Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate ... (ram. IND Filed with FDA to Enable Cli...)

Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights

Date:8/19/2007

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IND Filed with FDA to Enable Clinical Testing of New Oral Drug for Bone Disease

In August 2007, the Company filed an Investigational New Drug Exemption (IND) with the FDA's Division of Endocrinologic and Metabolic Drugs for a newly formulated compound, known as G4544. Developed out of a joint collaboration with Emisphere Technologies, Inc., G4544 is a new tablet formulation that enables oral absorption of the active ingredient contained in Ganite. This compound is a highly potent inhibitor of calcium release from bone. Diseases associated with accelerated bone loss include hypercalcemia, bone metastases, Paget's disease and osteoporosis. Genta currently intends to manage the clinical development process of oncology indications and to seek a development and commercial partner for non-malignant metabolic bone diseases. Assuming regulatory concurrence with the IND plan to establish bioequivalence with the FDA-approved parenteral product, Genta expects to initiate the initial clinical trial of G4544 in the second half of 2007.

Stock Trading and Capital Structure

In July, Genta was notified by NASDAQ that the Company has demonstrated compliance with all NASDAQ Marketplace rules. As a consequence, the NASDAQ Listings Qualifications Panel determined that Genta's common stock will continue to be listed on the NASDAQ Global Market. As part of the plan to establish compliance, Genta stockholders approved a one-for-six reverse split of the Company's shares of common stock, which reduced the number of outstanding shares to approximately 31 million. The Company's common stock temporarily trades under the symbol "GNTAD". On or about August 10, 2007, the Company expects that the common stock will resume trading under its former symbol, "GNTA".

Financial Information

All share and per share data included in this press release have been retroactively adjusted to account for the effect of the 1-for-6 reverse stock split on July 13, 2007. The Co
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