DALLAS, Feb. 23, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Genta Inc. (OTCBB:GETA). The report includes financial, comparative and investment analysis, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/GETA
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Genta Inc. (GETA) is a biopharmaceutical company engaged in pharmaceutical (drug) research and development. The Company focuses on the identification, development and commercialization of drugs for the treatment of cancer and related diseases. GETA's research portfolio consists of two major programs: Deoxyribonucleic Acid (DNA)/Ribonucleic Acid (RNA) Medicines and Small Molecules. The DNA/RNA Medicines program includes drugs that are based on using modifications of either DNA or RNA as drugs that can be used to treat disease.
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In the report, the analyst notes:
"For the third quarter of 2009, the Company reported a net loss of $20.4 million or $(0.15) per share, compared with net income of $212.6 million, or $289.23 per basic share and $5.12 per diluted share, for the third quarter of 2008. For the nine months ended September 30, 2009, the Company reported a net loss of $74.6 million, or $(0.98) per share, compared with a net loss of $535.4 million, or $(748.55) per share, for the nine months ended September 30, 2008.
"In mid February GETA announced that it has received $2.8 million in non-dilutive cash proceeds from the sale of net operating tax losses and research tax credits generated in prior tax years as part of the Technology Business Tax Certificate Program sponsored by the New Jersey Economic Development Authority (NJEDA), pursuant to the rules, regulations and stipulations set forth by the program. This program, which focuses on biotechnology and other research-based companies, is designed to attract and retain knowledge-intensive businesses that will enhance the State's strategic and competitive interests in these areas."
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