RBC maintains Genaera at sector perform

Genaera Corp. was kept at sector perform, speculative risk, by RBC Capital Markets analyst Michael J. Yee. The company is expecting data from its Study 212 by the end of the first-quarter 2007 instead of the fourth-quarter 2006 as originally expected. Enrollment in the trial is slower than management's expectations due to off-label use of Avastin and the launch of Lucentis. Yee kept the sector perform rating in light of an unclear efficacy profile, an uncertain clinical and regulatory development plan and the need for new phase 3 trials. Shares of the Plymouth Meeting, Pa.-based biopharmaceutical company were unchanged at $0.40. (Nasdaq: GENR)

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