Genta gaining traction before release of AGENDA trial results Print E-mail
By R. Saito   
Friday, 18 September 2009 03:00

Over the last three days we have seen big movements and increasing volume in trading of Genta Incorporated (OTC:GETA).

Their phase III AGENDA trial for Genasense has been completed, and results are expected in the fourth quarter, which could be any day- two weeks from now going forward. 

The AGENDA trial is of tremendous importance to Genta, and a positive outcome of the trial will rocket this stock to completely new levels. 

The current action in Genta may be due to speculations that the trial results will be released earlier than expected, in the same fashion as Dendreon did earlier in the year.  After all, if the news is good, there is a good chance the company will release it as soon as possible.  The dramatic drop in price on high volume this morning was also reminiscent of Dendreon just prior to release of the trial results. 

Since the drop, the price has stabilized again close to yesterday's closing price.  As with every important company events, the rumor mill has a tendency to start a stock running early, and the rumors around Genta and plentyful.  We will continue watching Genta and hope for successful trial results as Genasense stands to become a welcome addition to the standard of care for melanoma patients and eventually other cancer patients as the label expands.

R.Saito is a respected biotech investment writer and new member of the BioMedReports team. 
He is long GETA.

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