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Geron Corporation (GERN) Spikes, Retreats, Spikes Again on Imetelstat Data

By  +Follow December 6, 2013 12:50PM
Tickers Mentioned:

Shares in biopharmaceutical company Geron Corporation (GERN) took a wild ride on Friday, as the company was up as much as 32 percent in pre-market trading, spiked nearly 18 percent to open trading, swung to a 2.7 percent loss, and then started climbing again. All before 11 am EST.

The wild day came after the company released data after market close on Thursday from a clinical study showing that its bone-marrow drug, imetelstat, displayed statistically significant results among 22 myelofibrosis patients.

Imetelstat Carrying GERN to New Heights

Imetelstat is a treatment for myelofibrosis, a chronic myeloid cancer that affects bone marrow cells. It’s intended to work by inhibiting the activity of telomerase, an enzyme that allows cancer cells to maintain telomere length, which is what gives those cells the capacity for limitless reproduction.

The Mayo Clinic study, which was performed on 22 myelofibrosis patients over six months, achieved partial or complete remission from five of the participants and showed a response to the treatment in 41 percent of people taking the drug.

“Some patients in our clinical trial taking imetelstat obtained dramatic responses and there have been some complete responses which is almost unheard of for drug therapy in this disease,” said Mayo Clinic hematologist Ayalew Tefferi, the study’s lead author, in the statement. “These are early results but they are promising.”

Roller-coaster Day for GERN Stock

The daily movement for Geron proved inconsistent, repeatedly rising sharply only to surrender gains soon after.

After closing at $5.87 a share on Thursday, the stock opened $6.72 a share and rose as high as $6.92 in the first six minutes of trading. It then plunged sharply, falling as low as $5.71 a share just before it started to rebound again at around 11 am. That rebound carried shares to $6.33 a share by just after 12:45 pm, but it was followed by another sharp decline back to $5.87 a share.

Things slowed considerably after 1 pm, but a slow rally to over $6 a share was followed by another decline with shares down over 0.75 percent by 3:45 pm.

GERN On the Rise Since September

The current news on a Mayo Clinic comes almost exactly a month after the company experienced 44.72 percent jump in a single day on new of another Mayo Clinic study returning strong results.

On the whole, it’s been a strong close to 2013 for a stock that showed little life prior to the end of the summer. Shares in Geron have more than quadrupled since September 1, rising over 315 percent since that point. The stock gained less than 1.5 percent over the first 9 months of the year.

Driving the gains are continuing streams of positive news about imetelstat, which investors clearly believe is en route for FDA approval and commercial release as Geron has consistently been losing money since 2009, with annual operating losses between $70 million and $111 million in that time.

