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

By  +Follow December 6, 2013 12:50PM
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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
Vic
29 Sep 14 16:01:21
RT @LeprechaunAlert: $ALCS $WAVX $NEON $FRO $IFON $RITT $NETE $GEVO $SPEX $GERN $TVIX $KWK LET THE GAMES BEGIN #GAMBLERSONLY 18+
Daily Contracts
29 Sep 14 14:09:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Daily Contracts
29 Sep 14 10:25:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
ThePennyCommand.com
29 Sep 14 07:36:22
http://t.co/K2iVTlHFf2 stocktraderva: $GERN $2.17 nice support at $2.10: stocktraderva http://t.co/ajiP657KL7 http://t.co/K2iVTlHFf2
LeprechaunAlert
28 Sep 14 23:39:37
$ALCS $WAVX $NEON $FRO $IFON $RITT $NETE $GEVO $SPEX $GERN $TVIX $KWK LET THE GAMES BEGIN #GAMBLERSONLY 18+
Joe
27 Sep 14 20:41:06
$orex $amrn $depo $thld $gern $arwr $kerx also saw significant rise in shares short.
Jason Chew
26 Sep 14 13:32:27
Imetelstat! MT @nuere: Tefferi still very skeptical about JAK inhibitors as evidenced by his latest in Leukemia $GERN http://t.co/84evwiI2Aa
Jacob Plieth
26 Sep 14 13:21:22
RT @nuere: Tefferi is still very skeptical about JAK inhibitors, as evidenced by his latest article in Leukemia $GERN http://t.co/5ajrZN6Rf2
nuere
26 Sep 14 13:17:57
Tefferi is still very skeptical about JAK inhibitors, as evidenced by his latest article in Leukemia $GERN http://t.co/5ajrZN6Rf2
Daily Contracts
26 Sep 14 11:17:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Vic
26 Sep 14 03:38:37
RT @nuere: @Mykalt45 I remember.. here is yet another MOA to consider http://t.co/KsjhDFW3tT $GERN
nuere
26 Sep 14 02:28:53
For those thinking that the Yahoo message board poster irishtrader52 is a fake! $GERN http://t.co/5x63V3bLx1
Day Trade Alerts
25 Sep 14 12:10:14
via #AlertTrade SHORT Seller Alert $GERN - GERON #ShortSeller #Stocks http://t.co/VS8RO1bzXJ
nuere
25 Sep 14 09:44:19
@Mykalt45 that’s a very nice attitude, perhaps you now could join the coming $GERN party ;-)
Randy
25 Sep 14 06:48:11
Figures...my turd long $gern is up today
RnM Enterprises
25 Sep 14 06:45:53
$GERN, 2.23 seems to be starting a bounce... papertrading it.
nuere
25 Sep 14 05:51:22
@Mykalt45 I remember.. here is yet another MOA to consider http://t.co/KsjhDFW3tT $GERN
nuere
24 Sep 14 22:41:37
@Mykalt45 What’s your $GERN bear thesis?
Michael Torres, PhD
24 Sep 14 14:10:28
As much as I'm a $GERN bear, there's no denying that IF the drug works, it would be great for MF patients. Nice support here.
Day Trade Alerts
24 Sep 14 07:59:18
via #AlertTrade 5-min Candle Alert $GERN - GERON #daytrader #stocks http://t.co/VS8RO1bzXJ
Michael Torres, PhD
24 Sep 14 07:59:10
RT @KincoraCapital: $GERN looks interesting here. 20% off from September highs and multiple Q4 catalysts.
Kincora Capital
24 Sep 14 07:47:31
$GERN looks interesting here. 20% off from September highs and multiple Q4 catalysts.
Brenda Sharp
24 Sep 14 07:41:32
RT @WhiteCoatMafia: @rs_analytics How is it possible that a drug showing disease modifying activity will not affect sales of a drug treatin…
Vic
24 Sep 14 04:04:49
@rs_analytics you paint a very compelling picture for $GERN #Imetelstat opportunity. Acquiring a >position long term +
nuere
24 Sep 14 03:13:12
@rs_analytics I appreciated your article, I feel more confident than ever in my long thesis and will try to buy some more $GERN today
WhiteCoatMafia
23 Sep 14 17:48:25
@rs_analytics How is it possible that a drug showing disease modifying activity will not affect sales of a drug treating symptoms. $GERN
r.s_analytics
23 Sep 14 10:56:51
$GERN $INCY: I don't think Geron's Imetelstat poses any near term risk to Incyte's Jakafi franchise: http://t.co/vxnDYuAy3x
Mark Romero
23 Sep 14 10:56:01
$GERN Geron's Imetelstat: No Threat Now Or Possibly Ever To Incyte's Jakafi Franchise http://t.co/LFCClrUaht
Seeking Alpha
23 Sep 14 10:46:13
Geron's Imetelstat: No Threat Now Or Possibly Ever To Incyte's Jakafi Franchise http://t.co/pHqaq5MBTg $INCY $GERN
Tradingcol
23 Sep 14 08:43:21
x ahi recomendaban $S a $ 7.00 q yendo p $ 8 o $ 9.. Le esta pasando lo mismo q con $GERN y $BEBE. Revise el algoritmo del soft d señales.
ProTrader Mike
23 Sep 14 06:29:37
9/23 MOJO Day Trading Morning Watch List $$MNGA $NXTD $OTIV $CJJD $OTIV $RWLK $JRJC $SGMO $CRNT $GERN
Trader News Daily
22 Sep 14 18:09:51
http://t.co/PeRPkYu8Uk ranked #1 for alerts last week with 605% in gains. Related: $PLUG $MONIF $GERN $HEMP $FITX $NTEK $FMCC $JCP $AUY
WhiteCoatMafia
22 Sep 14 09:39:14
In $GERN 75,000 shares at avg $2.18 for announcement of adoption of Mayo MF IND later this week or early next week.
Randy
22 Sep 14 07:37:05
$gern...epic pos
				
				
By  +Follow December 6, 2013 12:50PM
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