Press release
Geron Corporation Reports Third Quarter 2020 Financial Results and Current Events
FOSTER CITY, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Geron Corporation (Nasdaq: GERN), a late-stage clinical biopharmaceutical company, today reported
About this update from Geron Corporation
[{"type":"text","content":"FOSTER CITY, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Geron Corporation (Nasdaq: GERN), a late-stage clinical biopharmaceutical company, today reported financial results for the third quarter ended September 30, 2020. The Company will host a conference call today at 4:30 p.m. ET to discuss third quarter financial results and current events. As of September 30, 2020, Geron had approximately $274 million in cash and investments. Based on current planning assumptions, the Company estimates its current financial resources to be sufficient for its operations until the end of 2022.\n “In the third quarter, we executed on our clinical, regulatory and publication plans for the imetelstat program,” said John A. Scarlett, M.D., Chairman and Chief Executive Officer. “We continued to advance both the enrollment of the ongoing IMerge Phase 3 clinical trial and start-up activities for the upcoming Phase 3 clinical trial in refractory myelofibrosis, which we have named IMpactMF. We also secured European orphan drug designation in lower risk MDS; received acceptance for presentation of all ten abstracts submitted to the ASH Annual Meeting; and had the IMerge Phase 2 data published in the well-respected Journal of Clinical Oncology. In addition, we strengthened our balance sheet with a loan facility that provides additional financial flexibility to support our plans for imetelstat development going forward.” Dr. Scarlett added, “We continue to work toward completing enrollment in IMerge in the first quarter of 2021. However, the recent resurgence of the COVID-19 pandemic is causing an uncertain and unpredictable impact on clinical trial activities. Due to these challenges, we now believe the trial will most likely be fully enrolled in the second quarter of 2021. As long as enrollment is complete by the end of the first half of 2021, we continue to expect top-line results from IMerge to be available in the second half of 2022, as previously guided. Based on current feedback from clinical sites planned to participate in IMpactMF, we continue to expect that trial to be open for screening and enrollment in the first quarter of 2021.” Current Events – Clinical Development Ongoing IMerge Phase 3 Clinical Trial in Myelodysplastic Syndromes (MDS) Enrollment for the IMerge Phase 3 clinical trial continued to progress in the third quarter. In August 2020...