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DewDiligence

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DewDiligence

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Thursday, 03/25/2004 9:06:22 AM

Thursday, March 25, 2004 9:06:22 AM

Post# of 252484
Notable excerpt from GENR’s 2003 financial results PR:

http://biz.yahoo.com/prnews/040325/nyth064_1.html

>>
"Going forward, we plan to aggressively pursue the development of squalamine for "wet" age-related macular degeneration, our most-promising near-term opportunity," commented Roy C. Levitt, President and Chief Executive Officer of Genaera. "One of our most important 2004 corporate objectives is the initiation of several key U.S. macular degeneration clinical trials for squalamine. We continue to be engaged in active discussions regarding potential development partnerships and consider this effort to be another major corporate objective. We intend to elaborate more on the status of the squalamine macular degeneration program, including clinical updates, during the second quarter of 2004" [emphasis added].
<<

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Even with GENR’s strengthened balance sheet from recent financings, GENR does not on its own have the resources to conduct “several key U.S. macular degeneration clinical trials” in 2004, as indicated in Dr. Levitt’s quote. Hence, a reasonable inference is that GENR believes a partnership deal will get done relatively soon.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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