On June 12, 2009, Genaera Corporation transferred all of its assets and liabilities to the Genaera Liquidating Trust (the "Trust") and filed its Certificate of Dissolution with the Delaware Secretary of State -- all pursuant to the Plan of Complete Liquidation and Dissolution adopted at a Special Meeting of Stockholders on June 4, 2009. The Trust made an interim distribution to unit holders (former stockholders) of $0.13 per unit share in June of 2010 and a final distribution of $0.023 per unit/share on March 31, 2011 for a total of $0.153 per unit/share. The Trust's operations are now completed and the Trust's office is closed. Correspondence relating to Trust matters should be sent to: Genaera Liquidating Trust, Attn: J. Skolas, P.O. Box 299, New Hope, PA 18938. The Trust has prepaid its web hosting provider to keep the Genaera website active until June of 2013. Links to income tax information, along with all reports and updates prepared during the Trust's operations are posted below, including the final Grantor Tax Letter providing income tax information related to the Trust's partial 2011 tax year.

 EPILOGUE - GENAERA LIQUIDATION

 I. Tax and Financial Statements
          2011 Grantor Tax Letter
          2010 Financial Statements with Tax Information
          2010 Grantor Tax Letter
          2009 Financial Statements
          2009 Tax Information and Grantor Tax Letter
          Overview of Tax Impact to Former Stockholders

 II. Reports to Unit Holders (former Stockholders)
          Final Distribution Announcement - March 30, 2011
          Notice to Unit Holders December 14, 2010
          Detailed Report to Former Stockholders
          Interim Distribution Announced July 2010
          May 2010 Brief Update - IL-9 License Sale
          March 2010 Brief Update
          February 2010 Brief Update
          September 2009 Brief Update
          August 2009 Detailed Update
          Letter Mailed To Unit Holders August 2009

 III. Public Announcements
          Press Release GLT January 11, 2010
          Announcement for DTC System May
          Press Release GLT May 23, 2011

 IV. Drug Development Asset Marketing Materials
          Executive Summary IL-9 Program - November 2009
          Executive Summary Pexiganan Program - November 2009

 V. Frequently Asked Questions
          FAQ for Former Stockholders