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Geron shares down 43% premarket

  • FDA puts Geron's (GERN) IND application for imetelstat on full clinical hold.  This stops the Phase 2 trial for essential thrombocythemia and the Phase 2 for multiple myeloma. It will probably delay the start of the Phase 2 for myelofibrosis.
  • Imetelstat may be toxic to the liver based on abnormal function tests.
  • Geron must determine if the effects are reversible upon cessation on the drug.
Comments (7)
  • GernTrader
    , contributor
    Comment (1) | Send Message
     
    Highly suspicious:

     

    1. There has been "unusual" persistent selling in GERN the past few weeks;

     

    2. Odd that FDA announcement appears the same day GERN is scheduled to hold a conference call, presumably to discuss the good prospects of trials, etc. In all trials, never a mention of any possible liver issues;

     

    3. Highly likely, IMO, that FDA info leaked the past few weeks, and was used to initiate short sales.
    12 Mar, 08:56 AM Reply Like
  • BTM
    , contributor
    Comments (344) | Send Message
     
    @GT,

     

    Agree.
    12 Mar, 09:34 AM Reply Like
  • BTM
    , contributor
    Comments (344) | Send Message
     
    Big sell off. Wonder if this is really a show stopper for Imetelstat. Magnitude of sell off worries me that insiders are bailing on GERN.
    12 Mar, 09:38 AM Reply Like
  • mikelazar
    , contributor
    Comments (211) | Send Message
     
    Anythings possible in this market.But everyone knows these biotec stocks are highly speculative.
    12 Mar, 12:11 PM Reply Like
  • User 18455102
    , contributor
    Comment (1) | Send Message
     
    The pre-market news says,

     

    4:20 a.m. is when this news of Geron's
    HOLD notice came out.

     

    This company is in California....

     

    That means its pretty damn early...
    3 hour time zone difference.

     

    The news was traded instantly in the
    pre market with super heavy volume.

     

    Are we to believe someone was delivering
    this serious news from the FDA at 1 a.m.?
    and that by 4:20 a.m. a entiure webcast has
    been made ready for us and cancellation of
    the financial news...

     

    This is completely an insider know event.
    And its horrendously wrong of Geron
    to treat its shareholders with such
    complete lack of care for how and when
    such news is brought out...

     

    I can't trust them at all....!!!!!!!!!!!!
    12 Mar, 12:16 PM Reply Like
  • beachbumsatie
    , contributor
    Comments (3) | Send Message
     
    Day Trader for over 13 yrs. Retired from the Finance Industry.
    12 Mar, 09:52 PM Reply Like
  • beachbumsatie
    , contributor
    Comments (3) | Send Message
     
    agree, insider information was leaked. It's been churning down for the past 3 wks. The time of the release was completely unfair to it's shareholders. I don't usually stay up all night watching the new wires. Thanks GERN, hope you go bankrupt!
    12 Mar, 10:00 PM Reply Like
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