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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (1926)	10/3/2007 2:41:16 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

GENR Is having an intraday UG after some news. bigcharts.marketwatch.com Genaera Corporation Announces Licensing of Exclusive Rights to Pexiganan, a Novel Anti-Infective Drug Candidate, by Macrochem Corporation Wednesday October 3, 1:27 pm ET Supports Genaera's Strategic Focus on Core Programs in Obesity and Asthma PLYMOUTH MEETING, Pa., Oct. 3 /PRNewswire-FirstCall/ -- Genaera Corporation (Nasdaq: GENR - News) today announced that MacroChem Corporation (OTC Bulletin Board: MACM - News) has exercised the July 2007 option to acquire from Genaera the exclusive worldwide license rights for use of pexiganan as a drug. Pexiganan is a novel, small peptide anti-infective originally discovered by Genaera scientists which was developed for the treatment of patients with infected diabetic foot ulcers. Under the terms of the license agreement, MacroChem has agreed to pay Genaera an initial fee of $1 million dollars in several installments through February 1, 2008. The terms of the agreement also include $7 million dollars in milestone payments to Genaera upon the achievement of clinical milestones including the start of phase 3 clinical trials and regulatory approval. The agreement further includes sales-based milestones of up to $35 million dollars, and 10% royalty payments on net sales. In addition, MacroChem will assume all clinical development, manufacturing and regulatory activities for pexiganan. GENR also has an agreement with MedImmune/Astra Zeneca for its anti-IL-9 antibody (MEDI-528), which is phase 2 trials. Snip GENR has been cutting its loss for 4 consecutive Qs. It had an impressive increase in revenues in the last Q (June)& there is also persistent insiders buying since May. The stock had a spike up to 4.38 on Aug 16. The double top on Apr 24- Apr 26 was at the 3.90 level.(Those are some resistance points to look for.) But since GENR doesn't have significant LTD, the R/R doesn't look bad at present levels.<g> bigcharts.marketwatch.com Bernard