| Abstrakt: |
The article reports that Raymond P. Warrell Jr. chief executive of Genta Inc., a biopharmaceutical company based in Berkeley, California, is facing a cash problem due to a repeatedly delayed drug launch. It notes that while waiting for the U.S. Food and Drug Administration (FDA) approval of their lead product, he had cut more than half of his workforce to conserve cash. According to Deloitte & Touche, the company's auditor, the biotech could run out of cash in the near future based on Genta's 2007 annual report. |
