Geron Jumps on Positive Phase 3 Trial Top-Line Results

(24/7 MARKET NEWS) – Geron Corporation (Nasdaq: GERN) reported positive top-line results, this morning, that its IMerge Phase 3 clinical trial evaluating the Company’s first-in-class telomerase inhibitor, imetelstat, in lower risk myelodysplastic syndromes (MDS) patients who are relapsed, refractory or ineligible for erythropoiesis stimulating agents (ESAs), met its primary efficacy endpoint of 8-week TI and a key secondary endpoint of 24-week TI, demonstrating highly statistically significant and clinically meaningful benefit of imetelstat versus placebo with no new safety signals and safety results consistent with prior imetelstat clinical trials.

Geron is trading at $3.61, up $1.21 (+50.42%) 6.4 million shares traded.

Its 52-week range is $0.9899 to $3.06, so it’s trading at multiyear highs and this morning’s premarket high of $4.15 is a major inflection point. If it can break through the $4.15 resistance level, on strong volume, its setup is favorable for a potential move to much higher levels, but it may have a pullback before the regular session open.

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