GENTA (GETA)
New Year, New Genta, New Found Glory (OTC:GETA)
Genta Incorporated (Public, OTC:GETA)
A lot of interest has creeped up on this small cap biotech which seems to be headed down a Cinderella story, however, is all of this simply hype or is there some meat to it?
Firstly, if you’re thinking about investing in Genta, be ready for change. Long-time shareholders of Genta are well versed with unexpected turn of events, such as symbol changes and reverse stock splits. Throughout its operations, Genta has had solid news, however the price per share continues to decline and hurt stockholders quarter after quarter.
Despite this, we do see the clouds dissipating and paving the way for the rays of light as new developments look to increase shareholder value. Many investors have compared this stock to Cell Therapeutics, Inc. (NASDAQ:CTIC), which saw its shares rise from $0.12 to $2.23 in the span of two months. The similarities stop there, however, as CTIC’s market cap is a monstrous 360M (which grew more than 10 times over) compared to GETA’s nimble 20M which still has a ton of room to grow. Now that we’ve established a comparison, lets move on.
According to technical and fundamental analysis, the company could very well be headed to its 200 day moving average of $0.31 per share, which would also fill the large gap that was left behind at the end of October.
The latest development came with their flagship product, Tesetaxel, being granted Fast Track Designation by the FDA for Advanced Gastric Cancer, a more profound medical term for stomach cancer. This news comes in lue of some very important turn of events for the general Gastric cancer drug market, as it is projected to double to nearly $1.5 billion in 2018. According to a recent report published on News-Medical.net, ” Decision Resources, one of the world’s leading research and advisory firms for pharmaceutical and health care issues, finds that the gastric cancer drug market — driven by the launch of several targeted agents over the next few years — will more than double from approximately $700 million in 2008 to nearly $1.5 billion in 2018 in the United States, France, Germany, Italy, Spain, the United Kingdom and Japan.” Read more at read more
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