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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
20 Oct 14 11:37:07
My top holdings are an ugly potpourri. But seems to be working? $enta $mnta $gern $cynaf $achn (closed today) $sds $pcyc
Josh Alex
20 Oct 14 06:40:48
Colin Macleod
19 Oct 14 16:35:55
Plenty of Dark Clouds hitting the market Friday here are the ones to slap shorts on http://t.co/immvsA3P2A $CLDX $NCT $NNN $SRC $GERN
18 Oct 14 14:54:03
The Most Popular Tweets About $GERN (GERON CORP symbol gern) on 10/18/2014 http://t.co/4eOmDw8xGk
17 Oct 14 16:41:03
@WhiteCoatMafia Adam, major stones to be 'all out' of $GERN even short term...
Mark Romero
17 Oct 14 08:36:18
$GERN Breaking down.
Mark Romero
17 Oct 14 06:15:00
$GERN On watch today.
17 Oct 14 00:59:19
Geron Corp. (GERN) Jumps 6.28% on October 16 $GERN http://t.co/hPDUAlB0tl
16 Oct 14 21:24:28
Fri watch: Momo: $IVAN, $ACI, $ANR, $NVAX Chart: $AGEN, $PTX, $RDNT, $ROX, $XNPT, $GERN
S Manian
16 Oct 14 18:28:19
RT @afmarko99: Looks like $GERN is working on a Bull Flag setup on the 6 month chart.
S Manian
16 Oct 14 18:28:17
RT @nixon786: $GERN dec / jan call active
16 Oct 14 18:14:21
$GERN dec / jan call active
16 Oct 14 13:12:03
$GERN overall option implied volatility of 134 is above its 26-week average of 106 according
Mark Romero
16 Oct 14 12:43:07
Looks like $GERN is working on a Bull Flag setup on the 6 month chart.
16 Oct 14 11:18:55
$GERN up 4.8% to 2.17 bullish setup alert #stocks #options #markets http://t.co/8b1slJOZNw
16 Oct 14 11:12:01
@WhiteCoatMafia Up $25,000 from yesterday's notice of a broad small cap rebound paired with the $GERN technical break upwards.
16 Oct 14 09:42:06
Sector update: $GERN active at +3.43% #options #BiotechTraderHandbook--> http://t.co/QvDIRU65Zv
16 Oct 14 09:40:06
Sector updates $GERN priced +3.86% # $IBB #BiotechTraderHandbook--> http://t.co/QvDIRU65Zv
Analyst Ratings
16 Oct 14 09:20:45
Want automatic email alerts for $EPIQ $GERN $SMP $HSOL $INUV? Subscribe to ARN Daily http://t.co/nSJuDsYidj
16 Oct 14 06:56:06
We like this stock $GERN http://t.co/1Dsa0gAGxq
16 Oct 14 03:58:54
Parabolic Sar Buy Signals $ELX $EXEL $EZPW $FAF $FCEL $FLIR $GERN $GEVA $GOGO $GRMN $HALO $HILL $HL $IMPV $INFN http://t.co/TOJ0AWJnBx
16 Oct 14 03:56:19
Bullish MACD Crossovers $ACI $AMCC $AXLL $BLL $BTU $BWA $CERS $CLF $COH $CSX $ESV $GERN $GNRC $HL $HLSS $ICON $IRDW http://t.co/FwxJIrbKU6
15 Oct 14 18:46:38
Thurs watch: Momo: $VSR, $MNKD, $JASO, $PTX, $GERN, $MDXG Chart: $QLYS, $ACI, $ARC, $AMCN, $ANGI, $SCLN Maybe: $OSUR, $CBMX
15 Oct 14 16:40:31
$GERN ended the second quarter of 2014 with $147.6 million in cash and investments.
Steph Seguin
15 Oct 14 16:12:15
$GERN nice channel breakout. http://t.co/RbLPWwnwnM
15 Oct 14 15:02:16
$GERN another example of a range break in a weak tape You have to have a plan when you trade. Spot the break points and anticicpate.
15 Oct 14 13:05:06
@WhiteCoatMafia Classic technical play on $GERN entry at $1.93, broke resistance and ended at $2.07. http://t.co/0QOl3Sq5mu
Josh Alex
15 Oct 14 13:04:28
$GERN Nice close
15 Oct 14 12:49:04
$GERN trading at +6.42% # $XBI #BiotechTraderHandbook--> http://t.co/QvDIRU65Zv
The Cardiac Kid
15 Oct 14 12:43:51
pkdaddy64: $GERN, steady up up up!!!: pkdaddy64 http://t.co/Yd0KvvLla6
15 Oct 14 12:40:59
$GERN nice way to end day
15 Oct 14 12:36:25
$GERN push 2
15 Oct 14 11:12:41
@WhiteCoatMafia Market getting murdered but $GERN flagging and breaking upward resistance. Will it hold above $1.95? http://t.co/bgh4BpNJHv
15 Oct 14 09:59:07
Will we see a sneaky shift into the grossly oversold small caps as the broad market sells off? In $GERN @ $1.93 http://t.co/rON8tDtYB1
Daily Contracts
15 Oct 14 07:25:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Hasanna Hosanna
14 Oct 14 15:20:55
RT @SeekingAlpha: Weekly Stock Watch: April 23-27 http://t.co/64rAp1YS $HGSI $CPST $AAPL $MCD $GE $MSFT $SGYP $IRWD $GERN $AMRN $DIS $CTSO …
14 Oct 14 07:43:08
$GERN under $2, what a gift!
13 Oct 14 20:51:00
RT @Margtwit: “@nuere: Encouraging update irishtrader52 $GERN, MF trial run by (Mayo’s) A Tefferi. http://t.co/D22sGEsxFD http://t.co/V4Ozk…
13 Oct 14 19:54:05
RT @Margtwit: “@nuere: Encouraging update irishtrader52 $GERN, MF trial run by (Mayo’s) A Tefferi. http://t.co/D22sGEsxFD http://t.co/V4Ozk…
13 Oct 14 11:34:58
RT @Margtwit: “@nuere: Encouraging update irishtrader52 $GERN, MF trial run by (Mayo’s) A Tefferi. http://t.co/D22sGEsxFD http://t.co/V4Ozk…
13 Oct 14 08:53:01
RT @Margtwit: “@nuere: Encouraging update irishtrader52 $GERN, MF trial run by (Mayo’s) A Tefferi. http://t.co/D22sGEsxFD http://t.co/V4Ozk…
Mike Margitan
13 Oct 14 07:46:03
“@nuere: Encouraging update irishtrader52 $GERN, MF trial run by (Mayo’s) A Tefferi. http://t.co/D22sGEsxFD http://t.co/V4OzkJMvzp” #rochmn
13 Oct 14 00:57:44
@nuere Encouraging update from irishtrader52, $GERN, MF trial run by A Tefferi. http://t.co/pR1NqaFdgh http://t.co/1CW4HmjCag
By  +Follow December 6, 2013 12:50PM



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