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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
Sleek Money
31 Aug 14 22:52:45
Geron Sees Significant Growth in Short Interest $GERN http://t.co/WVbuBvpyKy
US Banking News
31 Aug 14 22:34:17
Short Interest in Geron Expands By 4.4% $GERN http://t.co/xuFSePGo49
WKRB News
31 Aug 14 22:23:14
Short Interest in Geron Expands By 4.4% $GERN http://t.co/IYB5MooRQ2
PhilCheeze
30 Aug 14 15:56:00
RT @WhiteCoatMafia: @SneakyPHolsters If $DRL settles before court, and I think there's a good chance, then my bet is DRL hits before $GERN.
Tom Trimbath
30 Aug 14 10:30:18
Stem cells, stocks, and spinoffs. Meanwhile, patients wait. ASTY Spins Off And Up http://t.co/UICuiRcaa9 $ASTY $GERN @Investorvillage
Stock Headlines
29 Aug 14 20:21:21
$GERN: This Week in Biotech: Actions Speak Louder Than Words http://t.co/QeozQqdSdN http://t.co/jRcLApapl5
Adam Cole
29 Aug 14 19:29:20
@SneakyPHolsters My dream trade would be to hit $DRL, then roll into more $GERN. If $BABA shows up in the interim, that's also on hit list.
Adam Cole
29 Aug 14 19:21:38
@SneakyPHolsters If $DRL settles before court, and I think there's a good chance, then my bet is DRL hits before $GERN.
Business News Watch
29 Aug 14 19:21:22
$GERN: Geron Announces Conference Call to Discuss Second Quarter 2014 Financial Results http://t.co/RROYVkAaaQ http://t.co/R2Wyc1x90U
Adam Cole
29 Aug 14 19:20:45
@SneakyPHolsters It's unfortunate $GERN and $DRL have similarly timed catalysts. If $DRL goes to court, who knows which happens first. But..
Tom Trimbath
29 Aug 14 18:52:16
Stem cells, stocks, and spinoffs. Meanwhile, patients wait. ASTY Spins Off And Up http://t.co/mcGTd0dHh9 $ASTY $GERN @Investorvillage
Michael
29 Aug 14 15:22:05
@WhiteCoatMafia I'm curious, do you feel that a catalyst for $DRL is closer than $GERN?
TickerChirp
29 Aug 14 13:38:05
Leading Tweets Regarding $GERN (GERON CORP symbol GERN) on 08/29/2014 http://t.co/gTOFnN8F1U
Josh Alex
29 Aug 14 12:58:03
$GERN I'm digging this close!
Daily Contracts
29 Aug 14 11:26:03
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Market News Desk
29 Aug 14 08:21:32
$GERN: GERON CORP Financials http://t.co/nX3GaNMeDn http://t.co/WC5kHXBBc1
AricGoodman
29 Aug 14 08:17:10
$ASTY now back to original cost via $GERN distribution - wish I would've bought more at 2.10 #ripcity
Trader News Daily
29 Aug 14 06:25:35
$GSPN on breakout watch after up 33% yesterday. Related: $APP $ARIA $BRCD $HEMP $GERN $CBIS $CRMBQ $DRIO $DRNE $JRJC $DGLY $HGSE $XXII $ALU
jones_trades
28 Aug 14 21:03:44
Worst Nasdaq trades for me this year $BLDP $ROYL $GERN $HIMX Best trades $GLUU $NEWL $PLUG & $USU
MAISA
28 Aug 14 19:12:26
#StemCell from $GERN to $ASTY - must read! Stem cell industry's 'huge development' in Bay Area http://t.co/rkCDxujLeW
MAISA
28 Aug 14 13:15:30
$GERN overall option implied volatility of 99 is below its 26-week average of 104
Stock Updates
28 Aug 14 10:21:32
$GERN: Geron to Assume Sponsorship of Myelofibrosis IST and IND http://t.co/nXAZN41011 http://t.co/tWW39EfJDC
BLAZING VOLTz
28 Aug 14 10:05:21
i went small cap bio shopping today -- added: $CLRX $BLRX $OPXA $IMMU $GERN $KBIO and $ABIO -- sold all my $SGOC and $CPRX -
work1411
27 Aug 14 13:45:33
$GERN $ASTY - http://t.co/frEBRdxDXe
Biotex
27 Aug 14 12:16:28
contemplating picking up $GERN at these levels..
