Genta Inc. on Tuesday said it raised $25 million in its initialpublic offering of 2.5 million shares of common stock. Theshares were priced at $10, within the range anticipated whenthe offering was filed.
The stock (NASDAQ:GNTA) closed Tuesday at $10.
In August, Genta filed to begin Phase I/II clinical trials of itsantisense compound to treat chronic myelogenous leukemia. Ifapproved, those trials would make Genta the first antisensecompany to enter the clinic.
After the offering, the San Diego company has 12 million sharesoutstanding. Underwriters Montgomery Securities and Alex.Brown & Sons Inc. have a 375,000-share overallotment option.
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