Tuesday, September 13, 2016 3:35:11 AM
By Jon C. Ogg-September 12, 2016 12:45 pm EDT
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Geron Corp. (NASDAQ: GERN) has never been a stock without controversy. That controversy used to revolve around stem cells, but now it is a controversial stock for another reason. Investors never like to see a stock they own drop 17%, but there is at least one view that maybe the drop is an opportunity for those with longer-term views who remain bullish.
Monday’s largest losers included Geron, with a drop of 16.4% to $2.39, and its trading volume of 8.8 million shares at noon Eastern Time was already close to six times normal daily volume.
The driving force for the news was that Geron provided updates on the clinical trials being conducted by Janssen Research of the telomerase inhibitor imetelstat. Planned internal reviews of initial data from both trials have been completed by Janssen, and both trials are continuing in order to evaluate additional and more mature data.
To date, over 90 patients have been enrolled in the trial across both dosing arms. The IMbark trial was originally designed to evaluate two dose levels in approximately 200 patients. Janssen now plans to conduct an additional internal data review in the IMbark trial in the second quarter of 2017 to include a longer follow-up of patients at 24 weeks. Janssen expects to submit data from Part 1 of IMerge to be considered for presentation at a medical conference in the future. Geron also noted the IMerge Phase 2/3 trials by saying:
A report from Janney’s Roy Buchanan maintained a Buy rating with a $5 fair value estimate (down from $6.50). His take was that this process was never going to be an easy one and that IMerge in MDS is on track. His report said:
Geron shares were down almost 17% at $2.37 in the noon hour on Monday. Its 52-week trading range is $2.06 (also from Monday morning) to $5.30.
When analysts lower their price targets, it is considered a light downgrade, even if the formal rating was maintained. That being said, this still implies more than 100% in long-term potential upside if Buchanan’s view proves to be correct. Just don’t expect any major snap back or reversal of this drop any time in the coming days or weeks.
Blessings to All
TRUTH
I've never claimed to have all the answers but feel i'm beginning to corner the market in questions worthy of them.
Recent GERN News
- Geron to Announce First Quarter 2024 Financial Results on May 2, 2024 • Business Wire • 04/25/2024 08:30:00 PM
- Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 04/18/2024 08:30:00 PM
- Geron to Participate at Upcoming Investor Conferences in April • Business Wire • 04/03/2024 08:30:00 PM
- Geron Corporation Announces Pricing of $150 Million Underwritten Offering of Common Stock and Pre-Funded Warrants • Business Wire • 03/19/2024 01:07:00 PM
- Geron Announces FDA Oncologic Drugs Advisory Committee Votes in Favor of the Clinical Benefit/Risk Profile of Imetelstat for the Treatment of Transfusion-Dependent Anemia in Patients with Lower-Risk MDS • Business Wire • 03/14/2024 07:54:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 12:20:38 PM
- Geron Corporation Reports Business Highlights and Fourth Quarter and Full Year 2023 Financial Results • Business Wire • 02/28/2024 12:05:00 PM
- Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 02/22/2024 09:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:11:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:10:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:09:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:08:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:07:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:06:08 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 10:01:37 PM
- Geron to Announce Fourth Quarter and Full-Year 2023 Financial Results on February 28, 2024 • Business Wire • 02/14/2024 09:30:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 01:44:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 01:00:12 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/26/2024 04:49:40 PM
- Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 01/18/2024 09:30:00 PM
- Geron to Participate in the B. Riley Securities Virtual Oncology Conference • Business Wire • 01/12/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 01:25:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 12:04:57 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 12:04:09 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 12:02:51 AM
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