Why Is Geron (GERN) Stock Up 94% Today?


  • Geron (GERN) stock is rocketing higher thanks to an update from the U.S. Food and Drug Administration (FDA).
  • An advisor to the agency is backing the company’s blood disorder treatment.
  • That brings with it heavy trading of GERN stock on Friday.
GERN Stock - Why Is Geron (GERN) Stock Up 94% Today?

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Geron (NASDAQ:GERN) stock is rocketing higher on Friday following news that advisors to the U.S. Food and Drug Administration (FDA) are backing its blood disorder drug, imetelstat.

According to a press release, the Oncologic Drugs Advisory Committee (ODAC) voted 12 to two in favor of imetelstat. The ODAC specifically noted that the benefits of the drug outweigh the risks.

The ODAC reached its conclusion on imetelstat after reviewing data from a Phase 3 clinical trial. Positive results were shown in that trail, including meeting its primary endpoint.

Faye Feller, M.D., Executive Vice President and Chief Medical Officer of Geron, said the following about the backing:

“We are pleased with the Committee’s decision to recognize the positive clinical benefit/risk profile of imetelstat for the treatment of transfusion-dependent anemia in adult patients with lower-risk MDS. There are few treatment options and significant unmet medical need remains for these patients, particularly among those with difficult-to-treat subtypes of this blood cancer.”

GERN Stock Movement Today

News of the backing from the ODAC brings with it heavy trading of GERN stock today. This has more than 52 million shares changing hands as compared to its daily average of about 8.5 million shares.

GERN stock is up 93.7% as of Friday morning.

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On the date of publication, William White did not hold (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 InvestorPlace.com Publishing Guidelines.

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