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Genaera Corporation Board of Directors Authorizes Reverse Stock Split

PLYMOUTH MEETING, Pa., April 26 /PRNewswire-FirstCall/ -- Genaera Corporation (Nasdaq: GENR) today announced that its Board of Directors has authorized the company to implement a one-for-six reverse split of its common stock, effective at the close of trading on May 11, 2007.

On a pre-split basis, Genaera had approximately 104.7 million shares outstanding as of March 31, 2007. As a result of the reverse stock split, every 6 shares of Genaera common stock will be combined into one share of Genaera common stock, reducing the total number of shares outstanding to approximately 17.4 million.

Shares held electronically through a brokerage will be automatically adjusted for the reverse sp

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