Navigation Links
Genaera Corporation Implements Cash Conservation Plan
Date:3/30/2009

PLYMOUTH MEETING, Pa., March 30 /PRNewswire-FirstCall/ -- Genaera Corporation (Nasdaq: GENR) today announced that it will implement a plan to conserve existing cash resources in order to maintain the ability to pursue business development strategies for trodusquemine (MSI-1436), the first-in-class, highly selective inhibitor of PTP1B and Genaera's lead drug candidate for the treatment of type 2 diabetes and obesity, and explore strategic alternatives. The Company will also actively seek ways to monetize the anti-IL9 antibody (MEDI-528) and pexiganan programs.

The plan will reduce operating expenditures leaving cash resources available for strategic deployment and result in an approximate 80 percent reduction in headcount by May 1, 2009.

"We believe it is prudent to take all appropriate measures to conserve existing capital while weighing our options going forward," commented Jack Armstrong, President and Chief Executive Officer of Genaera.

Genaera estimates that it will incur restructuring charges of approximately $1.3 million in the second quarter of 2009 associated with the reduction in force. As of December 31, 2008, Genaera had cash, cash equivalents and short-term investments of approximately $8.1 million.

About Genaera

Genaera Corporation is developing trodusquemine (MSI-1436), for type 2 diabetes and obesity currently in phase 1 clinical testing and has a fully out-licensed partnership with MedImmune, Inc. that is in phase 2 clinical testing in asthma. For further information, please see our website at www.genaera.com.

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertaintie
'/>"/>

SOURCE Genaera Corporation
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2

Related medicine news :

1. Genaera Corporation Receives Audit Opinion Containing Going Concern Explanatory Paragraph
2. Genaera Corporation Announces 2008 Financial Results
3. Genaera to Present at BIO CEO & Investor Conference
4. Genaera to Participate in Obesity Panel at RBC Capital Markets Healthcare Conference
5. Genaera to Present at Therapeutic Area Partnerships 2008
6. Genaera Receives Non-Compliance Notice From NASDAQ
7. Genaera Corporations 2008 Annual Stockholder Meeting Results
8. Xmark Comments on Genaera Cost-Saving Plan
9. Genaera Corporation Receives Audit Opinion Containing Going Concern Explanatory Paragraph
10. Genaera Corporation Announces Licensing of Exclusive Rights to Pexiganan, a Novel Anti-Infective Drug Candidate, by Macrochem Corporation
11. Genaera Announces Formation of Scientific Advisory Board for Obesity Drug Candidate Trodusquemine (MSI-1436)

Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/30/2009)...O, Nov. 30 Three decades ago, a st...g swallowed by children, prompting a switch by U.S...d today at the annual meeting of the Radiological ... tabs are still potentially unsafe. ,, "One of ... can construction in the U.S. was to eliminate ina...
(Date:11/30/2009)...RALEIGH, N.C., Nov. 30 Raleigh de...s have launched a new plan to educate the communit...ny benefits. ,, Through a series of free educat...n is taking a lead role in educating the public ab...The series of sedation dental care educational vid...
(Date:11/30/2009)... proportion of patients who undergo abdominal/pelv...d unnecessary additional image acquisition resulti...ing to a study presented today at the annual meeti...SNA). , "It is the responsibility of all physici...t the dosage is as low as reasonably achievable wi...
(Date:11/29/2009)...eaths from cancer in Europe show a steady decline ...0-2004. Deaths from all cancers in the European Un...rcent in men and eight percent in women, with a la... a study published online in the cancer journal, ..., researchers found that there was an average 185....
(Date:11/29/2009)... The Academy of General Dentistry (AGD) ann... received the Mastership Award during the AGD,s co..., commitment to excellence in dental education.,T...s of approved continuing dental education in the 1...dicated to hands-on skills and techniques. , ...
Breaking Medicine News(10 mins):Health News:Beverage Can Stay-Tabs Pose Swallowing Risk 2Health News:Raleigh Dentist Dr. Robert Williamson to Educate Patients About Sedation Dentistry 2Health News:Unindicated CT series result in unnecessary radiation exposure for patients 2Health News:Unindicated CT series result in unnecessary radiation exposure for patients 3Health News:New figures on cancer in Europe show a steady decline in mortality but big variations 2Health News:New figures on cancer in Europe show a steady decline in mortality but big variations 3Health News:New figures on cancer in Europe show a steady decline in mortality but big variations 4Health News:New figures on cancer in Europe show a steady decline in mortality but big variations 5Health News:Orange County Dentist Honored by The Academy of General Dentistry 2
...(Amex:,ULU) announced today that its Board of Dire...fer, whereby the Company will offer to purchase sh...s of common stock. This,program reflects ULURU,s d...m selling small lots of stock. The,Company will pa...
...lford, MD, an associate professor of medicine at B...ng physician in the General Internal Medicine Depa...e medical director of the Substance Abuse Preventi...ard was presented at the American Association for ...
... limiting bariatric surgeries to high-volume cente... underinsured patients, populations which are amon...Southwestern Medical Center researchers shows. , ...nd Medicaid because some studies have identified b...
...ll/ - Novadaq(R) Technologies Inc.,(TSX: NDQ), a d...image guided,therapies for the operating room, wil...ss the financial results for the third quarter end... Taped replay: 416-640-1917 or 1-877-289-8525 (...
...ck Exchange Symbol: CYT, MONTREAL, Oct. 30 /PRNew...: CYT), the global leader in cryotherapy products ... Jan Keltjens, President and CEO of,CryoCath, will...porate update, as well as provide updates on the S...
... and Oral-B Triumph with SmartGuide to, Present t...and Grant One Lucky Winner the Make...al-B(R),s new Triumph with,SmartGuide has partnere...tance of maintaining their oral health. Oral-B,and...
Other Medicine News:Health News:ULURU Inc. Announces Odd-Lot Buy Back Offer 2Health News:Government restrictions on weight loss surgeries limit access for poor, underinsured patients 2Health News:Government restrictions on weight loss surgeries limit access for poor, underinsured patients 3Health News:Novadaq announces third quarter 2007 conference call and webcast 2Health News:Novadaq announces third quarter 2007 conference call and webcast 3Health News:CryoCath to present at CIBC Healthcare Conference 2Health News:Actress and Author Mariel Hemingway Guides Boomers on How to Make Their 'Third Age' a Healthy Age 2Health News:Actress and Author Mariel Hemingway Guides Boomers on How to Make Their 'Third Age' a Healthy Age 3
(Date:11/29/2009)... Researchers using functional magnetic resonance i... that men and women respond differently to positiv...nted today at the annual meeting of the Radiologic... direct more attention to sensory aspects of emoti...implications for required action, whereas women di...
