Geron Corporation Reports First Quarter 2026 Financial Results and Recent Business Highlights
Rhea-AI Summary
Geron (Nasdaq: GERN) reported Q1 2026 results with RYTELO net product revenue of $51.8M and a reduced net loss of $3.6M ($0.01/share). Cash and marketable securities were $341.0M at March 31, 2026. 2026 guidance reiterated: RYTELO revenue $220M–$240M and total operating expenses $230M–$240M. Key commercial and clinical progress includes demand growth, NCCN chemotherapy order template inclusion, ongoing IMpactMF Phase 3, and leadership additions.
Positive
- RYTELO net product revenue of $51.8M in Q1 2026
- RYTELO demand growth of 6% versus Q4 2025
- Ordering accounts increased ~12% to ~1,450
- Inclusion in NCCN Chemotherapy Order Templates for LR‑MDS
- Cash, cash equivalents and marketable securities of $341.0M
- Reiterated 2026 RYTELO revenue guidance of $220M–$240M
Negative
- Cash and marketable securities declined from $401.1M to $341.0M
- 2026 total operating expense guidance ($230M–$240M) overlaps or exceeds revenue range
- Net loss remains at $3.6M in Q1 2026 despite improvement
News Market Reaction – GERN
In the May 6 session, GERN declined 4.24%, reflecting a moderate negative market reaction. Argus tracked a peak move of +5.0% during that session. Argus tracked a trough of -9.7% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 25 | Q4/FY 2025 results | Positive | -11.8% | Reported strong 2025 RYTELO revenue, solid cash, reiterated 2026 guidance. |
| Nov 05 | Q3 2025 results | Positive | -5.2% | Q3 revenue growth, narrowed net loss, lower 2025 opex guidance and trial progress. |
| Aug 06 | Q2 2025 results | Positive | +15.8% | Strong Q2 RYTELO revenue, reduced loss, high cash and IMpactMF enrollment. |
| May 07 | Q1 2025 results | Neutral | -0.8% | Q1 revenue dip on inventory drawdown, improved loss, EU approval and trial progress. |
| Feb 26 | Q4/FY 2024 results | Positive | -32.1% | Strong Q4 launch revenue, large net loss, high opex and European progress. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have often been fundamentally positive but followed by negative price reactions, with a mix of alignment and divergence.
Across the last five earnings releases, Geron highlighted steady RYTELO revenue growth, narrowing net losses, and a strong cash position, alongside continued progress in the Phase 3 IMpactMF trial. Prior updates showed RYTELO quarterly revenue rising from $39.4M to the high‑$40M range and cash balances generally above $400M. Despite mostly constructive fundamentals and lowered expense guidance, share reactions frequently skewed negative, making today’s positive response to Q1 2026 results notable versus this history.
Key Terms
myelodysplastic syndromes medical
cytopenias medical
time without transfusion reliance medical
Phase 3 medical
real-world evidence medical
Chemistry, Manufacturing and Controls technical
net product revenue financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Achieved
Reiterated 2026 RYTELO net product revenue and total operating expenses expected to be in the ranges of
Strengthened leadership team with appointments of Timothy Williams as Executive Vice President, Chief Legal Officer and Corporate Secretary and Patricia S. Andrews and Constantine Chinoporos to Board of Directors
Ended Q1 2026 with cash, cash equivalents, restricted cash and marketable securities of
Company to host conference call and webcast today, May 6, 2026, at 8:00 a.m. ET
FOSTER CITY, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Geron Corporation (Nasdaq: GERN), a commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer, today reported financial results for the first quarter of 2026 and recent business highlights.
“We are encouraged by RYTELO demand and net revenue growth in the first quarter. Our refocused commercial strategy, energized team, and commitment to execute with excellence position us well to continue building on these results,” said Harout Semerjian, President and Chief Executive Officer of Geron. “We also made progress on our potential European lower-risk MDS commercial strategy for RYTELO, with the goal of maximizing its value while preserving pricing integrity in the U.S. We plan to provide an update on our European commercial plans by the end of the year. Our 2026 priorities remain focused on growing RYTELO net revenue in the U.S., pursuing pathways to bring RYTELO to patients outside of the U.S., advancing our Phase 3 IMpactMF trial, remaining financially disciplined, and evaluating opportunistic innovation, as we work towards building a leading hematology company.”
