Slide 1: Corporate Presentation
Our mission is to change lives by changing the course of blood cancer Corporate Presentation November 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements Except for the historical information contained herein, this presentation contains forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such statements, include, witho
Slide 3: Geron – Proven Science. Expanding Patient Impact.
Geron – Proven Science. Expanding Patient Impact. Maximizing the value of RYTELO® while advancing our first-in-class telomerase inhibitor Experienced Leadership Team Advancing a Differentiated Hematology Portfolio Deep hematology and oncology expertise, driving disciplined execution Stage Program In
Slide 4: RYTELO® (imetelstat)
RYTELO® (imetelstat) A first-in-class telomerase inhibitor with a unique mechanism of action representing a highly differentiated treatment approved for eligible patients with lower-risk myelodysplastic syndromes (LR-MDS)* Approved in the U.S. and EU based on results from the pivotal IMerge Phase 3
Slide 5: Phase 3 IMpactMF Trial Now Fully Enrolled
Phase 3 IMpactMF Trial Now Fully Enrolled Interim Analysis expected 2H 2026* Final Analysis (base case) expected 2H 2028* Designed to Confirm Strong OS Signal Imetelstat Observed in Phase 2 Study 9.4mg/kg IV# every 3 weeks (n ~214) INT-1/INT-2/HR MF Primary Endpoint: OS R/R to JAKi (n=320) Seconda
Slide 6: Significant Commercial Opportunity in LR-MDS
Significant Commercial Opportunity in LR-MDS 6
Slide 7: Key RYTELO® Highlights
Key RYTELO® Highlights First and only approved telomerase inhibitor, bringing a differentiated mechanism of action Durable Red Blood Cell Transfusion Independence and Response Rates Meaningful Hemoglobin Rises and Reduction in Transfusions Observed Consistent Responses Across Subgroups Gener
Slide 8: RYTELO LR-MDS U.S. Market Opportunity with Significant Potential
RYTELO LR-MDS U.S. Market Opportunity with Significant Potential Estimated 2025 U.S. RYTELO Total Addressable LR-MDS Patient Population ∼ 16,800 ∼45% 1L patients expected to progress to 2L treatment in 2025 ESA Eligible: ~13,400 ~15,400 ∼59% ∼ 7,600 2L patients expected U.S. RYTELO total to progress
Slide 9: Refined Commercial Targeting to Reach Accounts Treating the Majority of Patients
Accounts Treating Eligible LR-MDS Patients Identified Refined Commercial Targeting to Reach Accounts Treating the Majority of Diagnosed Patients >10,000 HCPs treat diagnosed MDS patients in the U.S. ~6,300 HCPs treat ~80% of the diagnosed MDS patients ~1,300 HCPs treat ~50% of the diagnosed MDS pati
Slide 10: Additional Actions Underway to Maximize Value of RYTELO
Additional Actions Underway to Maximize Value of RYTELO and Explore Opportunities for Imetelstat 1 2 3 Educate U.S. Increase Presence in Expand IST Program HCPs on RYTELO Hematology Forums with U.S. Clinical Sites Path to Accelerating Momentum and Expanding RYTELO (imetelstat) 10
Slide 11: Compelling Opportunity in JAKi R/R Myelofibrosis
Compelling Opportunity in JAKi R/R Myelofibrosis 11
Slide 12: Phase 3 Trial in JAKi R/R MF Could Potentially Double the RYTELO Opportunity
Phase 3 Trial in JAKi R/R MF Could Potentially Double the RYTELO Commercial Opportunity, if Successful and Approved ~12,000 U.S. JAKi naïve / well-controlled MF patients (currently only 3 approved treatments – all JAK inhibitors) 75% of those JAKi treated patients fail or discontinue treatment Poten
Slide 13: Median OS in Phase 2 IMbark Compares Favorably to Historical Controls
ClinicalTrials.gov Identifier: NCT02426086 Median OS in Phase 2 IMbark Compares Median OS More than Double Favorably to Historical Controls (11-16 months) Compared to BAT in RWD Study RWD BAT vs. Imetelstat 9.4 mg/kg 29.9 months median OS 29.9 mos Survival Probability BAT Moffitt Imetelstat 9.4 mg/k
