Welcome to our dedicated page for Geron news (Ticker: GERN), a resource for investors and traders seeking the latest updates and insights on Geron stock.
Geron Corporation reports recurring developments as a commercial-stage biopharmaceutical company focused on hematologic malignancies. Its first-in-class telomerase inhibitor RYTELO (imetelstat) is approved in the United States and European Union for certain adult patients with lower-risk myelodysplastic syndromes with transfusion-dependent anemia.
Company updates commonly cover RYTELO net product revenue, U.S. commercialization, financial results and guidance, and continued development of imetelstat in JAK-inhibitor relapsed or refractory myelofibrosis and other hematologic malignancies. Geron news also includes investor conference participation, Nasdaq inducement grants, board appointments, executive leadership changes, and restructuring-related business updates.
Geron Corporation (Nasdaq: GERN) reported its Q1 2020 financial results, posting a net loss of $16.4 million, or $0.08 per share, compared to $10.1 million, or $0.05 per share, in Q1 2019. Revenues decreased slightly to $52,000 from $57,000. Operating expenses rose to $16.9 million, with R&D expenses increasing to $10.8 million due to higher clinical development costs. As of March 31, 2020, Geron held $133 million in cash and securities, bolstered by a recent $140 million public offering, providing operational funds into 2022. Revised guidance indicates a 2020 operating expense burn of $70 to $75 million due to COVID-19 measures.
Geron Corporation (Nasdaq: GERN) has successfully closed a public offering of 107,049,375 shares of common stock and 8,335,239 pre-funded warrants, along with warrants for 57,692,307 shares. The offering was priced at $1.30 per share and raised approximately $140 million in net proceeds. These funds will be utilized to support the ongoing IMerge Phase 3 clinical trial for lower-risk myelodysplastic syndromes and a planned Phase 3 trial for refractory myelofibrosis, alongside general corporate needs. The offering was managed by Stifel and MTS Health Partners.
Geron Corporation (Nasdaq: GERN) announced a public offering of 107,049,375 shares of common stock and pre-funded warrants, along with warrants for an additional 57,692,307 shares, priced at $1.30 each. The offering aims to generate approximately $150 million in gross proceeds to fund ongoing clinical trials and general corporate purposes. The offering is anticipated to close on or about May 27, 2020. This move follows Geron's focus on developing its telomerase inhibitor, imetelstat, in hematologic malignancies, amid standard market conditions.
Geron Corporation (Nasdaq: GERN) announced plans for an underwritten public offering of its common stock and accompanying warrants. The offering is subject to market conditions, and the final terms remain uncertain. Stifel and MTS Health Partners will manage the offering, following a previously filed shelf registration statement with the SEC. The company, focused on developing imetelstat for hematologic malignancies, emphasizes the need for additional capital to fund operations and warns of risks related to the offering's completion and market conditions.
Geron Corporation (Nasdaq: GERN) announced plans for a Phase 3 clinical trial in refractory myelofibrosis (MF) with overall survival as the primary endpoint, expected to start in Q1 2021. The trial will evaluate imetelstat in about 320 patients who are refractory to JAK inhibitors. Additionally, Geron aims to complete patient enrollment in the ongoing IMerge Phase 3 trial for lower risk myelodysplastic syndromes (MDS) by Q1 2021. The company revised its 2020 operating expenses guidance to $70-$75 million due to COVID-19 impacts and trial preparations.