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MENLO PARK, Calif., May 28, 2020 (GLOBE NEWSWIRE) — Geron Corporation (GERN) today appear banking after-effects for the aboriginal division concluded March 31, 2020. The Aggregation will host a appointment alarm today at 4:30 p.m. ET to altercate the afresh appear planned Phase 3 analytic balloon in adverse MF, as able-bodied as an amend on the advancing IMerge Phase 3 analytic balloon in lower accident MDS and aboriginal division banking results.



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Financial Resources

As of March 31, 2020, Geron had about $133 actor in cash, banknote equivalents, and accepted and non-current bankable securities. Based on accepted planning assumptions, the Aggregation estimates these banking resources, accumulated with the estimated net gain of about $140 actor from the afresh bankrupt accessible alms of securities, accommodate acceptable funds for the Company’s operations into the added bisected of 2022 back top-line after-effects for the IMerge Phase 3 analytic balloon in lower accident myelodysplastic syndromes (MDS) are expected, as able-bodied achievement of accommodating acceptance for the planned Phase 3 analytic balloon in adverse myelofibrosis (MF).



Revised 2020 Guidance



The Aggregation expects its 2020 operating amount bake to ambit from $70 to $75 million. This advice reflects banknote attention measures implemented in April due to the COVID-19 pandemic, such as suspending biking and apathetic a planned imetelstat affidavit of abstraction study. It additionally reflects new costs for startup activities associated with the planned Phase 3 analytic balloon in adverse MF and added costs for the amplification of analytic sites for the IMerge Phase 3 analytic trial.  

First Division 2020 Results

For the aboriginal division of 2020, the Aggregation appear a net accident of $16.4 million, or $0.08 per share, compared to $10.1 million, or $0.05 per share, for the commensurable 2019 period.

Revenues for the aboriginal division of 2020 were $52,000 compared to $57,000 for the commensurable 2019 period. Royalty revenues in 2020 and 2019 primarily reflect estimated royalties from sales of cell-based analysis articles from the Company’s bald axis corpuscle assets. In affiliation with the denial of Geron’s animal beginning axis corpuscle assets, including bookish acreage and proprietary technology, to Lineage Corpuscle Therapeutics, Inc. (formerly BioTime, Inc., which acquired Asterias Biotherapeutics, Inc.) in 2013, Geron is advantaged to accept royalties on approaching artefact sales.

Total operating costs for the aboriginal division of 2020 were $16.9 actor compared to $11.4 actor for the commensurable 2019 period.

Research and development costs for the aboriginal division of 2020 were $10.8 actor compared to $5.9 actor for the commensurable 2019 period. The admission in analysis and development expenses, compared to the aforementioned aeon in 2019, primarily reflects college analytic development costs associated with the IMerge Phase 3 analytic balloon and college personnel-related costs for the additions to the development aggregation in 2019.

General and authoritative costs for the aboriginal division of 2020 were $6.1 actor compared to $5.5 actor for the commensurable 2019 period. The admission in accepted and authoritative costs in the aboriginal division of 2020 compared to aforementioned aeon in 2019 primarily reflects added personnel-related costs for added accepted and authoritative headcount to abutment growing operational activities.

Interest and added assets for the aboriginal division of 2020 was $0.8 actor compared to $1.2 actor for the commensurable 2019 period. The abatement in absorption and added assets for 2020 compared to 2019 primarily reflects lower yields on the Company’s bargain bankable balance portfolio.

Conference Call

Geron will host a appointment alarm at 4:30 p.m. ET on Thursday, May 28, 2020 to altercate the planned Phase 3 analytic balloon in adverse MF, as able-bodied as an amend on the advancing IMerge Phase 3 analytic balloon in lower accident MDS and aboriginal division banking results.

Participants may admission the appointment alarm alive via blast by dialing domestically 1 (833) 513-0551 or internationally 1 (647) 689-4209. The appointment ID is 5582655. A live, listen-only webcast will additionally be accessible on the Company’s website at www.geron.com/investors/events. If you are clumsy to accept to the alive call, an archived webcast will be accessible on the Company’s website for 30 days.

