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news.Genta has been notified by the Nasdaq that it no longer complies with the minimum closing bid price.
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The company has until June 16, 2008 to regain compliance, which requires a closing bid price of the company’s common stock at or above $1 per share for a minimum of 10 consecutive business days. In the event the company does not regain compliance within this period, the company may appeal a delisting determination by the Nasdaq Listing Qualifications Panel, and the company’s securities would remain listed pending the panel’s decision.