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It's better to listen to the facts, Jeffry...
...than some internet poster. People here are following some posters here like they're Warren Jessup.
It's also very important...
...for people to remember something. When someone is giving you a specific time in the day to BUY a stock, that means they're ready for you to drive it up so that they're ready to sell at the same time.
I can't believe what a joke this is.
That's fine, so long as people realize that you're saying one thing and the company is saying the complete opposite. When people start listening to internet posters instead of the company, they're going to have a problem.
cdnkid says: "We have 23 MILLION DOLLARS TO SPEND!!!! THIS IS INCREDIBLE!!!! THIS COMPANY HAS BEEN IN BUSINESS FOR 20 YEARS!!!! ROTFLMAO!!!!!"
Genta Incorporated says: "Our operations to date have required significant cash expenditures. Prior to completion of this offering, we have less than two months operating cash remaining. Presently, with no further financing, we will run out of funds in the first quarter of 2009. We currently do not have any additional financing in place."
http://www.sec.gov/Archives/edgar/data/880643/000095012309004228/y01236a1sv1za.htm (bottom of page 13)
So, go ahead guys. Pick your poison. Some random internet poster or the words from the lips of the company.
Further, you'll be happy to know that I'm completely done with this. I'll leave you people to make your own informed decisions with your own money. Good luck to everyone.
Have a ball.
(applause as he leaves)
I'm just telling you AGAIN...
...exactly what the company is telling you.
Everyone Read:
When a certain individuals continually use words like AMAZING!!!! INCREDIBLE!!!! WE'LL BE RICH!! OMG!!! You need to realize that they are trying to take you for all you're worth. That's #1.
When I heard no news on new investors following the 2009 BIO CEO Investors Conference in early to mid-February, and started to see the light that the majority of people were hoping on Genasense approval in the treatment of CLL, we'll...I saw the writing on the wall. I told you this would happen. You had the chance to get out. Nearly 2 full days, but you held. That was your choice.
Now the company is completely out of money with no investors in sight, as per their presentation at the 2009 conference and their S-1. Why some people continue to say the opposite from what the company is telling you POINT BLANK is beyond me. I guess some people are really big dreamers.
Slide on financials from the END OF QUARTER 3 2008 (6 months ago...they're really broke). You'll also notice that this company conveniently removed this slide from their corporate presentation deck on their website.
FROM THE S-1 that was released a few days ago after Genasense denial from the FDA.
Our business will suffer if we fail to obtain timely funding.
Our operations to date have required significant cash expenditures. Prior to completion of this offering, we have less than two months operating cash remaining. Our future capital requirements will depend on the results of our research and development activities, preclinical studies and clinical trials, competitive and technological advances, and regulatory activities of the FDA and other regulatory authorities. In order to commercialize our products, seek new product candidates and continue our research and development programs, we will need to raise significant additional funds irrespective of market conditions.
If we are unable to raise additional funds, we will need to do one or more of the following:
• delay, scale back or eliminate some or all of our research and product development programs;
• license third parties to develop and commercialize products or technologies that we would otherwise seek to develop and commercialize ourselves;
• attempt to sell our company;
• cease operations; or
• declare bankruptcy.
Presently, with no further financing, we will run out of funds in the first quarter of 2009. We currently do not have any additional financing in place. If we are unable to raise additional financing, we could be required to reduce our spending plans, reduce our workforce, license to others products or technologies we would otherwise seek to commercialize ourselves and sell certain assets. There can be no assurance that we can obtain financing, if at all, on terms acceptable to us.
http://www.sec.gov/Archives/edgar/da...236a1sv1za.htm
I mean, they're screaming at investors, WE DON'T HAVE ANY MONEY! Yet some people continue to buy into the hype. Don't believe the hype. You're going to lose it all without additional funding.
Show me the money, Genta, and I'll get another position...but I'm not about to throw my money off the cliff with you.
Yes, that's why the company leadership called the response disappointing. Yeah, it's great news the FDA wants them to conduct a brand new clinical study that will cost millions upon millions of dollars. That's GREAT news!
Nice spin.
That's before I realized the magnitude of people who were in this stock for CLL approval.
I was right to get out because I saw this crash coming. Some people, were not and said that the pps already had CLL DENIAL baked into it (and don't let anyone fool you, this drug was DENIED).
Those assumptions on others parts were wrong. The news came out after hours, this stock plummeted on the very next trading day and people lost a significant portion of their investment by listening to misdirected guidance.
