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I can imagine all kinds of things also, it's better to be realistic. Realistically, there's nothing on the horizon for this company within the next 90 days at which time they'll have to reverse split. They diluted 65 million shares last month. They will not have any Agenda data until 6 months post-accrual.
Let me just ask this, what potential news could you realistically be expecting to hear something on?
A seasoned investor knows that...
...when a reverse split is imminent (in this case, less than 90 days) and there is no other expected positive news on the horizon within that time frame to move the pps upwards, wait for the R/S and dilution which inevitably follows before entry. I'll be able to pick up 5 times as much intrinsic value at that point for any dollar spent today.
You should do the same. There's nothing that will move this pps upwards before the r/s must be put into motion.
There is no reason to be in Genta with the impending reverse split and dilution when there is nothing on the horizon as far as FDA approval until the end of 2010.
Why is that not surprising? It makes zero sense to be in Genta AT THIS TIME if you've done your homework.
I'm not sure where you get off saying I don't believe in Genta's potential. I NEVER said that. I firmly believe in their potential and I'm a huge fan of their late phase III pipeline.
What I'm not a fan of is what they'll have to do at the shareholders expense between NOW and FDA decisions or partnerships on drugs.
That's the reality of the situation.
.0086
Yes, I'm serious. And you're incorrect, 17 minutes will not give you a good idea as to what you're getting involved in with GNTA.
Due diligence is required OUTSIDE of the message board where others who have done no DD will post things like "I think we will NOT have to reverse split and we'll hear an FDA approval soon!"
That's nonsense.
Genta MUST reverse split in order to receive the second half of the "up to 12MM" in financing. It's a stipulation and they must do it within 105 days of the initial closing. That day has already past, as we all know.
Second, the NDA won't even be submitted until very late Q42009 at the earliest. Assuming the data is worth submitting in an NDA, you won't hear back from the FDA until mid-late 2010.
Because I've put in hundreds of hours of research here and hate to see others mislead by lies, deception and pumping. I also like to keep a close ear to the ground because I believe in the company's pipeline.
Varok,
You may not remember, but I was once very bullish on Genta, and I remain that way on Genta's pipeline.
Unfortunately, for them (the company), they are completely out of money and are at the mercy of their investors (even more so now than before).
This requires drastic measures to be taken (I'm sure grudgingly) on Genta's part to secure financing, including reverse splits and dilution. A reverse split is a requirement of the financing agreement. Dilution will follow even more severely than it's occurring today (65 million per month).
We'll see how quickly the poison pill shares in the A/S get used up over the coming months.
What?
I don't even know what that means.
Why would a PR come tomorrow? What are you expecting to hear on?
Let me try to refute some of the errors as they pertain to Genta and its stock price.
"Read me now and remember me exactly a week from today to the minute. It is oversold on false expectations!"
What are we talking about? What false expectations?
"If no dilution is taking place and no bad news is shown will you still have the same opening of GNTA?"
Over the past month, Genta has diluted the common by 65 million shares. 950 million o/s in March during the conference call, over 1.01 million available as of April 1st in the lastest 10-k. It may be beneficial to do some reading on the matter.
"Well guess what no dilution and no bad news. The market is trading GNTA as junk due to technical pressures and people willing to take a loss because of not seeing the true value."
I'll say it again so that it really gets home. Over the past month, Genta has diluted the common by 65 million shares. 950 million o/s in March during the conference call, over 1.01 million available as of April 1st in the lastest 10-k.
"Any person who states for a fact that dilution is taking place is willfully out to manipulate the price of GNTA. Some people question if it is going on or not and that is fine. However, I defy any person to show me 1 single share that has been printed due to the currant financing agreement. Go ahead, show me!"
Over the past month, Genta has diluted the common by 65 million shares. 950 million o/s in March during the conference call, over 1.01 million available as of April 1st in the lastest 10-k. It's OBVIOUS THEY ARE DILUTING. 65 MILLION ADDITIONAL SHARES IN ONE MONTH.
