I have been a recruiter for the Pharmaceutical and biotech industry for over a decade and have worked with many of these companies including Genta several years ago. I see how companies like Genta get rejected by the FDA all the time and people forget about them and then several years later there back in the news with their drug. I have always asked myself how the hell these companies who make no money and have a stock price of almost nothing survive. But you come to realize thats exactly what they do, survive. Anyone who has enough experience to start or work for a small biotech knows they have a tough road ahead and they will most likely go several years living on a shoe string budget and barely getting by. Biotechs are very good at working under these conditions and they go into hibernation mode. Cut the staff, lower salaries, pay salaries in stock, issue more shares, do R/S, get partners, etc. Genta even worked out a deal with their landlord. As long as there is a chance, even a slim chance, Genasense can get approved, they are NOT GOING ANYWHERE! Especially since Genasense, if it gets approved, will be a billion dollar blockbuster drug!
