Genaera Corporation

(NASDAQ:GENR)

	Sep 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007
Operating revenue
Total Revenue	92	45	1,309	77
Operating Revenue	92	45	1,309	77
Adjustments To Revenue	—	—	—	—
Cost Of Sales	-61	-28	-57	2
Cost Of Sales With Depreciation	—	—	—	—
Gross Operating Profit	153	73	1,366	75
Operating Expenses
Research And Development Expenses	2,090	3,549	3,838	3,640
Selling General And Administrative Expenses	1,464	1,378	2,185	2,534
Advertising Expenses	—	—	—	—
Operating Income Before Depreciation	-3,401	-4,854	-4,657	-6,099
Operating Income	-3,462	-4,882	-4,714	-4,819
Depreciation	61	28	57	-2
Depreciation Unreconciled	—	—	—	—
Amortization	—	—	—	—
Amortization Of Intangibles	—	—	—	—
Operating Income After Depreciation	-3,462	-4,882	-4,714	-6,097
Non Operating Expenses
Interest Expense	—	—	—	—
Pre Tax Income	-3,397	-4,778	-4,538	-5,830
Income Taxes	—	—	-281	—
Minority Interest	—	—	—	—
Income Before Income Taxes	-3,397	-4,778	-4,538	10,044
Net Income From Continuing Operations	-3,397	-4,778	-4,257	-5,830
Net Income From Discontinued Operations	—	—	—	—
Net Income From Total Operations	-3,397	-4,778	-4,257	-5,830
Non Recurring Events
Extraordinary Income Losses	—	—	—	—
Income From Cummulated Effect Of Accounting Changes	—	—	—	—
Income From Tax Loss Carryforward	—	—	—	—
Other Gains And Losses	—	—	—	—
Total Net Income	-3,397	-4,778	-4,257	-5,830
Normalized Income	-3,397	-4,778	-4,257	-5,830
NetIncome Available For Common	-3,397	-4,778	-4,257	-5,830
Preferred Dividends	—	—	—	—
Excise Taxes	—	—	—	—

	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005	Dec 31, 2004
Operating revenue
Total Revenue	2,737	892	446	873
Operating Revenue	2,737	892	446	873
Adjustments To Revenue	—	—	—	—
Cost Of Sales	-353	-394	-373	-195
Cost Of Sales With Depreciation	—	—	—	—
Gross Operating Profit	3,090	1,286	819	1,068
Operating Expenses
Research And Development Expenses	13,097	17,669	21,792	14,004
Selling General And Administrative Expenses	6,792	5,996	5,891	4,951
Advertising Expenses	—	—	—	—
Operating Income Before Depreciation	-16,799	-22,379	-26,864	-17,887
Operating Income	-15,874	-22,773	-27,237	-18,082
Depreciation	353	394	373	195
Depreciation Unreconciled	—	—	—	—
Amortization	—	—	—	—
Amortization Of Intangibles	—	—	—	—
Operating Income After Depreciation	-17,152	-22,773	-27,237	-18,082
Non Operating Expenses
Interest Expense	—	—	—	2
Pre Tax Income	-15,874	-21,234	-26,361	-17,873
Income Taxes	-147	—	—	—
Minority Interest	—	—	—	—
Income Before Income Taxes	—	—	—	—
Net Income From Continuing Operations	-15,727	-21,234	-26,361	-17,873
Net Income From Discontinued Operations	—	—	—	—
Net Income From Total Operations	-15,727	-21,234	-26,361	-17,873
Non Recurring Events
Extraordinary Income Losses	—	—	—	—
Income From Cummulated Effect Of Accounting Changes	—	—	—	—
Income From Tax Loss Carryforward	—	—	—	—
Other Gains And Losses	—	—	—	—
Total Net Income	-15,727	-21,234	-26,361	-17,873
Normalized Income	-15,727	-21,234	-26,361	-17,755
NetIncome Available For Common	-15,727	-21,234	-26,361	-17,873
Preferred Dividends	—	—	—	—
Excise Taxes	—	—	—	—