Geron(GERN) Prnewswire·2025-03-14 21:46Core Insights - A class action has been filed against Geron Corporation on behalf of investors who acquired its securities between June 7, 2024, and February 25, 2025, due to alleged misleading information regarding the launch and growth potential of its product Rytelo [1][2]. Company Overview - Geron Corporation is a commercial-stage biopharmaceutical company focused on blood cancer treatment, with its primary product being a telomerase inhibitor named imetelstat, marketed as Rytelo [1]. Allegations - The complaint claims that Geron misled investors by presenting overly optimistic reports about Rytelo's launch success and growth potential, failing to disclose significant factors such as seasonality, competition, and the burden of monitoring that affected patient starts [2]. - It is alleged that Rytelo lacked sufficient market awareness, hindering Geron's ability to meet the significant unmet need for the drug, especially among first-line patients and those outside academic settings [2]. Financial Impact - On February 26, 2025, Geron announced its fourth-quarter financial results for fiscal 2024, revealing that Rytelo's growth had stagnated. The company attributed this to seasonality, competition, lack of awareness, and monitoring requirements [3]. - Following this announcement, Geron's stock price plummeted from 1.61 per share on February 26, 2025, marking a decline of approximately 32.07% in one day [3].