|Courtesy of faqs.org|
Focus: Cancer therapies
Based: Berkeley Heights, NJ
Genta's long struggle to stay above water ended in August when the developer of cancer drugs revealed a plan to liquidate assets in a Chapter 7 bankruptcy.
The company had held on by a string for years after the FDA shot down an application for approval of its lead cancer drug Genasense, and the company was forced to slash half of its jobs in 2008. Its top experimental therapy then flunked a late-stage study in melanoma in 2011, leaving its stock too deep in penny-stock territory for most people in biotech to even care.
Yet even as Genta rests in peace (we hope) one never knows where the company's assets could surface. Just weeks before revealing the bankruptcy, the outfit touted its agreement with the FDA on a special protocol assessment (SPA) process for a late-stage study of its oral tesetaxel as a first chemotherapy treatment for women with aggressive breast cancer.
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