A securities class action has been filed in the USDC — N.D.CA. against Geron Corporation (GERN) (“Geron” or the “Company”) securities between February 28, 2024, and February 25, 2025, both dates inclusive (the “Class Period”).
Geron, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cancer and chronic degenerative diseases. The Company’s sole product candidate is RYTELO (imetelstat), a telomerase inhibitor designed to prevent the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of lower-risk MDS and intermediate-2 or high-risk myelofibrosis. Geron categorizes treatment eligible patients with lower-risk MDS into three groups: (1) first-line patients ineligible for ESAs; (2) second-line ESA relapsed/refractory patients; and (3) third-line plus ESA relapsed/refractory patients.
The complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Rytelo’s potential; notably, that the lack of awareness for Rytelo, the burden of the continued monitoring requirement, and the impacts of seasonality and existing competition resulted in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting.
Following this news, the price of Geron’s common stock declined dramatically. From a closing market price of $2.37 per share on February 25, 2025, Geron’s stock price fell to $1.61 per share on February 26, 2025, a decline of about 32.07% in the span of just a single day.
If you purchased Geron securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.