UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Aries, Domestic Fund, LP
787 Seventh Avenue
48th Floor
New York, NY 10019
2. Issuer Name and Ticker or Trading Symbol
Genta Incorporated /DE/
GNTA
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
AUGUST/1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value |8/19/9| P | | 6,200 | A | $0.625 | | D |
$0.01 per share |8 | | | | | | | |
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Common Stock |8/20/9| P | | 6,200 | A | $0.625 | | D |
|8 | | | | | | | |
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Common Stock |8/24/9| P | | 4,000 | A | $0.719 | | D |
|8 | | | | | | | | |
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Common Stock |8/25/9| P | | 3,900 | A | $0.730 | | D |
|8 | | | | | | | | |
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Common Stock |8/27/9| P | | 4,200 | A | $0.791 | | D |
|8 | | | | | | | | |
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Common Stock |8/28/9| P | | 4,100 | A | $0.813 | | D |
|8 | | | | | | | | |
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Common Stock |8/31/9| P | | 4,450 | A | $0.875 | 5,368,899 | D |
|8 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Series A Convertible P|$8.27 |08/24|P | | 1,300 |A |N/A |N/A |Common Stock| 9,432|$6.80 |29,300 |D | |
referred Stock, par va| |/98 | | | | | | | | | | | | |
lue $.001 per share | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
See Attachment A
SIGNATURE OF REPORTING PERSON
/s/Lindsay A. Rosenwald, M.D.
- ---------------------------------------------------------
Lindsay A. Rosenwald, M.D., President
Paramount Capital Asset Management, Inc., General Partner
Aries Domestic Fund, L.P.
DATE
09/10/98
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
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Attachment A
Reporting Person: The Aries Domestic Fund, L.P.
Issuer: Genta Incorporated (GNTA)
Statement For: August 1998
Paramount Capital Asset Management, Inc. ("Paramount"), the General
Partner of the Aries Domestic Fund, L.P. (the "Partnership"), also serves as the
Investment Manager to The Aries Trust (the "Trust" and, together with the
Partnership, the "Aries Funds"), a Cayman Islands trust, which also owns
securities of the Issuer. Lindsay A. Rosenwald, M.D., is the sole shareholder of
Paramount. Paramount and Dr. Rosenwald disclaim beneficial ownership of the
securities held by the Partnership and the Trust, except to the extent of their
pecuniary interest therein. Pursuant to certain agreements, the Aries Funds have
the right to designate a majority of the Issuer's Board of Directors, however,
the Reporting Person disclaims status as a Director of the Issuer.
