BioCentury
ARTICLE | Strategy

Genta says warning was necessary

August 19, 1996 7:00 AM UTC

Genta Inc. Chairman and CEO Thomas Adams said reports of GNTA's demise are premature, after the company's second quarter report noted that the company's $2.3 million in cash at June 30 would last only into September.

As is usually the case in such statements, GNTA said that it is in discussions with potential corporate partners and is actively seeking equity financing However, if such funding is unavailable, GNTA might have to sell or license certain of its assets and technology, and scale back its development programs and workforce. In addition, the company doesn't meet NASDAQ's net tangible asset criteria for listing on the National Market, which might delist the stock...