SPOTLIGHT: FDA rejects Genasense

Already hammered by poor trial data, Genta announced today that the FDA had formally rejected its leukemia therapy Genasense. Genta's stock dropped more than 20 percent to 54 cents a share. Its stock had already been hurt by the news several days ago that the therapy had failed a trial. "We are keenly disappointed by this decision," Raymond Warrell, Genta's chief executive, said in a statement. "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." Release | Report