Genta Shares Fall Despite Rising Cofidence
Share of Genta (GNTA) fell more than 30% today after the company announced late Tuesday that it was selling 20 million shares for a total of $16 million to insitutional investors, as BHI reported yesterday.
Shares ended regular trading at $0.75 a share, which is not bad at all considering that the offering of the 20 million shares will be at a cost of $0.80 a share.
The company is awaiting an FDA panel decision late October, and the fact that insitutional investors are willing to put down $16 million seems seems to indicate a positive outcome is expected. Although, Genta has disappointed shareholders before, and caution must be taken into account if one is to take the risk trading this stock.
__
Share of Genta (GNTA) fell more than 30% today after the company announced late Tuesday that it was selling 20 million shares for a total of $16 million to insitutional investors, as BHI reported yesterday.
Shares ended regular trading at $0.75 a share, which is not bad at all considering that the offering of the 20 million shares will be at a cost of $0.80 a share.
The company is awaiting an FDA panel decision late October, and the fact that insitutional investors are willing to put down $16 million seems seems to indicate a positive outcome is expected. Although, Genta has disappointed shareholders before, and caution must be taken into account if one is to take the risk trading this stock.
__
posted by Nico at
7:37 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home