UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K/A

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): 03/31/2009

Genaera Corporation

(Exact name of registrant as specified in its charter)

Commission File Number: 0-19651

DE		13-3445668
(State or other jurisdiction of		(IRS Employer
incorporation)		Identification No.)

5110 Campus Drive, Plymouth Meeting, PA 19462

(Address of principal executive offices, including zip code)

610.941.4020

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 31, 2009, the Company and Dr. Henry R. Wolfe entered into a separation agreement. Pursuant to the agreement, Dr. Wolfe is entitled to a lump sum severance payment of $250,000. The Company will also pay COBRA premiums on behalf of Dr. Wolfe for the twelve month period following his termination. Additionally, all of Dr. Wolfe's outstanding unvested options immediately vested upon termination and such vested options shall remain exercisable for the shorter of the twelve month period following his termination or the original term of such options.

EXPLANATORY NOTE

This Current Report on Form 8-K/A ("Form 8-K/A") amends the Current Report on Form 8-K filed by Genaera Corporation on April 3, 2009 (the "Original 8-K") to make certain changes to the description of the separation agreement contained in this Item 5.02 of the Original 8-K.

Signature(s)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Genaera Corporation


Date: April 03, 2009	By:	/s/ Leanne M. Kelly
		Leanne M. Kelly
		Senior Vice President and Chief Financial Officer

GENAERA CORP 8-K/A