DALLAS, March 22, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Gentium SpA (Nasdaq:GENT). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/GENT
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Gentium SpA (GENT) is a biopharmaceutical company focused on the development and manufacture of defibrotide, a deoxyribonucleic acid (DNA) based drug derived from pig intestines, to treat and prevent a disease called hepatic veno-occlusive disease (VOD), a condition in which some of the veins in the liver are blocked as a result of cancer treatments, such as chemotherapy or radiation treatments that are given prior to stem cell transplantation. The Company is concluding a phase III clinical trial of defibrotide to treat severe VOD in the United States, Canada and Israel.
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In the report, the analyst notes:
"Cash, cash equivalents and short term available for sale securities as of September 30, 2009, were EUR 0.97 million compared with EUR 11.49 million as of December 31, 2008. In March 2009, the Company made a final installment payment of EUR 4.0 million related to the acquisition of marketing authorizations and trademarks for Prociclide and Noravid (previous forms of Defibrotide sold only in Italy). Net cash used in operating activities for the nine-month period ended September 30, 2009, was EUR 5.68million compared with EUR 11.09million for the same period in 2008.
"GENT recently announced management and corporate restructuring changes resulting from a strategic decision to consolidate the Company's resources and operations. Following the expansion of the license agreement with Sigma-Tau, which will provide GENT with up to $15 million in non-dilutive funding, GENT will be closing the Company's New York office and consolidating corporate activities and the executive management team within its headquarters in Italy."
To read the entire report visit: http://www.investorsoup.com/lp/GENT
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