Here is why Geron Corporation (GERN) stock went up on Monday?

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CEA Stock
CEA Stock

Geron Corporation (GERN) shares soared 14.93% in after-hours on Monday, October 11, 2021, and closed the daily trading at $1.54. In the regular trading session as well, GERN’s stock gained 1.52%. GERN shares have fallen 33.00% over the last 12 months. Over the past three months, the stock has gained 5.51%, while over the past six months, it has lost 6.29%.

Let’s have a brief discussion about its recent news and developments.


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GERN IMbark Phase 2 clinical trial data publication

On October 11, 2021, Geron Corporation (GERN) announced the publication in the Annals of Hematology of a paper entitled “Favorable Overall Survival with Imetelstat in Relapsed/Refractory Myelofibrosis Patients Compared with Real-World Data,” which details statistical analyses comparing data from the Company’s IMbark Phase 2 clinical trial to closely matched Real World Data (RWD).

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GERN inducements Grants

On September 16, 2021, Geron Corporation (GERN) granted a non-statutory stock option to purchase an aggregate of 400,000 shares of Geron common stock as an inducement to a newly hired employee in connection with the commencement of employment with the Company.

The stock option has an exercise price of $1.36 per share, which is equal to the closing price of Geron common stock on the date of grant.

GERN participation in the recent investor conferences

  • Geron Corporation recently participated at the 2021 Cantor Virtual Global Healthcare Conference which was held on Thursday, September 30, 2021.
  • GERN also participated at the R.W. Baird 2021 Virtual Global Healthcare Conference which was held on Tuesday, September 14, 2021, at 2:00 p.m. ET.
  • The company also took part in the H.C. Wainwright 23rd Annual Global Virtual Investment Conference which was held on Monday, September 13, 2021.

At all the above-mentioned conferences, the company was presented by John A. Scarlett, M.D., Geron’s Chairman, and Chief Executive Officer.

GERN recent financial results

On August 16, 2021, Geron Corporation (GERN) announced its financial results for the second quarter which ended on June 30, 2021.

Q2 2021 financial highlights

  • GERN earned total revenue of $107 million in Q2 2021 compared to $43 million in Q2 2020.
  • Total operating expenses were $29 million in Q2 2021 compared to $16.8 million in Q2 2020.
  • It suffered a net loss of $29.57 million in Q2 2021 compared to a net loss of $15.83 million in Q2 2020.
  • Net loss per basic and diluted share was $0.09 compared to $0.06 in Q2 2020.

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Conclusion

The recent IMbark Phase 2 clinical trial data publication was the reason behind its good performance on Monday and it can continue its momentum in the coming trading session as well.

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