Genaera Corporation Presents Data on Mechanism of Inhibition of PTP-1B for Trodusquemine (MSI-1436) at Federation of American Societies for Experimental Biology (FASEB) Meeting
Genaera Corporation (NASDAQ: GENR)
announced today the presentation of new preclinical data on trodusquemine (MSI-1436), a novel inhibitor of PTP-1B and Genaera’s lead drug candidate for the treatment of type 2 diabetes and obesity, during the 10th Biennial FASEB Summer Research Conference Protein Phosphatases in Snowmass Village, Colorado. The poster presentation entitled, “Trodusquemine (MSI-1436), An Allosteric Inhibitor of Protein Tyrosine Phosphatase 1B,” concluded that MSI-1436 is a selective, reversible and noncompetitive inhibitor of PTP-1B that enhances insulin signaling through potent...
Genaera Corporation Elects Paul K. Wotton to Board of Directors
Genaera Corporation (Nasdaq: GENR) today announced the election of Paul K. Wotton, Ph.D., to Genaera’s Board of Directors, bringing the membership total to seven. Dr. Wotton is expected to serve for the remainder of the Board’s existing term through the Company’s 2009 Annual Meeting.
“We are extremely pleased to add Paul Wotton to our Board of Directors. He has a proven record of success in business development, commercializing new business opportunities, and closing negotiations,” said Jack Armstrong, president and...
Genaera Corporation to Present at BIO Business Forum
Genaera Corporation (NASDAQ: GENR) today announced that Jack Armstrong, President and Chief Executive Officer of Genaera, is scheduled to present at the BIO Business Forum. The presentation will provide an update on the Company’s programs and will take place at the San Diego Convention Center in San Diego, California on Tuesday, June 17, 2008 at 3:00 p.m. PST in Room 4.
Mr. Armstrong will also join a panel of experts to discuss new advancements in the treatment of obesity....
Genaera Corporation Presents Additional Promising Preclinical Type 2 Diabetes Data for Trodusquemine (MSI-1436) at American Diabetes Association
Genaera Corporation (NASDAQ: GENR) announced today a presentation by Genaera scientists of preclinical data on trodusquemine (MSI-1436), Genaera’s lead drug candidate for the treatment of type 2 diabetes and obesity, during the 68th Scientific Sessions of the American Diabetes Association in San Francisco, California.
The poster presentation, entitled “Trodusquemine (MSI-1436) Improves Glucose Tolerance and HbA1C Levels in Murine Models of Insulin Resistance” concluded that treatment with MSI-1436 leads to significant improvements in insulin sensitivity as well as lower HbA1C...
Genaera Corporation’s 2008 Annual Stockholder Meeting Results
Genaera Corporation (NASDAQ: GENR) today announced the results of its Annual Meeting of Stockholders held on May 29, 2008. Proxies representing a majority of the shares voted at the Annual Meeting were cast in favor of the resolutions brought before the stockholders.
As a result, at the meeting:
- John L. Armstrong, Jr., R. Frank Ecock, Zola P. Horovitz, Ph.D., Mitchell D. Kaye,
Osagie O. Imasogie and...
Genaera Corporation Announces First Quarter Financial Results
Genaera Corporation (NASDAQ: GENR) today announced its financial results for the quarter ended March 31, 2008. The net loss for the quarter ended March 31, 2008 was $4.3 million, or $(0.24) per basic and diluted share, as compared to a net loss of $4.2 million, or $(0.24) per basic and diluted share, for the quarter ended March 31, 2007.
Genaera’s research and development expenses for the quarter ended March 31, 2008 were $3.8 million compared to $3.5 million for...
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...