Luke Lango Issues Dire Warning

A $15.7 trillion tech melt could be triggered as soon as June 14th… Now is the time to prepare.

Tue, June 6 at 7:00PM ET

Why Is Geron (GERN) Stock Soaring 50% Today?

  • Shares of biopharma Geron (GERN) skyrocketed double digits for the midweek session.
  • The company announced positive Phase 3 results regarding its blood cancer drug.
  • Meeting primary and secondary endpoints dramatically boosted GERN stock.
GERN stock - Why Is Geron (GERN) Stock Soaring 50% Today?

Source: Shutterstock

Though the major indices posted a strong recovery effort on Wednesday, late-stage clinical biopharmaceutical firm Geron (NASDAQ:GERN) soared above most public players. Following positive top-line results for its blood cancer therapeutic, GERN stock jumped 50% before settling around 34% up in the early afternoon. Enticingly, the drug carries the potential to become a first-in-class therapy for the specific condition it addresses.

According to the company’s press release, Geron’s telomerase inhibitor imetelstat — used for lower-risk myelodysplastic syndromes (MDS) patients — achieved its primary efficacy endpoint of an eight-week transfusion independence (or TI) in its IMerge Phase 3 clinical trial. In addition, Geron achieved a key secondary endpoint of 24-week TI.

Per the official statement, the study demonstrated a “highly statistically significant and clinically meaningful benefit of imetelstat versus placebo with no new safety signals and safety results consistent with prior imetelstat clinical trials.”

According to the Mayo Clinic, MDS represents a “group of disorders caused by blood cells that are poorly formed or don’t work properly. Myelodysplastic syndromes result from something amiss in the spongy material inside your bones where blood cells are made (bone marrow).”

Significantly, the Mayo Clinic adds, “[m]anagement of myelodysplastic syndromes is most often intended to slow the disease, ease symptoms and prevent complications. Common measures include blood transfusions and medications to boost blood cell production.”

Therefore, GERN stock jumped substantially on the underlying quality-of-life improvement for impacted patients. Per the Aplastic Anemia and MDS International Foundation, anemia epitomizes a key symptom of MDS patients.

High Optimism for GERN Stock

While the main concern for any advanced therapeutic centers on the patient, GERN stock likely skyrocketed on transformational implications. From the Mayo Clinic, “[i]n certain situations [involving MDS], a bone marrow transplant, also known as a stem cell transplant, may be recommended to replace your bone marrow with healthy bone marrow from a donor.”

This process sounds easier on paper than in practice. Natively, going under the knife carries its own anxieties. However, the American Cancer Society notes that the rehabilitation process may be incredibly challenging. “It can take 6 to 12 months, or even longer, for blood counts to get close to normal and your immune system to work well.”

In a statement published by Reuters, Geron’s Chief Medical Officer Faye Feller remarked that the Phase 3 results suggest that treatment with imetelstat “may be altering the course of the disease.” Not surprisingly, investors picked up on the enthusiasm, boosting GERN stock.

Reuters added that “[b]ased on the data, the company plans to submit applications for approval in the United States in mid-2023 and in Europe in the second half of 2023, and anticipates commercial launch in 2024.”

Even before the latest development, GERN stock represented one of the power hitters of 2022, more than doubling in value. However, with the most recent pop, Geron returned shareholders an eyewatering 164% in the trailing year.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC