Genta reports second-quarter net income of $25.4M against net loss of $43.1M in 2009

August 19, 2015

For the second quarter of 2010, the Company reported net income of $25.4 million, or net income per basic share of $3.66 per share and net income per fully diluted share of $0.42 per share, compared with a reported net loss of $(43.1) million or $(62.56) per basic and diluted share, for the second quarter of 2009. For the six months ended June 30, 2010, the Company reported a net loss of $(141.2) million, or $(30.84) per basic and diluted share, compared with a net loss of $(54.1) million, or $(124.27) per basic and diluted share, for the six months ended June 30, 2009. Presently, the Company has approximately 8.4 million outstanding shares of Common Stock.

At June 30, 2010, Genta had cash and cash equivalents totaling $15.6 million, compared with $1.2 million at December 31, 2009. Net cash used in operating activities for the 6 month period ending June 30, 2010 was $6.3 million. We project that our average net monthly cash outflow will be approximately $1.2 million for the balance of 2010.

SOURCE Genta Incorporated