Shares of Geron rose almost 16% on Friday before market, a day after getting its first approval from the U.S. Food and Drug Administration for a drug to treat transfusion-dependent anemia in patients with a group of blood cancers.
Geron Corporation's unique product, Imetelstat, could potentially bring real benefits to hematological diseases with a Total Addressable Market value of $7 billion by 2031. Clinical studies have shown statistical evidence supporting the effectiveness of Imetelstat in inhibiting telomerase and treating diseases. The FDA Oncologic Drugs Advisory Committee voted in favor of Imetelstat (12 to 2) for patients with MDS.