GENTA (GNTA) www.genta.com

Recent stock price: 12.44 (2/17/04 close)

52-wk range: 5.50 – 17.65

Market cap: 923 Mil

Diluted EPS: - 0.66

Revenue: 5.2 Mil ttm

Expenses: - 66 Mil ttm

Net income: - 61 Mil ttm

Revenue Growth: 2337% ttm

Est. target price: 16.25

Founded: 1988 Berkley Heights, NJ

Employees: 96

Analyst recommendations: neutral/mkt perform “ 2.0 / 5.0“ (1= Strong buy, 5 = Strong sell)

Analyst upgrades

GenasenseP-III

results

Analyst down

gradesNDA filed

State visit

Analyst reports

Genasense

Ganite

Androgenics

Oral Gallium

Decoy

Discovery Formulation Ph1 Ph2 Ph3 Market

Products

Genasense—Antisense Bcl-2 to inhibit tumor growth. Overexpression of Bcl-2 is a major contributing factor to the development of drug resistance in cancer patients undergoing chemotherapy, radiation, or monoclonal antibody treatment. Most tumors express high levels of Bcl-2, therefore inactivation of Bcl-2 is a feasible target to sensitize cancer cells to these therapies. Phase III trials show 2-month increase in survival rate for melanoma patients. NDA filed in Dec 2003 for malignant melanoma and has fast-track designation. Phase I and II trials are ongoing for CLL, MML (2004 NDA, orphan drug status), prostate (2005), NSCLC (2006), NHL (2006), colon (2007) and breast (2007). $477 Mil collaboration with Aventis to develop Genasense.

Ganite—FDA approved drug consisting of elemental gallium delivered intravenously for the treatment of cancer-related hypercalcemia (excessive buildup of calcium in the bloodstream). Because gallium also acts as a ribonucleotide reductase inhibitor, an IND has been filed for Ganite treatment of Non-Hodgkin’s Lymphoma.

Oral Gallium—Gallium also incorporates into metabolically active bone where it can inhibit bone resorption. An oral formulation is being developed for low-dose extended-use treatment to maintain bone integrity over long-term periods. Currently in Preclinical development.

Androgenics—Small molecule compounds that inhibit testosterone production for hormone-dependent prostate cancer treatment. Currently in Preclinical development.  CREBP Decoy—Modified strands of DNA or RNA bases with increased half-life that act as a decoy for cyclic AMP response element (CRE)-binding protein. Preclinical studies indicate this drug can selectively inhibit cancer cell growth.

GNTA vs. ISIS

GNTA vs. BTK

GNTA vs. LORFF

DIRECT COMPETITOR COMPARISON

GNTA ISIS LORFF INDUSTRY

Market Cap: 1.0B 480 M 137 M 215 M

Employ ees: 96 523 52 117

Rev. Growth (ttm): 2337% 51% 11%

Gross Margin (ttm): 100% 100% 88% 95%

EBITDA (ttm): -58.7M -68.7M -16.4M -18.0M

Net Income (ttm): -59.9M -86.1M -17.0M -20.9M

EPS (ttm): -0.81 -1.56 -0.11 -0.71

PS (ttm): 190.1 7.4 273.5 13.7

GNTA = Genta Inc. ISIS = Isis PharmaceuticalsLORFF.OB = Lorus Therapeutics Inc