Geron(US:GERN) GlobeNewswire News Room·2025-03-26 12:00Core Viewpoint - A class action lawsuit has been filed against Geron Corporation and certain officers for alleged violations of federal securities laws during the Class Period from February 28, 2024, to February 25, 2025, seeking damages for investors who acquired Geron securities during this time [1]. Company Overview - Geron Corporation is a late-stage clinical biopharmaceutical company focused on developing therapeutics for cancer and chronic degenerative diseases, with its sole product candidate being RYTELO (imetelstat), a telomerase inhibitor aimed at treating low- to intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis [4]. - RYTELO was commercially launched in June 2024 after receiving FDA approval for treating adult patients with lower-risk MDS who are transfusion-dependent and have not responded to or are ineligible for erythropoiesis-stimulating agents [5]. Allegations and Financial Performance - The lawsuit alleges that throughout the Class Period, Geron made materially false and misleading statements regarding its business and prospects, including the potential profitability of RYTELO and the company's ability to meet the unmet needs in the market [6]. - On February 26, 2025, Geron reported Q4 2024 earnings per share of -$0.04 and revenue of $47.54 million, significantly below analyst projections of -$0.02 to -$0.03 EPS and $61.93 million in revenue [7]. - Following the disappointing financial results, Geron's CEO indicated that the company had observed flat revenue trends for RYTELO, attributing this to seasonality, competition, and a lack of awareness among healthcare providers [8]. Market Reaction - After the announcement of the Q4 results, Geron's stock price fell by $0.76 per share, or 32.06%, closing at $1.61 per share on February 26, 2025 [9].