"In fact the 1.014m shares has been the number for month now. If you want to see what dilution does to a stock all you need to do is look at is GNTA's history( Dec 2008 chart)."
Wrong, wrong, wrong. Dilution is NOT what caused the drop in December of 2008. Might I suggest to people that they need to go back and listen to the conference call so that they don't sound uneducated to people who have done extensive research on the company and know the subject matter. The CEO of Genta spoke directly to this drop and it had nothing to do with new shares hitting the street.
"Now ask your self. Dose that chart look like today's chart ? NO!"
See above. The CEO of the company has explained this fall in December 2008.
"I was going to just start putting on ignore every member who outright screams dilution. But I think the mods here can do the job for me."
The people who talk about dilution are telling you the God's honest truth, as proven with the facts above.
Reverse split will definitely happen if the company wants the other 6MM. It's what happens after that, with respect to dilution, is what should scare the bejeezus out of people.
I'm extrapolating based upon last months 64 million shares of dilution. People are saying there is "absolutely ZERO" dilution going on and they couldn't be more wrong.
Easy. There were 950 million shares outstanding as of the 1st quarter conference call.
The Latest 10-k (amended) shows:
April 1st / 09 : 1,014,141,242 Common stock outstanding
That's called dilution, my friend.
64 million shares in a month is nothing to sneeze at. Next month, it will probably be 128 million and so on.
Haha, you're funny. I'm not short on this stock...I don't short stocks, period. I just enjoy posting here with you good people.
In February (or was it March?), there were roughly 950 million shares. We all heard that from the CEO in the conference call.
Latest 10-k (amended) shows:
April 1st / 09 : 1,014,141,242 Common stock outstanding
You do the math.
What news is on the horizon to boost the PPS of GNTA?
Anyone want to take a stab here of anything realistic prior to the required reverse split in June?
Please stay on topic, discussing GNTA.
I guarantee you there is no expected news other than a response from the FDA on the Tesetaxel SPA submittal prior to the required reverse split that has to take place 105 days after the initial closing on the first half of the 12MM financing deal.
That is not opinion, that is fact. There is no expected news. Agenda won't produce any results until 6 months post-accrual at the earliest, as per the CEO.
There is nothing else to EXPECT information on until after the reverse split takes place.
What are you expecting to hear news on?
Buying time? No Sir. This is exit time...it's about 2 weeks PAST exit time.
Latest 10-k (amended) shows:
April 1st / 09 : 1,014,141,242 Common stock outstanding
They are diluting. The last in February, the outstanding shares were something like 950 million. That's dilution and it brings down the value of the shares you hold. They will continue to dilute, you can bank on it.
The second part from the most recent 8-k is much more concerning:
Recent 8-K filed pretty much confirms a R/S as a stipulation, that is unless they don't want the money.
"The 2009 Notes include certain events of default, including a requirement that the Company effect a reverse stock split of the Company’s Common Stock within 105 days of the Initial Closing. There are currently not enough shares of common stock authorized under the Company’s certificate of incorporation to cover the shares underlying the 2009 Notes."
They're going to continue to dilute and MUST reverse split in order to receive money to get them past June 2009. You can read in the latest pr that they need 6 more months in order to get results for the Agenda Trial, yet they only have enough financing to get them through June, 2009.
This will REQUIRE a reverse split. THIS IS NOT THE TIME TO BUY!
There's one piece of EXPECTED, REALISTIC news that could come prior to June...
...aside from news on reverse splits and dilution.
Genta submitted a request for a randomized study of Tesetaxel to FDA for special protocol assessment. It is intended to secure agreement on the design, size, and endpoints of clinical trials that are intended to form the primary basis of an efficacy claim in a New Drug Application.
This could be something that people pump to newbies and get the pps running. Newbies won't realize this doesn't mean much of anything at all.
Smart money is exiting GNTA...
...there is no expected positive news on the horizon for the company until after the reverse split is executed.
NO.
