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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.

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SOURCE Genaera Corporation
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