GENTA ANNOUNCES COMMON STOCK OFFERING TOTALING APPROXIMATELY $17.5 MILLION
Genta Incorporated (Nasdaq: GNTA) announced that it has entered into a definitive agreement with institutional investors to sell approximately 19.1 million shares of its common stock for gross proceeds of approximately $17.5 million, before fees and expenses. The closing is expected to take place on August 11, 2005, subject to the satisfaction of customary closing conditions. The shares are being sold pursuant to the Company's registration statement on Form S-3 declared effective by the Securities and Exchange Commission on May 11, 2004. Piper Jaffray & Co. served as exclusive placement agent for the offering.