BERKELEY HEIGHTS, NJ - October 26, 2007
- Genta Incorporated (NASDAQ: GNTA) announced today that Dr. Betsy
McCaughey has submitted her resignation from the Company's Board of
Directors. Dr. McCaughey has served on the Board since 2001.
"As a noted author and health policy expert, we appreciate Betsy's
commitment to mobilizing the response to reduce hospital infections
from multiply resistant organisms, along with her increasing
involvement in the national political discourse about healthcare
reform," said Dr. Raymond P. Warrell, Jr., Chairman and Chief
Executive Officer. "On behalf of all Genta Board
members, we wish her success in these endeavors, and we are
grateful for her years of counsel and service to our Company."
About Genta
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. The Company's research platform is anchored by two
major programs: DNA/RNA-based Medicines and Small Molecules.
Genasense® (oblimersen sodium) Injection is the Company's lead
compound from its DNA/RNA Medicines program. Genta is
currently recruiting patients for a global Phase 3 trial of
Genasense in patients with advanced melanoma. The leading
drug in Genta's Small Molecule program is Ganite® (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 an oral formulation of the active ingredient in Ganite
that is currently undergoing initial clinical trials as a potential
treatment for diseases associated with accelerated bone loss.
Genta is partnered with IDIS (www.idispharma.com) on a program
whereby both Ganite® and Genasense® are available on a
"named-patient" basis in countries outside the United States.
For more information about Genta, please visit our website at:
www.genta.com.
Safe Harbor
This press release may contain forward-looking statements
with respect to business conducted by Genta Incorporated. By
their nature, forward-looking statements and forecasts involve
risks and uncertainties because they relate to events and depend
on circumstances that will occur in the future.
Forward-looking statements include, without limitation,
statements about:
-
the Company's ability to obtain necessary regulatory
approval for Genasense® from the U.S. Food and Drug
Administration ("FDA") or European Medicines Agency
("EMEA");
-
the safety and efficacy of the Company's products or
product candidates;
-
the Company's assessment of its clinical trials;
-
the commencement and completion of clinical trials;
-
the Company's ability to develop, manufacture, license and
sell its products or product candidates;
-
the Company's ability to enter into and successfully
execute license and collaborative agreements, if any;
-
the adequacy of the Company's capital resources and cash
flow projections, and the Company's ability to obtain
sufficient financing to maintain the Company's planned
operations;
-
the adequacy of the Company's patents and proprietary
rights;
-
the impact of litigation that has been brought against the
Company and its officers and directors and any proposed
settlement of such litigation;
-
the Company's ability to retain compliance with the
NASDAQ's listing qualifications; and
-
the other risks described under Certain Risks and
Uncertainties Related to the Company's Business, as contained
in the Company's Annual Report on Form 10-K and Quarterly
Report on Form 10-Q.
The Company does not undertake to update any forward-looking
statements. There are a number of factors that could
cause actual results and developments to differ materially.
For a discussion of those risks and uncertainties, please see the
Company's Annual Report on Form 10-K for 2006 and its most recent
quarterly report on Form 10-Q.
CONTACT:
Brian Korb
The Trout Group
908-286-3980
