Genta Incorporated Announces Fourth Quarter and Year End 2007 Financial Results and Corporate ...(o shown clinical activity in a rangeof s...),Health

Date:3/12/2008

o shown clinical activity in a range of skeletal diseases, including bone metastasis, Paget's disease and osteoporosis. An oral dosing regimen offers the potential to exploit the advantages of this compound, which include broad potential activity and convenient administration.

Tesetaxel

Tesetaxel, an oral taxane that is the latest addition to the Genta oncology portfolio, was recently obtained via in-licensing of its worldwide rights. Tesetaxel was specifically developed to avoid key problems associated with other taxanes (such as paclitaxel [Taxol(R); Bristol Myers Squibb] and docetaxel [Taxotere(R); sanofi Aventis]), including severe infusion reactions, peripheral neuropathy, and acquired drug resistance. More than 250 patients worldwide have received tesetaxel, and the drug has demonstrated anticancer activity in several clinical trials. Due to the occurrence of several fatalities related to neutropenia, the drug is currently on clinical hold in the U.S. Based upon guidance from FDA, Genta has worked with the former sponsor to develop a strategy that is intended to lift the clinical hold, thereby enabling clinical testing to resume. If further studies document efficacy and safety, tesetaxel offers substantial opportunities to improve convenience, safety, and activity for patients who are currently receiving conventional taxanes.

C-myb Antisense

An antisense drug directed against c-myb, a master regulatory proto- oncogene, is the Company's earliest stage clinical program. In 2007, a new dose-ranging Phase 1 trial of c-myb antisense was initiated at the University of Pennsylvania. The trial is currently open to accrual and is expected to be completed later this year after identification of the MTD.

Financial Information

The Company reported a net loss of $1.7 million or $0.06 per share for the fourth quarter of 2007, compared with a net loss of $17.3 million or $0.68 per share for the fourth quarter of 2006. For the year en
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