by Christopher Freeburn | January 27, 2014 9:56 am
News that a trial of Geron‘s (GERN) new myelofibrosis and myeloid malignancy treatment had been closed to new patients, GERN stock plunged more than 13% in Monday morning trading.
GERN stock tumbled after regulatory filings revealed that enrollment of new patients in a Mayo Clinic study of imetelstat had been halted on Jan. 22. GERN also noted that about 20 patients had been removed from the study since it began. GERN indicated that about 79 patients were still in the study.
Patients involved in the study are receiving imetelstat. Researchers are tracking their progress using the Myelofibrosis IST protocol. Among the patients in the study are nine that suffer from blast-phase myelofibrosis as well as another nine patients who have refractory anemia with ringed sideroblasts.
Early data from the study was presented at the American Society of Hematology Annual Meeting in December. GERN says it will launch a multi-center, Phase 2 clinical trial of imetelstat in patients with myelofibrosis in the first half of this year.
GERN stock had jumped more than 230% over the past twelve months. GERN stock closed at $5.62 a share on Friday.
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