Navigation Links
Genaera Corporation Receives Audit Opinion Containing Going Concern Explanatory Paragraph
Date:4/7/2008

PLYMOUTH MEETING, Pa., April 7, 2008 /PRNewswire-FirstCall/ -- Genaera Corporation (Nasdaq: GENR) today announced, in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), that the audit report included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 contained an unqualified audit opinion from its independent registered public accounting firm, KPMG LLP, which included a "going concern" explanatory paragraph. The Company discusses this matter, including its plans to address future financing needs, in Note 1 to the financial statements included in its Form 10-K.

This disclosure is required under NASDAQ rules and does not represent any change or amendment to the Company's 2007 financial statements or to its Annual Report on Form 10-K which was filed on March 31, 2008 with the Securities and Exchange Commission.

About Genaera

Genaera Corporation is focused on advancing the science and treatment of metabolic diseases. The Company has significant market opportunities with a first-in-class molecule, trodusquemine (MSI-1436), that has the potential to redefine the treatment paradigm for obesity and type 2 diabetes and is presently in a phase 1 trial in obesity. In addition, Genaera has a value-driven, fully out-licensed partnership with MedImmune, Inc. for a second core program that is presently undergoing phase 2 clinical testing in asthma. Genaera is committed to directing resources to its core program and the aggressive clinical development of its key assets to build stockholder value. For further information, please see our website at http://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 uncertainties, known and unknown. Forward-looking statements reflect management's current views and are based on certain expectations and assumptions. Such statements include, among others, statements regarding the preliminary results, clinical development plans and prospects for Genaera's programs including trodusquemine (MSI-1436) and the IL-9 antibody program. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "believe," "continue," "develop," "expect," "plan" and "potential" or other words of similar meaning. Genaera's actual results and performance could differ materially from those currently anticipated and expressed in these and other forward-looking statements as a result of a number of risk factors, including, but not limited to: Genaera's history of operating losses since inception and its need for additional funds to operate its business; the costs, delays and uncertainties inherent in scientific research, drug development, clinical trials and the regulatory approval process; the risk that clinical trials for Genaera's product candidates including trodusquemine (MSI-1436) and the IL-9 antibody program may be delayed or may not be successful; the risk that Genaera may not obtain regulatory approval for its products, whether due to adequacy of the development program, the conduct of the clinical trials, changing regulatory requirements, different methods of evaluating and interpreting data, regulatory interpretations of clinical risk and benefit, or otherwise; Genaera's reliance on its collaborators, in connection with the development and commercialization of Genaera's product candidates; market acceptance of Genaera's products, if regulatory approval is achieved; competition; general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industry; and the other risks and uncertainties discussed in this announcement and in Genaera's filings with the U.S. Securities and Exchange Commission, all of which are available from the Commission in its EDGAR database at http://www.sec.gov as well as other sources. You are encouraged to read these reports. Given the uncertainties affecting development stage pharmaceutical companies, you are cautioned not to place undue reliance on any such forward-looking statements, any of which may turn out to be wrong due to inaccurate assumptions, unknown risks, uncertainties or other factors. Genaera does not intend (and it is not obligated) to publicly update, revise or correct these forward-looking statements or the risk factors that may relate thereto.


'/>"/>
SOURCE Genaera Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Genaera Announces Formation of Scientific Advisory Board for Obesity Drug Candidate Trodusquemine (MSI-1436)
2. Genaera Corporation Announces Licensing of Exclusive Rights to Pexiganan, a Novel Anti-Infective Drug Candidate, by Macrochem Corporation
3. The ScottCare Corporation Completes Acquisition of Rozinn Electronics, a Leading Manufacturer of Cardiac Diagnostic Products
4. Brooke Franchise Corporation Announces Selected July Results
5. MedThink Communications Retained by NanoBio Corporation
6. EaglePicher Corporation Completes Transaction to Sell EaglePicher Boron, LLC to Ceradyne, Inc. for $69 Million
7. Dana Corporation, Inc. Enters Into Settlement Agreement With Dana Retiree Committee
8. Memry Corporation Announces Fiscal Fourth Quarter and 2007 Year End Earnings Release and Conference Call
9. Somanetics Corporation to Release Third Quarter 2007 Financial Results and Host Conference Call September 19
10. LifeQuest World Corporation Proud Contributor to Dietary Supplement Education Alliance (DSEA)
11. DTI Medical Corporation Announces Reverse Split and Other Corporate Developments
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/19/2017)... ... August 19, 2017 , ... ... has joined its Orlando location as an interventional pain management physician. He brings ... on the treatment of migraine headaches, and significant experience in spinal cord stimulation ...
(Date:8/18/2017)... New York (PRWEB) , ... ... ... Courier, LLC, d/b/a Quick International, LLC (“Quick”), a highly specialized asset-light logistics ... it has entered into a definitive agreement to purchase Unitrans International Corporation, ...
(Date:8/18/2017)... O'Fallon, MO (PRWEB) , ... August 18, 2017 , ... ... Charles County, is inaugurating a new charity drive to generate community support for efforts ... for research into cures and treatments for all types of cancer. , Each ...
(Date:8/18/2017)... ... August 18, 2017 , ... The Brian Gifford Agency, ... Indiana, is campaigning in support of Campagna Academy in a charity drive to provide ... “Hoosier Boys’ Town of Indiana,” Campagna Academy is a nonprofit organization that has offered ...
(Date:8/18/2017)... ... 2017 , ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh in Abilene, Texas, ... false teachings pertaining to the mother of the Savior whom the world calls “Mother Mary”. ... picture of the role of this historical woman. , “The world bows, kisses the ...
Breaking Medicine News(10 mins):
(Date:8/15/2017)... Aug. 15, 2017   Mostyn Law and Gulf Coast ... Houston, Texas . The Mostyn Law family has ... years. That is why Mostyn Law is partnering with ... to show its appreciation. Blood supplies are running low. ... short of hospital needs in August. That is why the blood ...
(Date:8/15/2017)... N.C. , Aug. 15, 2017  Axium Pharmaceuticals Inc., the creator ... rumored to be in the beginning stages of an IPO. ... on epilepsy medications with the average cost of a prescription epilepsy drug ... ... Another staggering figure is the fact ...
(Date:8/15/2017)... , Aug. 15, 2017  AOTI Inc. announced today that its ... Inc., has recently opened a New York City Office in ... of its unique Topical Wound Oxygen (TWO 2 ) homecare therapy. ... Accreditation Commission for Health Care (ACHC) under the company,s DMEPOS accreditation ... ...
Breaking Medicine Technology: