Biotech Values

[biopearl]

Re Geron:Can a fellow boarder help me make sense of something that happened recently re Geron. They have allowed a "poison pill" provision to lapse. The stock has been hammered. They have pretty big cash reserves around 190 mil as quater close but are burning through the cash with multiple phase II studies evaluating imetelstat, a telomerase inhibitor for cancer treatment. Geron has been discussed on this board before and I know Dew has not been too interested in it when I have skirted the subject in the distant past. The embryonic stem cell therapies look very promising but are a long way off with only one cell type in phase I for spinal cord injury. From a practical point of view what does it actually mean that the poison pill provision is no more. Does it mean the company is inviting a take over? They have an extensive patent portfolio and would be very attractive but surely the telomerase therapies/stem cell therapies have considerable value. Any help would be appreciated. Regards, stay cool during the melt down. bp