stabbs
07-17-2007, 03:00 PM
I bought some shares of GNTA a few years back and it dropped from $4 - $0.30. I only had 22 shares, so I figured I would just hang on to them. They changed their symbol to GNTAD and released the news below. Does this mean I lose my shares?
Genta Gets NASDAQ Listing Extension
Martin C. Daks
Accounting/Finance/Insurance
7/13/2007
A NASDAQ extension has saved Genta Inc. (Nasdaq: GNTAD) from delisting, but to remain on the exchange the company must implement a reverse stock split by July 13 and maintain a minimum bid price of $1.00 for at least 10 consecutive business days.
The company’s board of directors has approved a one-for-six reverse stock split of the company’s common stock effective on July 13. On May 2 Genta, a Berkeley Heights biopharmaceutical company focused on products to treat cancer, announced it had received a staff determination letter from the NASDAQ exchange noting that the company’s common stock was subject to because the closing bid price of its common stock was below the $1.00 minimum closing bid price requirement.
Genta shares were at $1.55 in early-afternoon trading.
Genta Gets NASDAQ Listing Extension
Martin C. Daks
Accounting/Finance/Insurance
7/13/2007
A NASDAQ extension has saved Genta Inc. (Nasdaq: GNTAD) from delisting, but to remain on the exchange the company must implement a reverse stock split by July 13 and maintain a minimum bid price of $1.00 for at least 10 consecutive business days.
The company’s board of directors has approved a one-for-six reverse stock split of the company’s common stock effective on July 13. On May 2 Genta, a Berkeley Heights biopharmaceutical company focused on products to treat cancer, announced it had received a staff determination letter from the NASDAQ exchange noting that the company’s common stock was subject to because the closing bid price of its common stock was below the $1.00 minimum closing bid price requirement.
Genta shares were at $1.55 in early-afternoon trading.