is never boring! Monday night, the company announced that its phase III Genasense study in chronic lymphocytic leukemia (CLL) met its primary endpoint, which was tumor shrinkage. But Genasense did not help CLL patients live longer or even delay the progression of their cancer.
And that leads us to the second bit of Genta news from last night:
) has decided to terminate its Genasense partnership. Genta will get back rights to Genasense and go it alone.
Genta is holding its third-quarter conference call this morning, which should be fun. Recall, Genta is running short of cash, and it has an
outstanding loan with Aventis that comes due Dec. 31. What happens to this loan now that Aventis is bolting? Will Genta seek to file Genasense with the FDA again? Are there any more surprises?
And yes, you're right if you remember that Genta has a third phase III trial out there, in multiple myeloma. Alas, I wouldn't hold out much hope of positive data here either.
Please note that due to factors including low market capitalization and/or insufficient public float, we consider Genasense to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
Adam Feuerstein writes regularly for RealMoney.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He invites you to send your feedback to