The company has 90 million in cash.
By dropping GRN1005 they have reduced their burn rate enough that they have enough on hand to go another 2 1/2 years before they absolutely have to raise more money.
To restart the OPC1 trial would cut that time in half, and unless there is a catalyst in the next twelve months to move the share price seriously up they will either have to dilute a huge amount to get cash or be bought out for peanuts.
I don't see that kind of catalyst in the next 12 months, even though the ET data looks very good and the hope that Imetelstat can be shown effective in short Telomere solid tumors looks promising. Getting that to the clinic and then conclusive results will take a while.
I doubt that restarting the program would give the share price much of a boost since the lack of cash should be a negative to most investors
The only way I see Geron restarting the OPC1 program is if CIRM offers to foot the entire bill.
Geron really has tossed the esc program overboard, scientists laid off and equipment sold for peanuts at auction.
The best chance for OPC1 is with Okarma and West who really are believers in stem cells.