Saturday, March 24, 2007

Genaera Corporation Announces 2006 Financial Results

PLYMOUTH MEETING, Pa., March 14 /PRNewswire-FirstCall/ -- Genaera Corporation (Nasdaq: GENR - News) today announced its financial results for the year and quarter ended December 31, 2006. The net loss for the year ended December 31, 2006 was $21.2 million, or $(0.24) per share basic and diluted, as compared to a net loss of $26.4 million, or $(0.44) per share basic and diluted, for the year ended December 31, 2005. The net loss for the quarter ended December 31, 2006 was $3.6 million, or $(0.03) per share basic and diluted, as compared to a net loss of $7.8 million, or $(0.11) per share basic and diluted, for the quarter ended December 31, 2005. The loss from operations for the year and quarter ended December 31, 2006 was $22.8 million and $4.0 million, respectively, as compared to $27.2 million and $8.2 million for the same periods in 2005.

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