Genaera warned by Nasdaq on listing compliance

New York, June 27 - Genaera Corp. said it received notification from Nasdaq that it has 180 days to regain compliance with the minimum bid price requirements for continued listing.

The warning means Genaera's stock must close at $1.00 per share or more for at least 10 consecutive trading days during the 180 days which end on Dec. 26, 2006.

Nasdaq issued the warning because Genaera's stock closed below the $1.00 level for the past 30 consecutive trading days.

If Genaera's stock fails to meet the bid price test in the 180 days but the Plymouth Meeting, Pa., biopharmaceutical company is otherwise in compliance with the listing standards it will receive an additional 180 days to meet the bid price standard.

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