Our third big mover didn't have big news, either. Shares of Geron (NASDAQ: GERN ) climbed nearly 25% this week on no significant developments.
Like many biotechs, Geron presented at the J.P. Morgan Healthcare Conference last week. The market initially didn't care too much for what it heard. Geron CEO John Scarlett talked a lot about the company's cancer drug, imetelstat, but didn't have anything to say about potential partnerships or updates from the FDA.
After a little more reflection, though, investors snapped back -- and so did Geron's stock. Imetelstat shows significant promise for patients with myelofibrosis. Incyte's (NASDAQ: INCY ) Jakafi is currently the only drug approved to treat the disease, although several companies have potential competitors in development.
Geron, though, hopes that its approach of inhibiting telomerase, an enzyme that allows cancer to spread, will prove to be more effective than any of the others. The company thinks that imetelstat has the potential for disease modification. If that proves to be the case, it could jump past Incyte and all other competitors to become the dominant player in the myelofibrosis market -- and perhaps other forms of cancer.
I could hardly believe what I was reading and by whom. I had to go back and search again for the writer of this
article. Alas, MF....I won't call you dummies, Fools...at least not this week. Thanks again MF....for thinking before....
just writing garbage! GL...now try and enjoy your weekend better.