Genaera Corp. stockholders approved the company's plans for a reverse stock split.

The Plymouth Meeting, Pa., biopharmaceutical company's board of directors now have the discretionary authority to effect a reverse stock split of the company's issued and outstanding common stock based on one of the following five ratios: one-for-six, one-for-seven, one-for-eight, one-for-ten and one-for-twelve.

Any of the splits would, all other things being equal, put the stock -- which was trading Wednesday at 37 cents -- comfortably over NASDAQ's $1 per share minimum bid price requirement.

The board's authority will be in effect until the company's 2007 annual meeting.

Genaera (NASDAQ GENR) announced the results of the vote Tuesday night following a special meeting of its stockholders.

The company has products in development for the treatment of the eye, cancer, respiratory disorders and obesity.