Menlo Park, CA, April 25, 2013 - Geron Corporation (Nasdaq: GERN) today announced updates to the development strategy for imetelstat, its first-in-class telomerase inhibitor, including the status of the investigator-sponsored study at Mayo Clinic in myelofibrosis (MF). Initial progress of the first cohort of patients in the MF study has been reported to Geron by the investigator, Dr. Ayalew Tefferi. Enrollment of the first cohort of patients in the study was completed at the end of March and the pre-specified criteria in the clinical protocol enabling expanded enrollment was met....
"The compelling proof-of-concept data from our trial of imetelstat in ET and the progress made in the current myelofibrosis study at Mayo Clinic support Geron's focus on the development of imetelstat in hematologic myeloid malignancies. Diseases such as myelofibrosis represent the greatest value-creating opportunity for the company because many patients with these diseases have significant unmet medical needs and imetelstat has the potential to be a disease-modifying treatment," said John A. Scarlett, M.D., Geron's President and Chief Executive Officer. "The actions announced today allow us to concentrate our financial and operational resources solely on this development strategy.... medical experts advised the company that ET patients are adequately served by existing therapies and recommended that the company pursue other hematologic myeloid malignancies, such as MF, where there is a clear unmet medical need for a product that could be disease-modifying....
Even Steve Kelsey is being shown the door so clinical trials only game left.
Geron is putting all its money on myelofibrosis and cutting everything else that does not offer a timely and affordable path to market.
With solid tumor trial data all bad and the ET and MM data very good and pretty good it is actually logical.
I sold out when the updated NSC lung data was bad but I'll be willing to buy back at some time in the future depending how the myelofibrosis investigator sponsored trial data comes out.
Geron may not have home run potential left in its programs but a pretty good chance for a solid base hit in hematologic malignancies.
Well, X, it's clear now that the Scarlett-Huh and company is gearing towards selling the company or seek merger with a latrge pharma having a large global sales network. The name Geron may disappear for ever and the shareholders will be released with say $5 per share or more if lucky. Since, neither Huh nor Scarlett or other major members of the management is buying the shares with their own money (except mere 50K purchase by Scarlett) and certain institutions like Vanguard are not yet selling off their holding, it appears to me that they will vote hefty, cheap share bonuses to themselves before the merger or sale occurs because I do not think any one in the top management will be given a job in the merged or sold company. They apparently know this and, therefore, if you see the announcement of first such bonus, you may consider adding to your portfolio then!!