RIDGEFIELD, Conn., May 9 /PRNewswire/ -- Xmark Opportunity Partners, LLC, the investment manager to Xmark Opportunity Fund, L.P., Xmark Opportunity Fund, Ltd. and Xmark JV Investment Partners, LLC, announced today that it fully supports the initiatives outlined in the press release issued by Genaera Corporation (Nasdaq: GENR) on May 8, 2008 with respect to executive base compensation, cash incentives to executives, workforce reduction and the streamlining of expenditures.
"Management has made difficult, fiscally-responsible choices that will afford its shareholders the opportunity to profit from MSI-1436 and MEDI-528 without suffering dilution during a turbulent period in the markets," said Mitchell D. Kaye, the Chief Executive Officer of Xmark Opportunity Partners. Mr. Kaye added that, "this type of responsible behavior should serve as a model for similarly-situated companies in the small-cap biotech sector." Mr. Kaye is a member of the Board of Directors of Genaera.
|SOURCE Xmark Opportunity Partners, LLC|
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