Slide 14: Phase 3 IMpactMF Trial Designed to Confirm Strong OS Signal
Phase 3 IMpactMF Trial Designed to Confirm Strong ClinicalTrials.gov Identifier: NCT04576156 OS Signal Observed in Phase 2 Study Interim Analysis expected 2H 2026* 100% Enrolled at the end of Sept 2025 Final Analysis (base case) expected 2H 2028* Imetelstat 9.4mg/kg IV# every 3 weeks (n ~214) Primar
Slide 15: Development Pipeline
Development Pipeline —————————
Slide 16: Telomerase Inhibition Represents a Novel MOA with Unique Benefits
Telomerase Inhibition Represents a Novel MOA with Unique Benefits Based on Nobel Prize-winning science, imetelstat is wholly owned by Geron Apoptosis of malignant cells Telomerase is increased in Imetelstat binds to telomerase, and recovery of effective malignant cells inhibiting its activity hemato
Slide 17: Exploring the Potential of Telomerase Inhibition Across Multiple Hematologic Malignancies
Exploring the Potential of Telomerase Inhibition Across Multiple Hematologic Malignancies Therapeutic Areas Discovery Preclinical Phase 1 Phase 2 Phase 3 Approved LR-MDS Single Agent Approved in the U.S. & EU R/R MF Single Agent IMpactMF Frontline MF Combination Therapy IMproveMF R/R AML & HR-MDS Si
Slide 18: Financial Overview
Financial Overview 18
Slide 19: Financial Overview
Financial Overview Cash Balance Net Revenue Operating Expenses $421.5M $47.2M $61.1M Cash and marketable Q3 2025 net Q3 2025 total OpEx securities as of 9/30/25 product revenue Updated Previous Expected 2025 OpEx Range $250M to $260M $270M to $285M 19
Slide 20: Executive Leadership Team
Executive Leadership Team Experienced Leaders in Hematology and Oncology Shaping Geron’s Next Chapter Harout Semerjian Michelle Robertson Joseph Eid, M.D. Ahmed ElNawawi Scott Samuels, Esq. President and Chief Executive Vice President, Executive Vice President, (“Nawawi”) Executive Vice President, E
Slide 21: Appendix
_ Appendix ——————
Slide 22: Multiple Opportunities to Support Long-Term Growth
Multiple Opportunities to Support Long-Term Growth 2026 2026 June 2024 Nov 2024 Q4 2024 Initial Results from Launch in select FDA approval & Secured up to $375M in $47.5M product EU countries in Part 2 of Ph1 U.S. launch of non-equity financings revenue LR-MDS IMproveMF RYTELO in LR-MDS Dec 2024 Mar
Slide 23: LR-MDS Represents a Significant Commercial Opportunity for RYTELO
LR-MDS Represents a Significant Commercial Opportunity for RYTELO Phase 3 IMerge data, FDA label and NCCN Guidelines position RYTELO as highly differentiated treatment 23
Slide 24: Strong IP Position for RYTELO Supports Commercial Opportunity
Strong IP Position for RYTELO Supports Commercial Opportunity Exclusivity for LR-MDS Expected into 2037 in the U.S. and 2038 in the EU Expected Regulatory Exclusivities and Patent Terms Dec 2025 Dec 2030 Mar 2033 ~Aug 2037 • PTE Applications filed in U.S. for RYTELO patents Jun Jun 2024 U.S. Data/Ma
Slide 25: Favorable U.S. Prescribing Information for RYTELO
Favorable U.S. Prescribing Information for RYTELO Supports Significant Market Opportunity No boxed warning No REMS program No contraindications Indication and Usage Recommended Dosage RYTELO is indicated for the treatment of adult patients with 7.1 mg/kg* administered as an intravenous low- to inter
Slide 26: NCCN Guidelines Recommend Imetelstat as a Preferred Second-Line Treatment Option
NCCN Guidelines Recommend Imetelstat as a Preferred Second-Line Treatment Option NCCN MDS Guidelines include imetelstat for use for both RS(+) and RS(-) populations in 1st line ESA-ineligible patients and in 2nd line patients regardless of prior therapy RS(+) RS(-) Serum EPO ≤500 mU/mL Serum EPO >50
Slide 27: Durable RBC Transfusion Independence and Response Rates Differentiate Imetelstat
