Geron shares took a hit today as news broke that FDA staff reviewers have raised red flags about the potential risks of the company’s anemia drug Imetelstat. The concerns stem from the duration of red blood cell transfusion independence achieved by patients in a late-stage trial for lower risk myelodysplastic syndromes (MDS). The FDA staff pointed out that an 8-week transfusion independence period may not be clinically meaningful in lower risk MDS, with experts suggesting a 16-week or longer period would be more significant. Geron had high hopes for Imetelstat, submitting a New Drug Application based on positive Phase 3 trial results. However, the FDA’s concerns about the balance of benefits and risks indicate ongoing scrutiny of the drug’s efficacy and safety.
Geron Corporation (GERN) Stock Price Drops by 17.29% on March 12, 2024: Factors to Consider Before Investing
On March 12, 2024, Geron Corporation (GERN) experienced a significant drop in its stock price, with shares decreasing by $0.37, or 17.29%, since the previous market close. The stock opened at $1.91, which was $0.23 lower than its previous close. The drop in GERN’s stock price on March 12 may have been influenced by a variety of factors, such as market conditions, company news, or broader economic trends. Investors may have reacted to negative news or concerns about the company’s performance, leading to the significant decrease in share price. For investors considering GERN as a potential investment, it is important to carefully research the company’s financials, performance, and outlook before making any decisions. It is also advisable to consult with a financial advisor to assess the risks and potential rewards of investing in GERN or any other stock.
GERN Corporation Sees Significant Decrease in Total Revenue and Net Income in Q4 2024
On March 12, 2024, Geron Corporation (GERN) saw a significant decrease in its total revenue compared to the previous year and quarter. According to data from CNN Money, the company reported total revenue of $237.00K for the past year, which is a 60.23% decrease from the previous year. In the fourth quarter, GERN reported total revenue of $23.00K, representing an 85.98% decrease from the previous quarter.
Similarly, GERN also reported a decrease in net income for both the past year and quarter. The company reported a net income of -$184.13M for the past year, which is a 29.76% decrease from the previous year. In the fourth quarter, GERN reported a net income of -$51.97M, representing a 16.0% decrease from the previous quarter.
Despite the decrease in net income, GERN did see a slight increase in earnings per share (EPS) compared to the previous year. The company reported an EPS of -$0.32 for the past year, which is a 13.39% increase from the previous year. However, in the fourth quarter, GERN reported an EPS of -$0.09, representing a 13.07% decrease from the previous quarter.
Overall, GERN’s stock performance on March 12, 2024, was impacted by the decrease in total revenue and net income. Investors may want to closely monitor the company’s financial performance in the coming quarters to determine if these trends continue or if there are potential opportunities for growth.
