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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
Daily Contracts
16 Sep 14 10:57:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/RcN7ibTRRC
nuere
16 Sep 14 00:16:16
Deep DD, patience and ignoring twitter noise from “experts” will soon pay off! My $GERN position is steadily increasing
RTA
15 Sep 14 22:51:01
I'm watching $KWK $WLT $GERN $WAC
work1411
15 Sep 14 13:24:14
@BioInvestor2013 Been watching $OPXA $OXGN $VICL $IDRA $BIOD $GERN- all been going cheaper & struggling. No entry yet.
Daily Contracts
15 Sep 14 10:45:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Daily Contracts
15 Sep 14 10:08:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Bio Penny Picks
15 Sep 14 07:18:34
$GERN Starting to look interesting.
Boycott Patriarchy
14 Sep 14 21:24:08
@VitaBrevisBebe $GERN did pretty well after it became $ASTY $ACTCD
Vic
14 Sep 14 09:04:49
RT @tazamatic: @RNAiAnalyst listen to Dr Snyder presentation on Imetelstat from the 21:40 mark https://t.co/E8FTUMxUMH then listen to $gern…
Thomas Lynch
13 Sep 14 17:08:06
RT @tazamatic: @ColfaxCapital @chasingthealpha full copy of Yale paper on Imetelstat in combo http://t.co/xziOOYil3z $GERN
Taylor Anderson
13 Sep 14 13:52:14
@ColfaxCapital @chasingthealpha full copy of Yale paper on Imetelstat in combo http://t.co/xziOOYil3z $GERN
Vic
12 Sep 14 13:31:03
@DoctorTranRI360 picked up more $mnkd today as well and added more $Gern. Geron is going to be huge in 2015 & 2016
nuere
12 Sep 14 07:59:38
@pennystocksusa so you mean @BioRunUp is out.. Would be stupid, $GERN could double any day now..
Tradingcol
12 Sep 14 07:25:37
$ 2.46 could be a good price to buy $GERN.
Bio Penny Picks
12 Sep 14 07:22:13
$GERN $GERN has approx. 48% institutional ownership with Fidelity (FMR) as the largest shareholder (23.5M shares)
Bio Penny Picks
12 Sep 14 07:21:41
$GERN In early FEB14, closed public offering for the sale of 25.9M shares of common stock @$4 and raised net cash proceeds of $96.7M
Bio Penny Picks
12 Sep 14 07:21:15
$GERN 6/30/14, reported $147.6 million (M) in cash and investments with no debt
Bio Penny Picks
12 Sep 14 07:20:22
$GERN Looks good here with the front loaders out.
Tiberius Williams
12 Sep 14 05:45:35
RT @pennypicprodigy: Today's hot stocks: $RVW $EPGL $REPH $GERN $AVNR
Penny Picks
12 Sep 14 05:03:22
Today's hot stocks: $RVW $EPGL $REPH $GERN $AVNR
nuere
12 Sep 14 03:01:25
@jq1234t @AndyBiotech @Sport234a Check out recent Leukemia Research regarding overall survival in PMF. $INCY $GERN http://t.co/TKAhrlrXy4
Hank Bassi
10 Sep 14 18:49:11
RT @MaisaCorp: $GERN everyone should email THANK YOU NOTES to $GERN for the spin off $ASTY shares (FREE SHARES). Since late July2014 $ASTY …
Hung Tran, MS, MD
10 Sep 14 13:25:43
$GERN http://t.co/5emmuEouUC
Randy
10 Sep 14 10:55:17
This pos better get it's act together this week. Be a winner dammit $gern
Market Masta
10 Sep 14 10:01:47
watching: $ARTX $FCEL $ANR $ZNGA $GERN $BIS $JNUG and some others.
Brent
9 Sep 14 08:38:11
@foswi @given2tweet would have had much more if hadn't sold most of my $GERN in June after finding out real reason for hold. Large again now
Bio Penny Picks
9 Sep 14 07:45:49
$GERN Pumps sold @ 2.61 from $2.41 would like to see it back in the $2.40s
Bio Penny Picks
9 Sep 14 07:41:13
$GERN On watch, subs are out.
AricGoodman
9 Sep 14 07:19:12
Gotta be honest. Been very negative about the $gern mgmt team. Gaining confidence w how well $asty has performed. Shareholder friendly.
Grail
9 Sep 14 06:21:20
$CSUN & $GERN Up premarket
Randy
9 Sep 14 05:14:22
$gern looks like it wants to "no joking this time" take out the 50 day monkey
Market Masta
9 Sep 14 02:31:22
$GERN http://t.co/jtoKftpP6A
Stock Status
8 Sep 14 20:08:32
NASDAQ After-Hours Advanced $ECYT http://t.co/QfDDgRRG7K $GERN http://t.co/EDCkbuDqPM $BDBD http://t.co/WMvl5NdcDY
Dan
8 Sep 14 20:00:35
RT @JJJpennycharts: Over a dollar for tomorrow.... $PVCT $WPCS $ENCN $GERN $SCOK $RXII $RTIX
Eli Pritsker
8 Sep 14 19:50:13
RT @JJJpennycharts: Over a dollar for tomorrow.... $PVCT $WPCS $ENCN $GERN $SCOK $RXII $RTIX
Josh Alex
8 Sep 14 19:35:18
RT @MaisaCorp: $GERN After Hours: $2.70 +$0.12 (4.65%). once FDA lifts the halt, $GERN will ROCK back to $5+
Joey Joe Joe Junior
8 Sep 14 19:31:58
Over a dollar for tomorrow.... $PVCT $WPCS $ENCN $GERN $SCOK $RXII $RTIX
MAISA
8 Sep 14 17:07:29
$GERN After Hours: $2.70 +$0.12 (4.65%). once FDA lifts the halt, $GERN will ROCK back to $5+
Richard Elie Maseri
8 Sep 14 15:52:28
@Tradingcol Geron Corp, $GERN + 2.70, + 7.14%, Patience & discipline pal...
Jamie Rushton
8 Sep 14 14:29:04
@given2tweet not if you own quite a bit of $GERN. I'll take a triple on a free spin off. Is now worth ~10% of original $GERN position.
Jamie Rushton
8 Sep 14 14:27:11
RT @MaisaCorp: $GERN everyone should email THANK YOU NOTES to $GERN for the spin off $ASTY shares (FREE SHARES). Since late July2014 $ASTY …
MAISA
8 Sep 14 13:37:21
$GERN everyone should email THANK YOU NOTES to $GERN for the spin off $ASTY shares (FREE SHARES). Since late July2014 $ASTY goes up 351%
				
				
By  +Follow December 6, 2013 12:50PM
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