BERKELEY HEIGHTS, N.J.--(BUSINESS WIRE)--Genta Incorporated (OTCBB: GNTA.OB) announced today that a previously announced reverse stock split will not be effective with the opening of trading on July 1, 2009. At a Special Meeting of stockholders held on June 26, 2009, Genta’s stockholders approved a proposal to authorize the Board of Directors, in its discretion, to effect a reverse split of Genta’s outstanding common stock at a ratio within a specified range. On June 26, 2009, the Company announced that a reverse stock split in a ratio of 1 for 50 would be effective with the open of trading on July 1, 2009. A certificate of amendment has been filed with the Delaware Secretary of State that amends Genta’s certificate of incorporation for the reverse stock split. However, the reverse stock split, for purposes of trading on the OTC Bulletin Board, will not be effective until a later date due to administrative matters. The Company will announce a new effective trading date when these matters are completed. Please refer to the preceding press release and associated 8-K filing for further information regarding the reverse stock split.
