Oppenheimer initiates coverage on Geron Corporation (NASDAQ:GERN).The analysts at the brokerage house have a current rating of Outperform on the counter. In a recent information released to the investors, Oppenheimer announces the price target of $5.5 per share.
Geron lifting after JNJ's Janssen was granted FDA orphan designation for its imetelstat for the treatment of myelofibrosis -- GERN is parterned with Janssen for the drug (GERN) : From 10-q: "In the event that Janssen elects to continue to maintain its license rights and advance the development of imetelstat in any indication within the applicable timeframe set forth in the Collaboration Agreement (such election, the Continuation Election), we then would have an option, or the U.S. Opt-In Rights, to share further U.S. development and promotion costs in exchange for higher tiered royalty rates and higher future development and regulatory milestone payments if imetelstat is successfully developed and approved. If we exercise the U.S. Opt-In Rights, then we and Janssen would share U.S. development and promotion costs on a 20/80 basis (Geron 20%, Janssen 80%), we would receive a $65,000,000 milestone payment, or the Continuation Fee, at the time of the Continuation Election, and would be eligible to receive additional potential payments of up to $470,000,000 in development and regulatory milestones, up to $350,000,000 in sales milestones, and tiered royalties ranging from a mid-teens up to low twenties percentage rate on worldwide net sales of imetelstat in any countries where regulatory exclusivity exists or there are valid claims under the patent rights exclusively licensed to Janssen."
I love that I have an imposter on this board, I must be saying something right!
This is great, they can't get me out of their mind, I own him!
he's got three lll, I have proper spelling.
dude follows me around like a lost puppy, all day long. He can't stop thinking about me!
tell him to sell all of them!