Friday’s stops and starts could be a sign that investors and traders believe the three-month run has taken Geron’s value close to long-term resistance.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for GERN
31 Oct 14 16:17:06
Well, lost $$ on $GLUU today. $GERN of course more than made up for it, until (typical) shorts ripped it away. Shorts, please get $VGGL <$2.
31 Oct 14 13:25:17
$GERN Since last ER, stock dropped 11%. Will drop continue aftr ER on 11/3 After Close? http://t.co/mDc9hugnA3
Mark Romero
31 Oct 14 13:02:19
$GERN Now have 1500 at $2.27. Doubtful I will hold through earnings report though.
31 Oct 14 12:19:01
RT @WSConsensus: EPS 11/3 after the close: $S, $DRYS, $AIG, $FTR, $MRO, $CFN, $GRT, $SRC, $ANV, $CTRP, $HLF, $GERN http://t.co/NnbI54fKwA
31 Oct 14 12:18:18
EPS 11/3 after the close: $S, $DRYS, $AIG, $FTR, $MRO, $CFN, $GRT, $SRC, $ANV, $CTRP, $HLF, $GERN http://t.co/NnbI54fKwA
31 Oct 14 09:57:24
@nuere But I did get to ride $GERN from 1.93 to 2.20 before selling at the wrong time and buying back in. Holding now. Awwww yeah. $$$$ 😄
Mark Romero
31 Oct 14 09:26:59
$GERN Will start scaling in today for 1000shrs total. Expecting slight retrace. Bull flag and uptrend look good. Possible FDA news run
Josh Alex
31 Oct 14 09:10:47
$GERN inching near HOD!
31 Oct 14 08:31:41
@WhiteCoatMafia Sitting on 112,000 $GERN @ avg 2.32
Jason Paul
31 Oct 14 07:31:55
$GERN moving on up, I smell a hold release coming soon... Huge volume coming in... #Win
Joseph Travfourr
31 Oct 14 07:28:33
, the bios r doing well in the stock market: $bcrx, $gern, $arna, $orex, $mnkd to name a few- gotta diversify : Horses + stocks
Steph Seguin
31 Oct 14 07:23:24
$GERN boyaa! Long term here for a double!!
Mark Romero
31 Oct 14 07:21:32
$GERN Something is definitely brewing here.
31 Oct 14 07:00:25
$GERN up nice today ASH Abstract catalyst 11/6 http://t.co/6RVt0lYz3k
Josh Alex
31 Oct 14 06:53:23
$GERN that is what I'm talking about!
31 Oct 14 06:52:49
$gern 👍
30 Oct 14 23:51:08
Partner Jet $PJT.V is up 183% this week after Q3 release with more gains coming. Find out why: http://t.co/MEpEjkCm4H $LYB $GERN $TWC
30 Oct 14 12:07:33
@nixon786 $GERN
Luke Lee
29 Oct 14 13:42:32
RT @nuere: @jq1234t @AndyBiotech @Sport234a Worrying finding regarding ruxolitinib in PMF. http://t.co/OTvgV31Yzg $GERN $INCY http://t.co/…
29 Oct 14 06:58:01
$GERN Chart shaping up, Catalyst: 11/6 ASH Abstracts 12/6 ASH http://t.co/6RVt0lYz3k
Don Fishback
29 Oct 14 04:34:58
Academic Algorithms:(95-100 Skew Difference) $ACM, $THRX, $NBS, $CYBX, $GERN http://t.co/E1eWzWBQtz
29 Oct 14 04:34:58
Academic Algorithms:(95-100 Skew Difference) $ACM, $THRX, $NBS, $CYBX, $GERN http://t.co/HEPLdh3VOn
Marc Hav FX
29 Oct 14 03:27:21
Marc Hav
29 Oct 14 03:27:20
29 Oct 14 01:54:05
@jq1234t @AndyBiotech @Sport234a Worrying finding regarding ruxolitinib in PMF. http://t.co/OTvgV31Yzg $GERN $INCY http://t.co/xwE1yDrEhi
Tony Akins
28 Oct 14 21:58:12
What'd $GERN Do?...Breakout, flag, HOD's...Respect all the tech stuff but let me break it down as a medic type... IT CURES &$@%£*! CANCER!
28 Oct 14 21:54:46
Geron Corp. (GERN) Jumps 5.88% on October 28 $GERN http://t.co/6bhqOhme9T
28 Oct 14 20:52:04
$GERN http://t.co/leZYqoxCUC
Joey Joe Joe Junior
28 Oct 14 18:50:19
over a dollar for tomorrow... $CETV $GERN $AMDA $WLT $ISNS $FLWS $ARC
Phil Martin
28 Oct 14 18:04:43
$GERN http://t.co/1TiI2cLCmB
28 Oct 14 17:39:47
Wed watch: momo: $HIVE, $CLF, $HNR, $WAVX, $BAXS, $MWA, $ZAGG Chart: $SCLN, $GENE, $CCCL, $ANH, $AGEN, $DHX, $ETAK, $EVC, $GERN, $HT, $MDXG
28 Oct 14 16:36:34
Scans/Watchlist for 10/29: $GERN $ONVO $MOH $ANAC $BCOR $MLNX and more: http://t.co/pdCKBAsEib
28 Oct 14 16:13:06
Popular Tweets for $GERN (Geron Corp symbol GERN) on 10/28/2014 http://t.co/gJixOTJJHX
Will Robinson
28 Oct 14 14:29:26
Geron up over 5% today. Mayo Clinic's brochure provided an important endorsement for Imetelstat ahead of ASH. $GERN http://t.co/kWyLwoWoOY…
Craig Garbers
28 Oct 14 13:35:46
RT @SeekingAlpha: Betting On Big Data To Beat Aging http://t.co/N7J5KRmDeh $AAPL #APPLE $ABBV $CELG $CGEN $GERN $GOOG $HLF
Seeking Alpha
28 Oct 14 13:32:33
Betting On Big Data To Beat Aging http://t.co/N7J5KRmDeh $AAPL #APPLE $ABBV $CELG $CGEN $GERN $GOOG $HLF
28 Oct 14 11:35:49
$GERN testin HOD also on this weekends Video > Just sayin
Brennan Dolan
28 Oct 14 11:21:23
Love monsters RT @AricGoodman: Monster 1mm share 5min candle in $GERN
28 Oct 14 11:20:25
$GERN $STEM charts
Tony Akins
28 Oct 14 11:20:06
@COT1TK: Yeah I've been parked on that "if" for months... Did somebody get an early copy of the abstracts from ASH?? $GERN
28 Oct 14 11:19:55
$GERN broke tight flag
anon's mom
28 Oct 14 11:18:03
RT @COT1TK: $GERN somebody knows something... That's a big block for some kid in mom's basement
28 Oct 14 11:17:29
@COT1TK If the clinical hold is lifted on Imetelstat then $GERN is going to be a monster.
Tony Akins
28 Oct 14 11:15:03
$GERN somebody knows something... That's a big block for some kid in mom's basement
28 Oct 14 11:08:31
Monster 1mm share 5min candle in $GERN
28 Oct 14 11:00:55
Watching $GERN. Extended V-bottom consolidating under the 50sma. $2.22. No position yet.
28 Oct 14 05:58:19
#virtualreality headsets will be the consumer tech gadget for 2015. $GERN investors can profit from Spectra7 $SPVNF: http://t.co/UGK1Sij9xy
28 Oct 14 04:38:47
GERN 2.21 Stock Charts $GERN Geron Corp. (NASDAQ) Last Updated: 10/28/2014 06:38:49 GERN Stock Chart - 1 Month http://t.co/8xbaNrcD7l
Gotham City Capital
28 Oct 14 01:55:27
BIO Chart Watch List This Week/Next: $AKAO $MEIP $XNCR $ACRX $ENTA $CEMP $GERN
27 Oct 14 12:59:11
@WhiteCoatMafia Sold 25000 shares $GERN @ 2.20 (+$1250) to hold 17,500 shares $RTRX @ avg 9.33 for swing up. Still with 76000 GERN @ 2.15
By  +Follow December 6, 2013 12:50PM



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