Genaera Corporation Announces Initiatives to Conserve Resources to Continue Development Efforts
Genaera Corporation (NASDAQ: GENR) today announced plans that will enable the Company to continue development efforts over the next twelve months for its trodusquemine (MSI-1436) type 2 diabetes and obesity program, and the MEDI-528 asthma program, being developed by its partner MedImmune, Inc. (“MedImmune”), a wholly owned subsidiary of AstraZeneca.
Genaera will implement the following initiatives to improve the Company’s cost structure:
�� A voluntary 10% reduction in executive base compensation effective June 1, 2008;
�� A voluntary...
Genaera Corporation Receives Audit Opinion Containing Going Concern Explanatory Paragraph
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.
Genaera Corporation Announces 2007 Financial Results
Genaera Corporation (NASDAQ: GENR) today announced its financial results for the year and quarter ended December 31, 2007. The net loss for the year ended December 31, 2007 was $15.7 million, or $(0.90) per share basic and diluted, as compared to a net loss of $21.2 million, or $(1.46) per share basic and diluted, for the year ended December 31, 2006. The net loss for the quarter ended December 31, 2007 was $5.8 million, or $(0.33) per share basic and...
Genaera Corporation Announces MSI-1436 Data Presented at Society of Neuroscience Meeting
Genaera Corporation (NASDAQ: GENR) announced that preclinical data was presented Thursday at the Chicago Chapter of the Society of Neuroscience by Mitchell F. Roitman, Ph.D., a Genaera collaborator and investigator with the University of Illinois at Chicago. The abstract titled “A novel anti-obesity drug MSI-1436 does not alter the rate of dopamine uptake via the dopamine transporter,” demonstrates that MSI-1436 does not inhibit the dopamine transporter in vivo by directly measuring dopamine levels in the brain of rats after MSI-1436...
Genaera Announces MedImmune Initiation of Phase 2A Trial of Antibody Targeting Interleukin-9 in Patients with Asthma
Genaera Corporation (NASDAQ: GENR) today reported that development partner, MedImmune, has initiated its fourth phase 2a clinical trial of MEDI-528, an anti-IL-9 monoclonal antibody (MAb) targeting interleukin-9 (IL-9), in patients with asthma. This clinical trial is designed to assess the potential of MEDI-528 in patients with stable asthma and exercise-induced bronchoconstriction. Genaera and MedImmune entered into a research collaboration and licensing agreement for this program in 2001.
MedImmune is currently evaluating MEDI-528 in patients with asthma in a series...
Genaera Corporation to Present at BIO CEO & Investor Conference
Genaera Corporation (NASDAQ: GENR) today announced that Jack Armstrong, President and Chief Executive Officer of Genaera, is scheduled to present at the 10th Annual BIO CEO & Investor Conference. The presentation will provide an update on the Company’s programs and will take place at the Waldorf-Astoria Hotel in New York on Tuesday, February 12 at 1:15 p.m. EST.
About Genaera
Genaera Corporation is focused on advancing the science and treatment of metabolic diseases. The Company has significant market opportunities...
Genaera Corporation Presents Promising Preclinical Type 2 Diabetes Data for Trodusquemine (MSI-1436) at Keystone Symposia
Genaera Corporation (NASDAQ:GENR) announced today a poster presentation of preclinical data on trodusquemine (MSI-1436), Genaera’s lead drug candidate for the treatment of type 2 diabetes and obesity, during the Diabetes Mellitus, Insulin Action and Resistance Keystone Symposia in Breckenridge, Colorado.
Genaera research scientists concluded that treatment with MSI-1436 leads to marked improvement in glucose tolerance and lowers plasma insulin levels in diet-induced obese (DIO) mice and improves fasting blood glucose and glucose tolerance in hyperglycemic animal models, and that...
Genaera Announces Diabetes IND In Effect for Trodusquemine (MSI-1436)
Genaera Corporation (NASDAQ: GENR) today announced that the investigational new drug (IND) application submitted to the US Food and Drug Administration (FDA) for trodusquemine (MSI-1436) in type 2 diabetes is now in effect. This application represents the second IND filed by the Company in 2007 for MSI-1436. A previous IND for the treatment of obesity, under which Genaera is currently conducting phase 1 clinical trials, has been in effect since April 2007. MSI-1436 is a novel therapeutic for the treatment...
Genaera Begins Dosing Second Phase 1 Trial of Type 2 Diabetes and Obesity Compound Trodusquemine (MSI-1436)
Genaera Corporation (NASDAQ: GENR) today announced that dosing of subjects has begun in study MSI-1436C-103, the ascending single dose Phase 1 study of trodusquemine (MSI-1436), in overweight and obese type 2 diabetics. MSI-1436 is a novel therapeutic for the treatment of type 2 diabetes and obesity which works centrally and peripherally to regulate insulin and leptin receptor signaling through inhibition of its novel target enzyme PTP-1B.
Study 103 is similar in design to the previously completed Study 101 which...
Genaera Corporation to Participate in Diabetes and Obesity Panel at RBC Capital Markets Healthcare Conference
Genaera Corporation (NASDAQ:GENR) today announced that Jack Armstrong, President and Chief Executive Officer of Genaera, is scheduled to present at the 2007 RBC Capital Markets Healthcare Conference. The presentation is part of an RBC Capital Markets' panel discussion of diabetes and obesity, entitled, “The Pharmaceutical Sweet Spot: Diabetes & Obesity,” and will take place in New York on Thursday, December 13 at 10:00 a.m. ET.
This panel presentation is being webcast at:
http://www.wsw.com/webcast/rbc84qpanel23
About Genaera
Genaera Corporation...