Recent Business Highlights
- Reported RYTELO net product revenue of
$51.8 million in the first quarter of 2026.- Grew RYTELO demand by
6% in the first quarter 2026, compared to the fourth quarter 2025. - Increased ordering accounts by roughly
12% in the first quarter 2026 to approximately 1,450.
- Grew RYTELO demand by
- Achieved inclusion of imetelstat to the National Comprehensive Cancer Network® (NCCN®) Chemotherapy Order Templates, positioning imetelstat as an active therapeutic for lower-risk myelodysplastic syndromes/neoplasms (LR-MDS).
- Advanced investigator-sponsored and real-world evidence trials focusing on RYTELO’s mechanistic studies, combinations and sequencing, earlier-line use and new settings. Initial data is expected in the second half of 2026.
- Published a manuscript in Blood Cancer Journal titled “Association between treatment-emergent cytopenias and clinical responses to imetelstat in lower-risk myelodysplastic syndromes” that expands on the 2025 American Society of Hematology oral presentation of pooled analysis from the IMerge population that suggests treatment-emergent cytopenias may reflect on-target effects associated with meaningful clinical outcomes, including hemoglobin increases and transfusion independence in LR-MDS.
- Published a manuscript in Blood Neoplasia titled “Increased duration of time without transfusion reliance with imetelstat vs placebo in the phase 3 IMerge trial” that found using time without transfusion reliance (TWiTR) as a novel method for evaluating health-related quality of life (HR-QOL) demonstrated the impact imetelstat has on the overall health and wellbeing of patients with LR-MDS in the IMerge study.
- Continued to invest in Chemistry, Manufacturing and Controls to strengthen RYTELO’s supply chain with the validation of a second supplier.
- Strengthened the leadership team with the appointments of Timothy Williams as Executive Vice President, Chief Legal Officer and Corporate Secretary and Patricia S. Andrews and Constantine Chinoporos to Geron’s Board of Directors.
First Quarter 2026 Financial Results
Cash and Marketable Securities
As of March 31, 2026, Geron had approximately
Net Loss
For the three months ended March 31, 2026, the Company reported a net loss of
Revenues
Total product revenue, net for the three months ended March 31, 2026, was
Total revenues for the three months ended March 31, 2026 was
Costs and Operating Expenses
Total costs and operating expenses for the three months ended March 31, 2026, were
Cost of goods sold was approximately
Research and development expenses for the three months ended March 31, 2026, were
Selling, general and administrative expenses for the three months ended March 31, 2026, were
2026 Financial Guidance
For fiscal year 2026, the Company expects RYTELO net product revenue to be in the range of
Based on current operating plans and assumptions, the Company believes that its existing cash, cash equivalents, restricted cash and marketable securities, together with anticipated net revenues from U.S. sales of RYTELO, will be sufficient to fund projected operating requirements for the foreseeable future.
Conference Call
Geron will host a conference call at 8:00 a.m. ET on Wednesday, May 6, 2026, to discuss business updates and first quarter 2026 financial results.
A live webcast of the conference call will be available on the “Investors & Media” page of the Company’s website at www.geron.com. A replay of the webcast will be archived and available on the Company's website.
About RYTELO (imetelstat)
RYTELO (imetelstat) is an oligonucleotide telomerase inhibitor approved in the U.S. for the treatment of adult patients with lower-risk myelodysplastic syndromes (LR-MDS) with transfusion-dependent anemia requiring four or more red blood cell units over eight weeks who have not responded to or have lost response to or are ineligible for erythropoiesis-stimulating agents (ESAs). It is indicated to be administered as an intravenous infusion over two hours every four weeks.
In addition, RYTELO is approved in the European Union as a monotherapy for the treatment of adult patients with transfusion-dependent anemia due to very low, low or intermediate risk myelodysplastic syndromes without an isolated deletion 5q cytogenetic (non-del 5q) abnormality and who had an unsatisfactory response to or are ineligible for erythropoietin-based therapy.
