may have the ability to trigger ... study led by King,s College London. Although their immune ... may still be able to mount a strong immune ... Nature Medicine . , Our immune system is made ... neutrophils which play an important role in the frontline ...
(Date:9/19/2014)... A University of Oklahoma biology professor will study the ... analysis that could eventually benefit people,s health. The ... manage the energy required to produce the signals used ... generate electric signals at a rate of 500-600 discharges ... required for the electric fish are extreme, but necessary ...
Breaking Biology News(10 mins):Mothers of children with autism less likely to have taken iron supplements 2Immune system of newborn babies is stronger than previously thought 2
... Biological Sciences Research Council (BBSRC)-led Integrated Biorefining Research and ... which could be used to make biofuel production more ... Issue of the American Chemical Society journal Biochemistry ... the Universities of Warwick and British Columbia, could make ...
... Carolina State University have developed a new technique ... a computer,s ability to build computer models of ... algorithms used to build models of biological systems ... can account for uncertainty and biological variation. This ...
... Institute has won a four-year, $1.9 million grant from ... parasite that causes malaria, laying the groundwork to develop ... "Many antimalarial drugs alleviate symptoms, but do ... malaria parasites are able to persist asymptomatically in the ...
Cached Biology News:First wood-digesting enzyme found in bacteria could boost biofuel production 2New parallelization technique boosts our ability to model biological systems 2Scripps Research scientist wins $1.9 million grant to study malaria 2
Designed for use with the Agencourt SprintPrep 384 kit and all MCPrep reagent kits. Used with flat bottom 96-well microplates such as deep well plates used to culture bacteria....
ID clarifier: non-treated with lid...
... ClearSpin Filter is a novel disposable spin ... clarification of bacterial lysates in plasmid purification ... a novel, disposable spin filtration device especially ... lysates in plasmid purification procedures. The neutralized ...
... (or medium binding) polystyrene surface is ... through passive interactions,• Is suitable primarily ... such as antibodies, that have large ... the surface,• Binding capacity of approximately ...
Biology Products: