BERKELEY HEIGHTS, N.J.--(BUSINESS WIRE)--Genta Incorporated (OTCBB: GETA - News) today announced financial results for the quarter and nine months ended September 30, 2009. The Company also announced a restructuring, reduction in workforce, and re-ordering of clinical development priorities.
The restructuring has reduced the workforce by approximately 30%, which is estimated to reduce annualized payroll costs by approximately 25%. Together with other initiatives, the Company estimates that reduced expenses will yield sufficient cash to continue operations into the Second Quarter of 2010, which updates the Company’s prior guidance of January 2010.
