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) 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.