In fact, it's the exact opposite. It's a REQUIREMENT that this stock put into effect a reverse split if the company wants the other 6 million dollars. Read the 8k. It's there, plain as day and easy to understand. It's time to start doing your own research and stop listening to others who will mislead you.
Latest 10-k (amended) shows:
April 1st / 09 : 1,014,141,242 Common stock outstanding
They are diluting. The last in February, the outstanding shares were something like 950 million. That's dilution and it brings down the value of the shares you hold. They will continue to dilute, you can bank on it.
The second part from the most recent 8-k is much more concerning:
Recent 8-K filed pretty much confirms a R/S as a stipulation, that is unless they don't want the money.
"The 2009 Notes include certain events of default, including a requirement that the Company effect a reverse stock split of the Company’s Common Stock within 105 days of the Initial Closing. There are currently not enough shares of common stock authorized under the Company’s certificate of incorporation to cover the shares underlying the 2009 Notes."
So while it's great that they finished accrual, they're going to continue to dilute and MUST reverse split in order to receive money to get them past June 2009. You can read in the latest pr that they need 6 more months in order to get results for the Agenda Trial, yet they only have enough financing to get them through June, 2009.
This will REQUIRE a reverse split.
Take your money out, put it in the big board....
...and wait for the reverse split to take place. Make a decision at that point. 75 percent of r/s companies trade back to pre-r/s levels.
We're a LONG way away from even an NDA submission, much less an FDA response, on Genasense in the treatment of Melanoma. Probably looking at mid-late 2010.
Your money can be working for you in other positions while this one is fighting a losing battle.
Man, you won't hear any news on Agenda for MONTHS...
...a reverse split is REQUIRED within the next 100 days, as per the most recent 8k, if Genta wants the other 6 million to stay in business. We won't get any Agenda Trial results for 6 months post accrual. You do the math.
The only thing you'll hear on Tesetaxel is an FDA response on the SPA request, which is nothing to get excited about.
I suppose if you're willing to sit through dilution and a reverse split over the next 6 to 7 months, go for it!
What could be on the horizon (realistically) that would provide any kind of lift for Genta?
Nothing.
Aside from news on reverse splits and dilution there is no expected potentially positive news on the horizon that means anything at all.
Genta submitted a request for a randomized study of Tesetaxel to FDA for special protocol assessment. It is intended to secure agreement on the design, size, and endpoints of clinical trials that are intended to form the primary basis of an efficacy claim in a New Drug Application.
This could be something that people pump to newbies and get the pps running. Newbies won't realize this doesn't mean much of anything at all.
Sorry, but if you're in this for the Agenda Trial, you won't hear news until after the reverse split takes place.
Give me a break with that. Short interest is extremely low for this stock compared to the volume.
Scroll over and click the "Short Info" tab:
http://pinksheets.com/pink/quote/quote.jsp?symbol=gnta#getShortInfo
The simple fact is this. The pps is going down because there is little to nothing realistic on the horizon.
Sorry.
If someone is buying,
...then someone is selling, unless dilution is occurring.
No, I don't know anything about that.
I have no idea what you're insinuating.
Let's keep the discussion on GNTA stock and how it is falling rapidly.
I don't know if that would be a good thing, as it's the only drug they have on the market and it only brings in half a mil. per year.
They would sell only as a last desperation type play.
And as we all know,
GNTA stock moves up on news like reverse splits and dilution. You could only imagine what will happen with a response from the FDA on SPA for Tesetaxel.
While true, the only thing we should be EXPECTING to hear news on is an answer to the request submitted to the FDA for the SPA on Tesetaxel.
Well, there's one piece of news that could come...
...aside from news on reverse splits and dilution.
Genta submitted a request for a randomized study of Tesetaxel to FDA for special protocol assessment. It is intended to secure agreement on the design, size, and endpoints of clinical trials that are intended to form the primary basis of an efficacy claim in a New Drug Application.
This could be something that people pump to newbies and get the pps running. Newbies won't realize this doesn't mean much of anything at all.
There's nothing else on the horizon for quite some time for GNTA...there are other plays to be in that are actually happening NOW.