Shares of biotech company Geron (Nasdaq: GERN ) dropped more than 20% today after it announced the cancellation of its GRN1005 cancer drug program. The drug's poor interim results have led the company to refocus its strategy on developing another drug, called imetelstat. Investors can't be happy about today's news, as shares of Geron were already halved in September following poor results from two of imetelstat's four clinical trials.
In the following video, health care analysts Max Macaluso and Brenton Flynn discuss this news and review the company's latest changes.
While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. In our free report "3 Stocks That Will Help You Retire Rich," we name stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.