Genta Inc. released the results from a pilot study on advanced melanoma incorporating the Company’s cancer drug Genasense(R) (oblimersen sodium). This study was featured earlier this week in a presentation at the World Meeting of Interdisciplinary Melanoma/Skin Cancer Centers in Berlin, Germany, an international conference organized every year by a co-leader of the AGENDA trial, the European Association of Dermatologic Oncology (EADO).

Genasense, delivered for the first time in a high-dose, 1-hour intravenous (IV) format, was used along with the most common melanoma drug temozolomide (Temodar(R); Schering Plough, Inc.), and a paclitaxel suspension (Abraxane(R); Abraxis Bioscience, Inc.). Using a standard dose and schedule of Genasense, 500 mg over 24 hours for 7 days, showed good tolerability for 18 patients and was associated with clinical activity in prior results using this investigational combination of drugs.

Genasense, administered in this more aggressive schedule (1-hour IV twice a week for 4 weeks at 900 mg

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OVERVIEW

The Biotech industry as a whole continues to underperform the market so far this year. As of May 26, 2009, Both the AMEX Biotech Index and the broader NASDAQ Biotech Index declined 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies), while the Dow Jones Biotech Index declined 3% (which includes 33 companies).

At the same time, both the NASDAQ Composite and S&P 500 have achieved positive returns. NASDAQ has made a gain of 11% as of 5/26/09 and the S&P 500 has gained 0.8%, while the Dow Jones Industrials reached a negative 3.5% return.

This constitutes a sharp contrast with last year when the Biotech industry as a whole achieved much better performance than the market. In 2008, all three biotech indices outperformed all three major market indices by a large margin. The three major indices declined as much as over 40% (34%, 41%

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OVERVIEWThe Biotech industry as a whole continues to underperform the market so far this year. As of May 26, 2009, Both the AMEX Biotech Index and the broader NASDAQ Biotech Index declined 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies), while the Dow Jones Biotech Index declined 3% (which includes 33 companies).At the same time, both the NASDAQ Composite and S&P 500 have achieved positive returns. NASDAQ has made a gain of 11% as of 5/26/09 and the S&P 500 has gained 0.8%, while the Dow Jones Industrials reached a negative 3.5% return.This constitutes a sharp contrast with last year when the Biotech industry as a whole achieved much better performance than the market. In 2008, all three biotech indices outperformed all three major market indices by a large margin. The three major indices declined ...

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Genta Incorporated announced that the European Patent Office intends to grant two key patents related to the company’s intellectual property position on Genasense® (oblimersen sodium) Injection. These two patents will provide protection for compositions, sequences, and pharmaceutical uses of Genasense and related compounds that attack Bcl-2, the molecular target of Genasense action.

“Genta’s patent estate related to Genasense is extensive, we have detailed plans for securing rapid approval in Europe with positive data this Fall,” commented Dr. Raymond P. Warrell, Jr., Genta’s Chief Executive Officer. “The majority of patients enrolled into the AGENDA trial, a Phase 3 trial of Genasense in melanoma that completed accrual earlier this month, originated from Europe. The extended market protection offered by these patents comes at an especially favorable time in the product’s lifecycle.”

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Last year, the Biotech industry as a whole achieved much better performance than the market. Both the NASDAQ Biotech Index and AMEX Biotech Index outperformed all three major market indices (Dow Jones Industrial Average, NASDAQ Composite and S&P 500) in a large margin. The major indices declined as much as 40%. While NASDAQ Biotech Index declined only 12.6%, and AMEX Biotech Index was down 17.7%.

However, when the recession enters into its third year, the Biotech industry is not doing better than the market, which has been evident by the indices' performances. As of April 9, 2009, AMEX Biotech Index declined 3%, and the broader NASDAQ Biotech Index was down 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies). Although the Dow and S&P 500 also declined a similar percentage, technology-laden NASDAQ actually has a gain of 4.8%, which is more comparable to the

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Last year, the Biotech industry as a whole achieved much better performance than the market. Both the NASDAQ Biotech Index and AMEX Biotech Index outperformed all three major market indices (Dow Jones Industrial Average, NASDAQ Composite and S&P 500) in a large margin. The major indices declined as much as 40%. While NASDAQ Biotech Index declined only 12.6%, and AMEX Biotech Index was down 17.7%.

However, when the recession enters into its third year, the Biotech industry is not doing better than the market, which has been evident by the indices' performances. As of April 9, 2009, AMEX Biotech Index declined 3%, and the broader NASDAQ Biotech Index was down 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies). Although the Dow and S&P 500 also declined a similar percentage, technology-laden NASDAQ actually has a gain of 4.8%, which is more comparable to the

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OVERVIEWThe financial market and the economic landscape in the U.S. have not changed much since the beginning of the year. And we believe the status quo will last for a while at least in 2009.Large biotech companies are doing OK since they have strong balance sheets to weather the current market turmoil and can generate revenue from product sales. Investors in large biotechnology companies worth more than $1 billion have preserved much of their wealth. Smaller biotech companies, particularly those still in development stage, meanwhile, are under severe strain as the global economic slump cuts into sales and their ability to raise fresh cash to fund research.As we expected, the M&A spree has continued in the first three months of this year. Following the acquisition of Wyeth (WYE) by Pfizer (PFE) announced in January, Merck & Co. (MRK) announced the ...

With no sign of stabilization any time soon for current financial and economic conditions, the biotech industry will be divided at the start of 2009. We believe companies with strong balance sheets and low cash-burn rates will survive. Companies with high cash-burn rates and financing needs in the next 6 to 12 months will suffer, and may not survive the current economic downturn.

Most biotech companies are in early to middle stages of development, and continuing financing is an integral part of their operations. With liquidity drying up, capital raising will be very difficult in the next 6 to 12 months. Recently we have seen increased number of small biotech companies which are forced to enter into a survival mode to reserve cash, forced to suspend operations or file for bankruptcy.

We expect the M&A spree will continue in 2009. While licensing has been the lifeline for biotech industry, we believe big

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With no sign of stabilization any time soon for current financial and economic conditions, the biotech industry will be divided in the early part of 2009. We believe companies with strong balance sheets and low cash-burn rates will survive. Companies with high cash-burn rates and financing needs in the next 6 to 12 months will suffer, and may not survive the current economic downturn.

Most biotech companies are in early to middle stages of development, and continuing financing is an integral part of their operations. With liquidity drying up, capital raising will be very difficult in the next 6 to 12 months. Recently we have seen increased number of small biotech companies which are forced to enter into a survival mode to reserve cash, forced to suspend operations or file for bankruptcy.

We expect the M&A spree will continue in 2009. While licensing has been the lifeline for biotech industry, we believe big pharma

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