Why people continue to listen to those who cost them money on a 30% plummet is beyond me.
Yeah, that or they can't afford...
...to send a PR letting everyone know they are living on the street...which nearly happened as everyone knows. Thank god the landlord cut them some slack so they could keep the lights on! NO JOKE! LOL
When/If they do, that's when you should buy...
...not now when they are clearly broke. Smart money will take their chips out until they hear funding news. Otherwise, this company is going BK. Period.
They are broke.
Nothing has changed...
...i'm not stupid enough to watch my investment go down the drain while Genta drags its feet announcing funding or partnership. That's stupid! I love the drugs in the pipeline...I do, that hasn't changed. I'll put my money back in here when this company proves to me it can carry forward. Right now, there is no money left to bring those drugs to market. NONE.
Sure...
...during the presentation at the 2009 investors conference, Genta provided financial data on its operations as of Q3 2008. They had a little over 8 million dollars with a burn rate of over 2 million per month. Smartly, Genta removed this slide from the corporate presentation on their website. Go see for yourself. I'll see if I can track down the presentation online somewhere...I'm sure someone has it.
They're promising drugs...
...but Genta isn't going to give them away and it's a long way to go before either of these ever see the street. At a burn rate of over 2 million dollars per month (yes, it's over 2 million...don't let cdnkid mislead you) those drugs are incomplete and won't be complete without money. I'm sorry man, that's the way it is.
Don't be the horse with the carrot dangled in front of its face.
All for good reason...
1) FDA Rejection
2) No money
Vawedo and jv...
The investing of money by the owners was done back in June 2008 when they were trying to build investor confidence and stabilize a plummeting stock price. Not only that, but it was likely a stipulation of the deal that financiers required in order to move ahead with funding (put some skin in the game). Things were different then. There was an NDA on the table and everyone was hoping the drug would be approved based upon the analytical results, even oncologist professionals across the world. It didn't happen. The stock plummeted down to subpenny, investors bailed, there is nothing left...NOTHING...in the way of money to continue operations.
A common mistake for new stock traders, and a common spin more seasoned pumpers use, is "you don't have a paper loss until you sell!", suckering in newbies. Let me tell you new investors something...it can and WILL get worse than a 50% loss and it won't recover until detailed information on non-dilutive financing is available.
Genta is out of money. You can't run a business...certainly not one with over 2 million dollars per month in burn rate, without money. It just can't happen.
Again, get out now and save your investment...reinvest it when you hear news of financing. You're going to be beaten down to nothing.
That's advice through months of DD...
...alright man, do what you want. I don't care if you lose your money. It'll be a good lesson for you and others.
BAC hasn't even caught fire yet...
...when Q1 financials are released, this thing is going to start its engines. The rocket ride begins in Q3.
This stock will be in really bad shape...
...by the end of the week without a financial plan PR from the company.
The wise thing to do here is take your chips OFF THE TABLE until you hear otherwise. You'll be able to get back in soon enough if PR is released, in the meantime, you're losing money while Genta leadership scrambles to come up with millions more in non-dilutive financing just to keep the lights on, let alone run clinical trials.
My advice: Get out until you hear word on financing.
LOL..okay...
...this stock is DOWN 30% and you want to spin it into something positive. Here's the bottom line, nutriman.
#1 - The prior CLL decision was not baked into the previous pps at .0086 like you said it was. That's the reason I got out. You stayed in, you were wrong then and you're wrong now. Over a 30% collapse at the bell this morning on huge volume.
#2 - Buying pressure...well, there is none. That's why the MM's keep dropping the ask price to come down and meet the few buyers remaining. This trend won't reverse until news of any kind of funding comes along.
6 months until Agenda Trial data results are available at the earliest.
We need to hear something on the financial front before this does anything but gravitate back towards zero.
LOL, you can't be serious, nutriman...
...this stock is down over 30% today on the FDA decision. You said it wouldn't go down at all. I told you that it would, in fact it hit .0049 this morning. I was right again and you were wrong.
I expect this to continue to fall into the weekend.
I'm still waiting on the bottom and we aren't even close, my friend.
Guys, I hate to say it, but...
...short-term, this stock is going to continue to fall. The fact of the matter is that too many people who held millions of shares were banking on CLL approval. Don't let nutriman get it twisted by saying that CLL denial was baked into the current price at .008...obviously it wasn't.
