Why Is Geron (GERN) Stock Up 18% Today?

Core Viewpoint - Geron Corporation (NASDAQ: GERN) received FDA approval for its drug RYTELO, leading to a significant increase in its stock price [1][3]. Company Summary - RYTELO is designed for adult patients with low- to intermediate-1 risk myelodysplastic syndromes (MDS) who have transfusion-dependent anemia, a condition that often results in anemia, fatigue, and reduced survival [4]. - The clinical benefits of RYTELO include sustained and durable transfusion independence and increases in hemoglobin levels, all while maintaining a manageable safety profile [5]. Stock Performance - Following the FDA approval, GERN stock rose by 18.4% on Friday morning and has increased by 114.9% since the beginning of the year [3]. - Heavy trading activity was noted, with over 54 million shares traded, significantly surpassing the average daily trading volume of approximately 12.9 million shares [5].