RYTELO is a first-in-class treatment that works by inhibiting telomerase enzymatic activity. Telomeres are protective caps at the end of chromosomes that naturally shorten each time a cell divides. In LR-MDS, abnormal bone marrow cells often express the enzyme telomerase, which rebuilds those telomeres, allowing for uncontrolled cell division. Developed and exclusively owned by Geron, RYTELO is the first and only telomerase inhibitor approved by the U.S. Food and Drug Administration and the European Commission.
Please see RYTELO (imetelstat) full Prescribing Information, including Medication Guide, available at https://pi.geron.com/products/US/pi/rytelo_pi.pdf.
About Geron
Geron is a commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer. Our first-in-class telomerase inhibitor RYTELO® (imetelstat) is approved in the United States and the European Union for the treatment of certain adult patients with lower-risk myelodysplastic syndromes with transfusion dependent anemia. We are also conducting a pivotal Phase 3 clinical trial of imetelstat in JAK-inhibitor relapsed/refractory myelofibrosis, as well as studies in other hematologic malignancies. To learn more, visit www.geron.com or follow us on LinkedIn.
Use of Forward-Looking Statements
Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such statements, include, without limitation, those regarding: (i) Geron’s 2026 financial guidance, including its expected full year 2026 RYTELO net product revenue range and total operating expense range; (ii) Geron being positioned to build in the future on RYTELO demand and net revenue growth in the first quarter of 2026; (iii) Geron’s potential European lower-risk MDS commercial strategy for RYTELO; (iv) Geron’s 2026 priorities, including remaining focused on growing RYTELO net revenue in the U.S., pursuing pathways to bring RYTELO to patients outside of the U.S., advancing its Phase 3 IMpactMF trial, remaining financially disciplined, and evaluating opportunistic innovation; (v) the expected timing of initial data from investigator-sponsored and real-world evidence trials focusing on RYTELO’s mechanistic studies, combinations and sequencing, earlier-line use and new settings; (vi) the pooled analysis from the IMerge population that suggests treatment-emergent cytopenias may reflect on-target effects associated with meaningful clinical outcomes, including hemoglobin increases and transfusion independence in LR-MDS; (vii) Geron’s belief that its existing cash, cash equivalents, restricted cash and marketable securities, together with anticipated net revenues from U.S. sales of RYTELO, will be sufficient to fund projected operating requirements for the foreseeable future; and (viii) and other statements that are not historical facts, constitute forward-looking statements. These forward-looking statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties, include, without limitation, risks and uncertainties related to: (a) whether Geron is successful in commercializing RYTELO for the treatment of certain patients with lower-risk MDS with transfusion dependent anemia and achieves market acceptance across the breadth of the eligible patient segments in RYTELO’s approved indication; (b) whether the FDA and European Commission will approve imetelstat for other indications with labeling claims that are necessary or desirable for the successful commercialization of RYTELO and without significant labeling restrictions or requirements in an approved label; (c) Geron’s plans to commercialize RYTELO outside of the U.S., including Geron’s lack of experience selling, marketing and commercializing an approved drug outside of the U.S., and risks related to operating outside of the U.S.; (d) Geron’s future opportunities and plans, including the uncertainty of future revenues, expenses and other financial performance and results, and the related risk Geron may be unable to meet its 2026 financial guidance; (e) whether Geron overcomes potential delays and other adverse impacts that may be caused by enrollment, clinical, safety, efficacy, technical, scientific, intellectual property, manufacturing, supply chain, pricing, coverage and reimbursement, market penetration, regulatory and healthcare challenges in order to obtain and maintain the financial resources for and meet expected timelines and planned milestones; (f) whether regulatory authorities permit the further development of imetelstat on a timely basis, or at all, without any clinical holds; (g) whether any future safety or efficacy results of RYTELO treatment