R59- GERN
No news that I know of. Stock has been cut in half over the last year, while Institutions keep buying. Nasdaq.com shows Institutional ownership at an all time high of 68% as of Sept 30, 2023. Plain and simple, GERN is being played with, and big pharma has every reason to want to keep the stock down. I wouldn't be surprised to see the stock go to $1.50 before the FDA announcement on June 10. Sickening watching the stock, as I know they have the best drug in the world(Imetelstat) to treat MDS leukemia, and experts expect near $1B/year in revenues by 2028, assuming FDA approval. There is only one of other company with a drug to treat MDS, and that's Reblozyl by Bristol Myers. However Imetelstat treats 4 times as many MDS patients, and is more effective in addition. The company expects peak sales to reach $3B/year by 2030 ! Assuming their infusion receives the same margins as normal, I come up with around $1 in eps, on $1B in revenues. Just imagine what GERN could be worth if it gets FDA approval. In addition, they are in phase 3 for using Imetelstat for another blood cancer called Myelofibrosis(MF), which no one in the world has a drug for.
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