Geron (GERN) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.09 per share a year ago.
Geron's (GERN) shares rise on approval of its first drug. The FDA approves imetelstat for the treatment of adult patients with lower-risk MDS with transfusion-dependent anemia.
The U.S. Food and Drug Administration approved Geron's lead candidate on June 6, under the brand name Rytelo. Peak Rytelo sales could surpass $1 billion annually.
Geron (GERN) shares skyrocketed over 19% in intraday trading Friday after the Food and Drug Administration (FDA) approved the biopharma company's drug Rytelo for those with rare blood cancers.
The recent FDA approval of RYTELO™ (imetelstat) has propelled Geron Corporation NASDAQ: GERN into the spotlight, sparking a surge in Geron's stock price and attracting heightened attention from investors seeking opportunities within the healthcare sector and biotech sector. This momentous achievement marks a turning point for Geron and underscores the company's commitment to developing innovative therapies for complex diseases.
Geron (NASDAQ: GERN ) stock is heading higher on Friday after getting approval from the Food and Drug Administration (FDA) for RYTELO. RYTELO is the company's “adult patients with low- to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent ( TD ) anemia.
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.