Well, smitter...
...if they're going to step up and save Genta they'd better hurry up. It's now the second quarter and Genta stated very clearly in their S-1/A they'd be out of money by the end of the 1st quarter. At the time of that press release (early-mid March) they had no additional funding in place.
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.
AI