(Date:11/27/2009).../ -- At the upcoming Radiological Society of North...yal Philips Electronics ( PHG, AEX: PHI) will demo...rmatics solutions designed to directly address the...ivering meaningful imaging innovations that reflec...y upgradability. This focus will enable Philips t...
(Date:11/25/2009)...wswire-FirstCall/ -- Hologic, Inc. (Hologic or the...anufacturer and supplier of premium diagnostics, m...ated to serving the healthcare needs of women, is ...ty of North America (RSNA) at McCormick Place in C...ghlight our new SecurView(®) DX multimodality...
Breaking Medicine Technology:New Study Finds Men and Women May Respond Differently to Danger 2New Study Finds Men and Women May Respond Differently to Danger 3Philips Helps Hospitals Strike Balance Between Innovation and Value 2Philips Helps Hospitals Strike Balance Between Innovation and Value 3Philips Helps Hospitals Strike Balance Between Innovation and Value 4New Hologic SecurView(R) DX Diagnostic Workstation Software Streamlines Workflow, Improves Radiologist Productivity 2New Hologic SecurView(R) DX Diagnostic Workstation Software Streamlines Workflow, Improves Radiologist Productivity 3New Hologic SecurView(R) DX Diagnostic Workstation Software Streamlines Workflow, Improves Radiologist Productivity 4Celebrity Permanent Makeup Artist Slams Claim 26quot 3BMichael Jackson Didn 26apos 3Bt Want to be Black 26quot 3B 50958 1Celebrity Permanent Makeup Artist Slams Claim 26quot 3BMichael Jackson Didn 26apos 3Bt Want to be Black 26quot 3B 50958 2Celebrity Permanent Makeup Artist Slams Claim 26quot 3BMichael Jackson Didn 26apos 3Bt Want to be Black 26quot 3B 50958 3FDA Clears Caspofungin 28Cancidas 28R 29 29 Susceptibility Testing for TREK Sensititre 28R 29 YeastOne 28R 29 in Vitro Diagnostics 28IVD 29 Product 12925 1FDA Clears Caspofungin 28Cancidas 28R 29 29 Susceptibility Testing for TREK Sensititre 28R 29 YeastOne 28R 29 in Vitro Diagnostics 28IVD 29 Product 12925 2FDA Clears Caspofungin 28Cancidas 28R 29 29 Susceptibility Testing for TREK Sensititre 28R 29 YeastOne 28R 29 in Vitro Diagnostics 28IVD 29 Product 12925 3IBM Award for Innovative Solution to Tackling Worlds Most Critical Social and Environmental Problems 50954 1IBM Award for Innovative Solution to Tackling Worlds Most Critical Social and Environmental Problems 50954 2IBM Award for Innovative Solution to Tackling Worlds Most Critical Social and Environmental Problems 50954 3IBM Award for Innovative Solution to Tackling Worlds Most Critical Social and Environmental Problems 50954 4IBM Award for Innovative Solution to Tackling Worlds Most Critical Social and Environmental Problems 50954 5
... (<a target="_blank" href=,"http://www.omxgroup.co...om ,ticker DMYDY) , , STOCKHOLM, Sweden, May 3, ...ng, Sweden at the Sweden-Seattle Diabetes Conferen..., the Principal,Investigator in Diamyd’s pre... 1 diabetes, presented potentially scientifically,...
...INESS WIRE)--May 4, 2007 - Inspire,Pharmaceuticals...sts and collaborators related to Inspire will pres...sociation for,Research in Vision and Ophthalmology...n Ft. Lauderdale, Florida. These abstracts,which ...to three of,Inspire,s programs, including bacteria...
Other Medicine Technology:Revolutionary Immunologic Data Explains Function of Diamyd Diabetes,Vaccine 2Revolutionary Immunologic Data Explains Function of Diamyd Diabetes,Vaccine 3Revolutionary Immunologic Data Explains Function of Diamyd Diabetes,Vaccine 4Revolutionary Immunologic Data Explains Function of Diamyd Diabetes,Vaccine 5Inspire Announces Presentations at 2007 Association for Research in,Vision and Ophthalmology Annual Meeting 2Inspire Announces Presentations at 2007 Association for Research in,Vision and Ophthalmology Annual Meeting 3
Perclose ProGlide Suture-Mediated Closure
...f todays cardiac surgery patients require progress...d speedy return to everyday life. Since the intro...nicians have been able to provide nearly 400,000 C... Faster ambulation , Shorter hospital stays ,...
...DSi is an all-digital Fundus camera system that of... an efficient workflow. The Canon CF-60DSi come...es SLR digital camera features a "full frame CMOS ...ew ICG unit, which features a near-infrared digita...
...erts are an ophthalmologic medical device designed...1.00 to -3.00 diopters.* When placed in the cornea... zone, the product reshapes the anterior surface o...escription inserts, each having an arc length of 1...
Medicine Products: