Geron Corp (GERN)

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TRADING THE BIOTECH NEWS: GERON CORPORATION (NASDAQ:GERN)
By KATHERINE BLACK — SEPTEMBER 9, 2016
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Geron Corporation (NASDAQ:GERN) dropped 0% by the close of business day at $3.05. For the current quarter, the 6 Wall Street analysts issuing adjusted earnings per share outlook have a consensus estimate of -$0.06/share, which would compare with $0.17 in the year-ago quarter. The percentage movement in the price over the last 12 months remained -5.57%. The price range in those 12 months had a highest hit of $5.3 while lowest level in that period was $2.3. Latest closing price was 12.5% above its 50-day moving average and -2.92% below its 200-day moving average.

Geron Corporation (NASDAQ:GERN) on August 3, 2016 reported financial results for the three and six months ended June 30, 2016.

For the second quarter of 2016, the company reported a net loss of $8.6 million, or $0.05 per share, compared to $9.4 million, or $0.06 per share, for the comparable 2015 period. Net loss for the first six months of 2016 was $17.5 million, or $0.11 per share, compared to $18.7 million, or $0.12 per share, for the comparable 2015 period. The company ended the second quarter of 2016 with $136.4 million in cash and investments and has not incurred any impairment charges on its marketable securities portfolio.

Revenues for the three and six months ended June 30, 2016 were $211,000 and $960,000, respectively, compared to $251,000 and $788,000 for the comparable 2015 periods. Revenues for the three and six month periods ending June 30, 2016 and 2015 included royalty and license fee revenues under various non-imetelstat license agreements.

Total operating expenses for the three and six months ended June 30, 2016 were $9.1 million and $18.9 million, respectively, compared to $9.7 million and $19.7 million for the comparable 2015 periods. Research and development expenses for the three and six months ended June 30, 2016 were $4.6 million and $9.6 million, respectively, compared to $4.8 million and $9.8 million for the comparable 2015 periods.

General and administrative expenses for the three and six months ended June 30, 2016 were $4.5 million and $9.3 million, respectively, compared to $4.0 million and $8.6 million for the comparable 2015 periods. Operating expenses for the three and six months ended June 30, 2015 also included restructuring charges of $941,000 and $1.3 million, respectively, in connection with the company’s organizational resizing announced in March 2015.



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