Biotech
Shares of drug developer Genta(GNTA) plummeted Friday after the company announced that regulators have deemed its proposed blood cancer treatment not approvable.
Genta sank 18.7% to 56 cents in morning trading. The company was seeking clearance from the Food and Drug Administration to market Genasense for treatment of chronic lymphocytic leukemia, in combination with chemotherapy. We are keenly disappointed by this decision," said Genta's CEO, Dr. Raymond P. Warrell Jr. "We believe that Genasense has amply demonstrated its efficacy and safety in patients with relapsed and refractory CLL in a carefully designed and executed randomized clinical trial." The company said that while it decides on its next steps with U.S. regulators, it will continue seeking approval of Genasense in other countries for patients who have advanced cancer.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |


Connect with TheStreet