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Why Geron Stock Is Soaring Today

By Keith Speights - Jun 18, 2021 at 11:40AM

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Investors are cheering the company's encouraging phase 2 data.

What happened

Shares of Geron (GERN -3.26%) were trading up by 35.8% as of 11:33 a.m. EDT on Friday. The big jump came after the company published data from its phase 2 clinical study evaluating imetelstat as a treatment for myelofibrosis, a rare type of bone marrow cancer.

So what

Geron's latest results were published in the Journal of Clinical Oncology. Patients in the phase 2 study who had poor outcomes with previous treatments experienced several clinical benefits after treatment with imetelstat, including improvements in symptoms and increased overall survival.

Scientist looking through a microscope.

Image source: Getty Images.

The biotech stock skyrocketed Friday because investors think that Geron's latest data bodes well for imetelstat's chances of success in late-stage testing. The company is currently evaluating the experimental drug in two phase 3 studies, one targeting myelofibrosis and another targeting myelodysplastic syndromes (MDS), a group of rare bone marrow disorders.

Now what

Geron expects to complete enrollment in its phase 3 study of imetelstat in treating MDS in the second half of this year. Top-line results from the study could be announced as early as late 2022. Geron anticipates an interim analysis from its late-stage study targeting myelofibrosis in 2024.

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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