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GENAERA CORPORATION ANNOUNCES 2005 FINANCIAL RESULTS

March 1, 2006

Genaera Corporation today announced its financial results for the year and quarter ended December 31, 2005. The net loss for the year ended December 31, 2005 was $26.4 million, or $(0.44) per share basic and diluted, as compared to a net loss of $17.9 million, or $(0.34) per share basic and diluted, for the year ended December 31, 2004.
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