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About Imetelstat

Imetelstat is a novel, first-in-class telomerase inhibitor alone endemic by Geron and actuality developed in hematologic myeloid malignancies. Early analytic abstracts advance imetelstat may accept disease-modifying action through the apoptosis of cancerous axis and antecedent cells, which allows abeyant accretion of accustomed hematopoiesis. Geron’s imetelstat development affairs includes two registration-enabling studies, IMerge, an advancing Phase 2/3 analytic balloon in lower accident myelodysplastic syndromes (MDS), and a planned Phase 3 analytic balloon in adverse myelofibrosis (MF) accepted to be accessible for accommodating screening and acceptance in the aboriginal division of 2021. Imetelstat has been accepted Fast Track appellation by the United States Food and Drug Administration for both the analysis of patients with non-del(5q) lower accident MDS who are adverse or aggressive to an erythropoiesis-stimulating abettor and for patients with Intermediate-2 or High-risk MF whose ache has relapsed afterwards or is adverse to janus kinase (JAK) inhibitor treatment.

About Geron

Geron is a late-stage analytic biopharmaceutical aggregation focused on the development and abeyant commercialization of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. For added advice about Geron, appointment www.geron.com.

Use of Forward-Looking Statements

Except for the absolute advice independent herein, this columnist absolution contains advanced statements fabricated pursuant to the “safe harbor” accoutrement of the Private Balance Litigation Reform Act of 1995. Investors are cautioned that such statements, include, after limitation, those regarding: (i) that the Aggregation estimates its banking resources, accumulated with the estimated net gain of about $140 actor from the afresh bankrupt accessible alms of securities, accommodate acceptable funds for the Company’s operations into the added bisected of 2022 back top-line after-effects for the IMerge Phase 3 analytic balloon in lower accident myelodysplastic syndromes (MDS) are expected, as able-bodied achievement of accommodating acceptance for the planned Phase 3 analytic balloon in adverse MF; (ii) that the Aggregation expects its 2020 operating amount bake to ambit from $70 to $75 million; (iii) that the Aggregation has planned a Phase 3 analytic balloon in adverse MF and that is accepted to be accessible for accommodating screening and acceptance in the aboriginal division of 2021; (iv) that imetelstat may accept disease-modifying activity; and (v) added statements that are not absolute facts, aggregate advanced statements. These statements absorb risks and uncertainties that can account absolute after-effects to alter materially from those in such advanced statements. These risks and uncertainties, include, after limitation, risks and uncertainties accompanying to: (i) whether the COVID communicable slows or prohibits the Company’s adeptness to accept top-line after-effects from the IMerge Phase 3 analytic balloon in the added bisected of 2022, the screening and acceptance of patients into the planned Phase 3 analytic balloon in adverse MF in the aboriginal division of 2021 and/or the achievement of accommodating acceptance for the planned Phase 3 analytic balloon in adverse MF in the added bisected of 2022; (ii) whether authoritative authorities admittance the added development of imetelstat on a appropriate basis, or at all, after any analytic holds; (iii) whether imetelstat is safe and efficacious, and whether any approaching adeptness or assurance after-effects may account the benefit-risk contour of imetelstat to become unacceptable; (iv) the charge for approaching capital; and (v) whether imetelstat demonstrates disease-modifying action in analytic trials. Added advice on the aloft risks and uncertainties and added risks, uncertainties and factors that could account absolute after-effects to alter materially from those in the advanced statements are independent in Geron’s alternate letters filed with the Balance and Exchange Commission beneath the branch “Risk Factors,” including Geron’s anniversary address on Form 10-Q for the division concluded March 31, 2020. Undue assurance should not be placed on advanced statements, which allege alone as of the date they are made, and the facts and assumptions basal the advanced statements may change. Except as appropriate by law, Geron disclaims any obligation to amend these advanced statements to reflect approaching information, contest or circumstances.

Financial table follows.

Note 1: Derived from audited banking statements included in the Company’s anniversary address on Form 10-K for the year concluded December 31, 2019.  

CONTACT:

Suzanne MessereInvestor and Media Relationsinvestor@geron.commedia@geron.com

CG Capital877-889-1972

 

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Last Updated: May 29th, 2020 by admin
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