Durable Red Blood Cell Transfusion Independence and Response Rates Differentiate Imetelstat 52 weeks 50.0 median duration 45.0 80 weeks 39.8% median duration Percentage of Patients (%) 40.0 35.0 P<0.001 123 weeks 30.0 28.0% median duration 25.0 20.0 P<0.001 17.8% 15.0% 15.0 Nominal P=0.002 10.0 5.0
Slide 28: Meaningful Hemoglobin Rises and Reduction in Transfusions Observed
Meaningful Hemoglobin Rises and Reduction in Transfusions Observed with Imetelstat ≥4U/8 weeks transfusion reduction 3.6 g/dL median Hgb rise in 8-week RBC-TI responders in ~60% of imetelstat-treated patients 5 1 Nominal P<0.001 Nominal P=0.042 Mean Change in RBC Transfusion 4 0 Mean Change in HGB 3
Slide 29: Consistent Responses Observed Across MDS Subgroups with Imetelstat
Consistent Responses Observed Across MDS Subgroups with Imetelstat (≥ 8-week RBC-TI Responses) Imetelstat, Placebo, % Difference n/N (%) n/N (%) (95% CI) Overall 47/118 (39⋅8) 9/60 (15⋅0) 24⋅8 (9⋅9–36⋅9) WHO category^ RS+ 33/73 (45⋅2) 7/37 (18⋅9) 26⋅3 (5⋅9–42⋅2) RS- 14/44 (31⋅8) 2/23 (8⋅7) 23⋅1 (-1⋅
Slide 30: Improvement in Patient-Reported Fatigue Associated with Clinical Responses
Improvement in Patient-Reported Fatigue Associated with Clinical Responses with Imetelstat Per Exploratory Analysis Meaningful patient-reported fatigue improvements Sustained meaningful improvement in fatigue in 8 and 24-week RBC-TI responders reported in imetelstat-treated patients Imetelstat Respo
Slide 31: Prior Luspatercept Patients Experienced Clinical Benefit from Imetelstat
ESA R/R/Ineligible LR-MDS Patients With Prior Luspatercept Treatment Experienced Clinical Benefit from Imetelstat Treatment Clinical activity of imetelstat was evident across lines of prior therapy (including luspatercept, lenalidomide and HMA) regardless of prior response status, suggesting that im
Slide 32: Well-Characterized Safety Profile with Manageable Thrombocytopenia and Neutropenia
Well-Characterized Safety Profile with Generally Manageable and Short-Lived Thrombocytopenia and Neutropenia These are familiar adverse reactions for hematologists who are experienced with managing cytopenias Consistent with prior clinical experience, the most AEs were generally manageable with supp
Slide 33: Imetelstat Represents a Potential First-in-Class Treatment in MF
Imetelstat Represents a Potential First-in-Class Treatment with a New Mechanism of Action in MF 33
Slide 34: First Myelofibrosis Trial with Overall Survival Primary Endpoint
First Myelofibrosis Trial with Overall Survival Primary Endpoint Based on Significant Imetelstat Clinical Experience 2015 2021 ONGOING Single Institution Pilot Study Ph 2 Dose Finding Study Pivotal Ph 3 Trial Median OS in 9.4 mg/kg arm more than First and only Phase 3 trial in MF with Basis for Ph2
Slide 35: Part 1 Findings Suggest Tolerability of Imetelstat Combined with Ruxolitinib in MF
Part 1 Findings Suggest Tolerability of Imetelstat ClinicalTrials.gov Identifier: NCT05371964 Combined with Ruxolitinib in Patients with MF Actively enrolling patients for dose confirmation with imetelstat 9.4mg/kg PART 2: Dose Confirmation & PART 1: Dose Finding Results Presented at ASH 2024 Expans
Slide 36: Clinical Benefits Observed in LR-MDS and MF with Unique Mechanism of Action
Clinical Benefits Observed in LR-MDS and MF with Unique Mechanism of Action 36
Slide 37: Association of Clinical Benefit and Reduction of Disease Markers in MF and MDS
Association of Clinical Benefit and Reduction of Disease Markers Observed in Imetelstat-Treated MF and MDS Patients A B C D A. Disappearance of bone marrow fibrosis in imetelstat treated HR MF patient B. Association of survival improvement and reduction in VAF for HR R/R imetelstat treated MF patien