Geron(GERN) Prnewswire·2025-03-28 00:05Core Viewpoint - A class action lawsuit has been filed against Geron Corporation for allegedly misleading investors about the launch and growth potential of its drug Rytelo, a telomerase inhibitor for blood cancer treatment [1][2][3]. Allegations - The lawsuit claims that Geron did not disclose that the optimistic reports regarding Rytelo's launch success were not reflective of reality, as factors like seasonality, competition, and monitoring burdens significantly impacted patient starts [3]. - It is alleged that Rytelo lacked sufficient market awareness, hindering Geron's ability to meet the unmet need for the drug, especially among first-line patients and those outside academic settings [3]. Financial Impact - On February 26, 2025, Geron reported its fourth-quarter financial results for fiscal 2024, revealing that Rytelo's growth had stagnated, attributing this to seasonality, competition, lack of awareness, and monitoring requirements [4]. - 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 [4]. Class Action Participation - Shareholders may be eligible to participate in the class action against Geron Corporation, with a deadline to file as lead plaintiff by May 12, 2025 [5]. - Shareholders can choose to remain absent class members without participating in the case [5]. Company Background - Robbins LLP is noted as a leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [6].