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Prospector
Profile
3-28-005
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| Genta Incorporated |
NAICS |
325414 |
| 200 Connell Drive,
Berkeley Heights, NJ 07922 |
Description |
Biological Product Mfg. |
| (908) 286-9800 |
Employees |
47 |
| http://www.genta.com |
Revenue |
(mil) |
0.5800 |
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Income |
(mil) |
-23.3200 |
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Assets |
(mil) |
29.2900 |
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Liability |
(mil) |
26.3600 |
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(for the year ended 2007-12-31) |
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Category:
Audit Concerns
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Event:
Deloitte & Touche LLP raised substantial doubt about the ability of Genta Incorporated to continue as a going concern after it audited the Company's financial statements for the year ended December 31, 2007. The auditing firm pointed to the Company's recurring losses from operations and negative cash flows from operations. The Company posted a net loss of $23,320,000 on total revenues of $580,000 for the year ended December 31, 2007, as compared with a net loss of $56,781,000 on total revenues of $708,000 in the prior year. At December 31, 2007, the Company's balance sheet showed $29,293,000 in total assets, $26,362,000 in total liabilities and $2,931,000 in stockholders' equity.
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Intellectual Property:
The Company owns or licenses several patents and applications to numerous aspects of oligonucleotide technology, including novel compositions of matter, methods of large-scale synthesis, methods of controlling gene expression and methods of treating disease. The Company's patent portfolio includes approximately 65 granted patents and 66 pending applications in the U.S. and foreign countries. The Company seeks appropriate U.S. and foreign patent protection on its oligonucleotide technology. [SEC Filing 10-K 03-17-08]
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Description:
Genta Incorporated engages in the identification, development and commercialization of drugs for the treatment of cancer and related diseases in the United States.
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Officers:
Raymond P. Warrell, Jr.(Chair, CEO & Dir.); Gary Siegel (VP-Finance); Martin J. Driscoll (Dir.); Christopher P. Parios (Dir.); Daniel D. Von Hoff, M.D. (Dir.); Douglas G. Watson (Dir.)
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Auditor:
Deloitte & Touche LLP
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Securities:
Common Stock Symbol GNTA; NasdaqGM; 36,740,558 common shares outstanding as of March 7, 2008.
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