cause its benefit-risk profile to become unacceptable; (h) whether imetelstat actually demonstrates disease-modifying activity in patients, including transfusion independence in LR-MDS, and the ability to target the malignant stem and progenitor cells of the underlying disease; (i) whether Geron meets its post-marketing requirements and commitments for RYTELO; (j) whether there are failures or delays in manufacturing or supplying sufficient quantities of RYTELO (imetelstat) or other clinical trial materials that negatively impact commercialization of RYTELO or the conduct and timing of clinical trials; (k) that the expected timing for initial data from investigator-sponsored and real-world evidence trials may be delayed, perhaps significantly; (l) that the projected timing for the interim and final analyses of the Phase 3 IMpactMF trial may prove to be incorrect and may be delayed, perhaps significantly, depending on actual death rates in the trial which are beyond Geron’s control; (m) whether Geron stays in compliance with and satisfies its obligations under its debt and synthetic royalty financing agreements; (n) whether Geron successfully manages the changes in its workforce and realizes expected operating expense savings resulting from its completed strategic restructuring plan; and (o) as it relates to Geron’s belief as to the sufficiency of its cash resources, if Geron does not generate net revenues from commercial sales of RYTELO at the levels it anticipates, if it experiences unforeseen events or chooses to make other investments in its business, or if its assumptions regarding its projected operating expenses are otherwise incorrect, Geron may require additional funding, which may not be available to Geron on commercially-reasonable terms or at all. Additional information on the above risks and uncertainties and additional risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in Geron’s filings and periodic reports filed with the Securities and Exchange Commission under the heading “Risk Factors” and elsewhere in such filings and reports, including Geron’s annual report on Form 10-K for the year ended December 31, 2025, and subsequent filings and reports by Geron, including its upcoming quarterly report on Form 10-Q for the quarter ended March 31, 2026. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, Geron disclaims any obligation to update these forward-looking statements to reflect future information, events, or circumstances.
| GERON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
| Three Months Ended March 31 | |||||||
| (In thousands, except per share data) | 2026 | 2025 | |||||
| (Unaudited) | (Unaudited) | ||||||
| Revenues: | |||||||
| Product revenue, net | 51,771 | 39,436 | |||||
| Royalties | 66 | 167 | |||||
| 51,837 | 39,603 | ||||||
| Costs and operating expenses: | |||||||
| Cost of goods sold | 1,692 | 1,206 | |||||
| Research and development | 14,956 | 15,078 | |||||
| Selling, general and administrative | 35,425 | 40,023 | |||||
| Restructuring charges | (394 | ) | — | ||||
| Total costs and operating expenses | 51,679 | 56,307 | |||||
| Loss from operations | 158 | (16,704 | ) | ||||
| Interest income | 3,421 | 5,152 | |||||
| Interest expense | (7,147 | ) | (8,200 | ) | |||
| Other income and (expense), net | (74 | ) | (83 | ) | |||
| Net loss | $ | (3,642 | ) | $ | (19,835 | ) | |
| Basic and diluted net loss per share: | |||||||
| Net loss per share | $ | (0.01 | ) | $ | (0.03 | ) | |
| Shares used in computing net loss per share | 669,375 | 665,905 | |||||
| GERON CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
| (In thousands) | March 31, 2026 | December 31, 2025 | |||
| (Unaudited) | (Note 1) | ||||
| Current assets: | |||||
| Cash, cash equivalents and restricted cash | $ | 70,779 | $ | 79,440 | |
| Current marketable securities | 243,506 | 280,359 | |||
| Other current assets | 184,246 | 160,472 | |||
| Total current assets | 498,531 | 520,271 | |||
| Noncurrent marketable securities | 26,686 | 41,289 | |||
| Property and equipment, net | 1,000 | 884 | |||
| Deposits and other assets | 7,903 | 8,096 | |||
| $ | 534,120 | $ | 570,540 | ||
| Current liabilities | $ | 73,570 | $ | 111,542 | |
| Noncurrent liabilities | 231,442 | 233,126 | |||
| Stockholders’ equity | 229,108 | 225,872 | |||
| $ | 534,120 | $ | 570,540 | ||
Note 1: Derived from audited financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2025.
Investors and Media
Dawn Schottlandt
Senior Vice President, Investor Relations and Corporate Affairs
dschottlandt@geron.com
