Please ensure Javascript is enabled for purposes of website accessibility

Why Geron Corporation Stock Is Ripping Higher Today

By George Budwell – Nov 1, 2018 at 2:55PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Geron's stock is on the rise today after the company announced two conference presentations for its lead clinical asset.

What happened

Shares of the clinical-stage biotech Geron (GERN -6.50%) are in bounce-back mode today, thanks to the announcement of two oral presentations at the upcoming American Society of Hematology (ASH) meeting this December. At the meeting, Geron will reportedly provide an overview of the drug's progress in patients with advanced myelofibrosis and myelodysplastic syndromes -- two potential deadly bone marrow disorders.   

As of 1:51 p.m. EDT, the drugmaker's shares were up by a noteworthy 15.75%  in the wake of this announcement. 

3-D image of a cell.

Image Source: Getty Images.

So what

Geron's stock has been getting routed ever since its former partner Johnson & Johnson (JNJ 0.33%) decided to hand back imetelstat's rights and terminate their blood cancer partnership earlier this year. So while these dual conference presentations aren't exactly game changers, it does give the company's shareholders a ray of hope that imetelstat may be worth developing after all -- despite J&J's exit. 

Now what

After the closing bell today, Geron is slated to release its third-quarter results and hold a conference call to discuss the events that took place over the three-month period. The two overriding issues investors should key in on during the upcoming quarterly release are the company's current cash position and management's latest plans for imetelstat's late-stage development.

As a refresher, Geron's brass noted during their last update that they were planning to advance imetelstat into a pivotal trial for myelodysplastic syndromes by mid-2019 but that a similar trial for advanced myelofibrosis may not be possible quite yet for financial reasons. Today's quarterly conference call should therefore provide some much-needed clarity on  imetelstat's future, as well as the company's all-important financial situation.

 

George Budwell owns shares of Geron and Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson and has the following options: short January 2019 $140 calls on Johnson & Johnson. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Geron Corporation Stock Quote
Geron Corporation
GERN
$2.30 (-6.50%) $0.16
Johnson & Johnson Stock Quote
Johnson & Johnson
JNJ
$166.72 (0.33%) $0.54

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
329%
 
S&P 500 Returns
106%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/24/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.