Interim analysis of Phase III data on Genta’s melanoma treatment, Genasense®, revealed that it did not meet one of its primary endpoints or any of the secondary endpoints that are evaluable at this time. The company has thus decided to postpone submission of an NDA this year.
Genta, already trading below $1, lost just over 81% of its value in early morning trading. After closing yesterday at $0.65, it opened today at $0.12....LINK
Genta still has one star drug rite?
ReplyDeleteI believe so. I really haven't had time yet to digest what today's news really means for Genta. They have other drugs in the pipeline but all you ever hear about is Genasense which has been butting heads with the FDA for years now. There's a thread on the Yahoo Finance board right now about another Phase 3 of GENASENSE is coming out maybe but I don't know if that's true or not. I didn't have a large stake in Genta, only a few hundred shares but I sure would have liked to have made some extra money with positive news today. As of now, I'm holding and waiting to see what news comes out during the next few days.
ReplyDeletethank youuuuu and good luck to us. I have 1.5k shares... ><" btw. are you in AVXT? why the volume is so low ?
ReplyDeleteYes, I'm in AVXT. I think its just a lack of news from them as we're in waiting mode:
ReplyDelete"The end of 2009, and beginning of 2010 should provide a rebirth for AVAX, boosting investor confidence as they begin to focus on the phase II and phase III clinical trials respectively."
http://www.stockshaven.com/avax-currently-pending-clinical-trials-news-for-its-pipeline-otcavxt-pk/
With stocks like AVXT, MCET, VRAL and even HTDS we just have to wait until we know more.