Thomas Lynch
27 Aug 14 12:07:09
$ASTY,former gern ip starts spinal trials http://t.co/xoZ6VjsWLP $cur $gern
il falso guaritore
27 Aug 14 11:38:45
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Trader News Daily
27 Aug 14 11:31:37
http://t.co/PeRPkYu8Uk ranked #1 with over 75% alert gains this week. Related: $AVNR $HALB $HYSR $XSNX $ZQK $CIM $BLUU $DRNE $MACK $GERN
Colin White
27 Aug 14 09:00:45
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
DM Oncology
27 Aug 14 09:00:41
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
JonnyFinlay
27 Aug 14 08:42:15
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Mathew Pletcher
27 Aug 14 08:36:09
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Business Updates
27 Aug 14 08:21:29
$GERN: Geron to Assume Sponsorship of Myelofibrosis IST and IND http://t.co/ez7eCgMcOV http://t.co/z1R7SXkbdp
Marc Hav
27 Aug 14 08:20:19
$GERN on the move ! http://t.co/0drhgqIeNE
Market Masta
27 Aug 14 08:20:06
$GERN & $ONVO 'today is gonna be a good day' - Ice Cube
Ronald J. Perez, PhD
27 Aug 14 08:13:01
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Andy Biotech
27 Aug 14 08:11:29
$PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM $INCY $GERN $CRIS
Taylor Anderson
27 Aug 14 07:31:34
@adamfeuerstein $ASTY OPC1 CIRM grant less than 50% of what $GERN gave up when they stopped progam
Jacob Plieth
27 Aug 14 07:25:58
@sharkbiotech Asterias? Bizarre story. Subsidiary of $BTX, formed to develop $GERN stem cell assets. Convoluted setup...
sububoston
27 Aug 14 07:18:02
@sharkbiotech $gern
WKRB News
27 Aug 14 06:26:15
Zacks Reaffirms Neutral Rating for Geron $GERN http://t.co/pq6hqo7YJd
Marc Hav FX
27 Aug 14 06:13:01
Geron Corporation $GERN (Updated 27AUG2014) http://t.co/MEmmftPI19
Marc Hav
27 Aug 14 06:13:00
Geron Corporation $GERN (Updated 27AUG2014) http://t.co/zJI8H8ovv6
Drew
27 Aug 14 00:01:50
“@StockCats: $GERN long signal http://t.co/jHQiqKNoab” RT->A fav takeout a target. Long for years & will continue.
Kevin Kennedy
26 Aug 14 20:22:43
RT @StockCats: $GERN long signal http://t.co/0ZXcqpxU8n
Business News Now
26 Aug 14 20:21:25
$GERN: Geron Corporation Reports Second Quarter 2014 Financial Results http://t.co/zlGeaUCEIw http://t.co/7i3lmFb7Gv
Market Masta
26 Aug 14 20:05:03
RT @StockCats: $GERN long signal http://t.co/0ZXcqpxU8n
00Matt
26 Aug 14 19:46:12
“@StockCats: $GERN long signal http://t.co/hOlErPUKDT” like this one a lot with 2.20 area support as risk/stop
Scott Thomas
26 Aug 14 19:45:36
RT @StockCats: $GERN long signal http://t.co/0ZXcqpxU8n
S Manian
26 Aug 14 19:28:55
“@StockCats: $GERN long signal http://t.co/HyzoX6th5j” // 3's #jamot IMO
				
				
By  +Follow December 6, 2013 12:50PM
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