Replies to post #158410 on Biotech Values

[poorgradstudent]

GERN:

Are you still holding on in belief that MF data, or perhaps AML/MDS in due time, will be positive?

I lightened the amount I hold simply because the number of potential catalysts for this year has been reduced. Therefore, I liquidated that portion of the investment and will seek to put those dollars into something else. The remaining Geron I have I will keep as a speculation. I don't think this one is over, but no sense in holding a large position this far from ASH. There are companies with > 1B MCs that I can put the money into in the meantime and actually watch it appreciate.

[bladerunner1717]

Piper Jaffray downgrades GERN (from March 14th)

What were the "lab abnormalities?"


UPDATE: Piper Jaffray Downgrades Geron Corporation to Neutral on Possible Safety Red Flags
David Johnson, Benzinga Staff Writer
March 14, 2013 7:32 AM


Piper Jaffray downgraded Geron Corporation (NASDAQ: GERN [FREE Stock Trend Analysis]) from Overweight to Neutral and lowered the price target from $3.00 to $1.50.

Piper Jaffray analyst Charles C. Duncan wrote, "Geron reported 4Q/FY12 earnings yesterday that were largely in-line with our and consensus expectations. Importantly, the company ended the year with $96MM in cash and considering 2013 cash burn guidance of $33MM, we project this can fund operations into 2015. We expect R&D spending to increase in 2014 with the expanded clinical studies of imetelstat. Updates from the investigator-sponsored trial (IST) in myelofibrosis (MF) are expected near YE13. However, given an ongoing investigation into lab value abnormalities from the essential thrombocythemia (ET) study read out at ASH '12, and opaque visibility on imetelstat progress in MF, we are lowering our rating to Neutral and lowering our price target from $3 to $1.50 for Geron."

Geron Corporation closed at $1.29 on Wednesday.

Read more: http://www.benzinga.com/analyst-ratings/analyst-color/13/03/3415912/update-piper-jaffray-downgrades-geron-corporation-to-neu?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+benzinga+%28Benzinga+News+Feed%29&Filter=GERN&Fid=GERN##ixzz2NtYG72BE