Geron Corp. (GERN), a late-stage clinical biopharmaceutical company, has seen a monumental increase of 14.93% in aftermarket trading session. As a consequence, GERN stock was trading at $1.54 when last checked. The increase has come after the publication of analysis comparing real-world data with IMbark phase-2 study results. On Monday, GERN stock closed the day at $1.34 after increasing 1.52% during regular trading hours.
Why GERN soared?
On Monday, GERN announced the publication in the Annals of Hematology of a paper. The paper is titled Favorable Overall Survival with Imetelstat in Relapsed/Refractory Myelofibrosis Patients Compared with Real-World Data. The paper detailed statistical analysis and compared data from IMbark Phase 2 study to the Real World Data. The paper described several of the statistical adjustment methods and numerous sensitivity analyses for improvement incomparability of the data set from the company’s IMbark study and real-world data to correlate the effect of a random trial. The authors said that there existed a consistency in the hazard ratios. Besides, statistical significance observed across multiple analyses suggested that a survival benefit has an association with imetelstat treatment of MF patients after ruxolitinib failure. The authors concluded by saying that the results demanded further evaluation in this regard.
Q2 2021 financial highlights
On 16th August, GERN reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June 2021. The revenue for three month period stood at $107,000 against $43,000 for the same period of 2020. The total operating expenses for the three months were $28.99 million against $16.80 million. The company suffered a loss of $28.88 million from the operations during the three months against $16.76 million for the same period of 2020. The net loss for three month period was $29.57 million against $15.82 million for the same period of 2020. The net loss per basic and diluted share was $0.09 during the quarter against $0.06 for the same quarter of 2020. The company had cash and cash equivalents of $57.64 million on 30th June. The total current assets in possession of the company were $201.76 million while total current liabilities were $37.01 million.
What’s next for GERN?
The last three months have proved to be outstanding for GERN stock. This is evident from the fact that the stock has increased more than 5% during the period. The advancements in phase 2 clinical study, evaluating imetelstat as a treatment for myelofibrosis, have been a driving force behind this rise. Analysts believe that GERN stock could pay dividends to investors in near future.