"Dr. Raymond P. Warrell, Jr., Genta's Chief Executive Officer, noted: "The proceeds of these Offerings provide funding of the Company into 2010 and ensure our ability to analyze and release the primary data from AGENDA, our randomized Phase 3 trial of Genasense(R) in patients with advanced melanoma. We continue to anticipate release of these results in the fourth quarter of this year."
again data imho will be in late September..release info after proper protocol. could be October, could be Nov. the earlier the better i'm hoping. ducks in a row here. i think the company may have righted all their earlier wrong mistakes.
Another 100 mil shares. However, it is not all bad, and probably was already in the stock price, but it could still lose 5-10 cents of value.
"The Company shall have the right to force conversion of the new Notes, and all other outstanding senior secured notes, if the closing bid price of the Company's common stock exceeds $0.50 for a period of 10 consecutive trading days and certain other conditions are met."
So, if Genta succeds and stock is above 0.5 for 10 days , all noteholders will be automatically converted.