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.
Brenton Flynn, Max Macaluso, Ph.D., and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.