BERKELEY HEIGHTS, N.J., Nov. 16 /PRNewswire-FirstCall/ -- Genta Incorporated (Nasdaq: GNTA) announced that it has received a Staff Determination letter from the NASDAQ Stock Market stating that the Company's common stock is subject to delisting from The NASDAQ Global Market because the Company does not comply with the requirement to maintain a minimum $10,000,000 value in stockholders' equity, as set forth in Marketplace Rule 4450(a)(3). The Company intends to provide a plan to NASDAQ Staff to resume compliance with the Marketplace Rule on or before November 27, 2007. However, the Company cannot make any representation that NASDAQ Staff will accept this plan. A delisting decision by NASDAQ Staff may be appealed to a NASDAQ Listing Qualifications Panel.
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 wi
|SOURCE Genta Incorporated|
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