This stock won't run again and will continue to fall until one of 2 things happen:
1) Partnership
2) Funding to continue operations
There will be no analytical results on the Agenda trial until September at the absolute earliest, which will be 6 months after the last patient is expected to enroll in the trial.
Scuba...
...50 million traded yet no one had their money on CLL approval, right nutriman?
You said it wasn't going to fall...
...you said the denial of the NDA was already baked into the price. I think it's YOU that's misleading people here, not me.
This stock is going to fall hard this morning due to the denial of the CLL application.
Seriously...
...who does this Brit think he is?
Close...
...I won't be adding any Genta today.
Bad news...
...pre-market is on the bid at .0061 and the ask is at .007
Nutriman, it looks like I was right again.
.0070 x .0071
Good morning!
...if nothing else, it will be an insightful day.
You think it's oversold now, wait until tomorrow
People will...
...try to buy it up as it falls, but it won't work. As much as they buy, they won't be able to outnumber the selling, then they will end up losing money.
Nothing short of a partnership announcement THIS WEEK will keep this stock from going back to the mid .004's at the highest.
Monday:
9:30 - .0065
9:45 - .0056
10:15 - .0055
10:45 -.0052
11:00 -.0052
12:00 -.0052
12:45 -.0055
1:30 - .0058
2:00 - .0053
3:00 - .0053
4:00 - .0050
Tuesday:
9:30 - .0053
9:45 - .0053
10:15 - .0051
10:45 -.0049
11:00 -.0049
12:00 -.0051
12:45 -.0048
1:30 - .0048
2:00 - .0050
3:00 - .0047
4:00 - .0045
Ok buddy
There's a novel thought!
I agree, people need to learn to worry about themselves and the decisions they make with their own money.
If you can't see why I did that...
...then the stock market might not be a good place for you.
"I don't see the rationale in selling your only portfolio stock that's in the green especially if you forsee its value increasing substantially in the near future!"
I didn't forsee its value increasing substantially in the near future. I saw it decreasing substantially.
Basically I can take the profits from taking my chips off the table last week, then buy in with those profits alone around the middle of the week for over 1 million shares and invest in something that I've been in the game for for a while now. I completely removed myself from the risk of denial of the appeal.
What is so hard to understand about that? If I would've held, I would've lost everything in profits, starting tomorrow.
cdnkid...
...you get the situation precisely, my friend. Although it wasn't "panic", it was calculated...and probably a little late. Those who think I'm a basher or a traitor likely aren't very good stock traders. It has nothing to do with bashing or being a traitor. It has to do with being able to step back and look at the big picture and separate yourself from the emotional "love" of a stock for a short time in order to make profits. I understood the situation and took my chips off the table...I still have my chips and I still believe in this company...I just didn't believe in an appeal reversal. End of story.
I'm glad you are recognizing that this will sell off (although I think you'll see it much lower by the middle of the week in comparison to Monday morning as more hands continue to hit the eject button).
Personally, I was very clear about why I was in this stock (Agenda/Tesetaxel/Partnerships), so it shouldn't come as a shocker to anyone here that I took my chips out last week. If you were in the game for these 3 things alone, like I was, then you should've taken yours out as well.
People here need to quit calling names and blaming others for their mistakes and lack of comprehension. I've been making my position known for months now.
nutriman...
...if by pumping you mean provided solid DD for lots of people, yes I agree...maybe I was a pumper. What I started to realize though was that too many people were banking on this approval, whether you want to admit that or not.
Most of the people I spoke with believe that with a non-approvable response from the FDA also goes everything else for the company, since they don't have any money. Those kinds of people are going to be getting out of this stock with the quickness. It's going to drop.
If you think this stock is just going to stay flat or go up on Monday or even all next week, you're seriously dreaming. People saying they're going to hold or buy on the dips really have their sell orders already set up for when the bell rings on Monday morning.
Sorry that bothers you, but that's the way it is.
If I didn't believe...
...that this stock price would nose dive the day/week of a non-approvable response from the FDA, then I would've never taken my chips off the table to begin with.
You guys need to wake up.
There is no if about it...
...BAC is going to show a profitable Q1 by a mile and there is going to be a serious rally.
A little advice...
...don't buy on Monday.
Yes...
...I will get back in, but it doesn't even have to be this week. This should sell off sharply, bounce, then sell off again, then continue to fall over time. I'll be back in, but it won't be anywhere near 9:45am this Monday.