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Sunday, July 3, 2022

Geron Corp. (GERN) Stock Plunging Deep in After Hours. Here’s why.

Geron Corp. (GERN) is a late-stage biotherapeutics business engaged in the development and marketing of imetelstat in hematologic malignancies. The two Phase 3 trials conducted by the company include IMpactMF for refractory myelofibrosis and IMerge for lower-risk myelodysplastic syndromes.


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GERN stock price during the regular trading of March 29, 2022, was $1.28 with an increase of 5.79%. Its price plunged deep as of the writing in the aftermarket session by 17.9%.

GERN: Events and Happenings

On March 29, 2022, GERN updated its intention to offer and sell its common stock shares in lieu of its common stock shares, pre-funded warrants to acquire shares of its common stock, along with associated warrants to acquire its common stock shares in a public offering. All of the securities are to be sold by the company.

On March 17, 2022, GERN reported the grant of non-statutory stock options for the acquisition of a sum of the company’s 320,000 common stock shares as inducements to its employees.

GERN: Key Financials

GERN released its three months financials on March 10, 2022, for the fourth fiscal quarter of 2021 ended on December 31, 2021. Some key highlights are mentioned below.

Revenue

The company posted revenues of $1.0 million during Q4 2021 against $50,000 during the comparable quarter of 2020. The company’s revenue increased by $0.5 million over the year.  The company topped the estimates of revenue by $978.2 thousand.

EPS

Net loss basic and diluted in Q4 2021 was $32.0 million or $0.10 per share versus $23.8 million or $0.07 per share during the corresponding fourth quarter of 2020. The company observed a considerable decline in its earnings YoY along with missing the EPS estimations by -$0.02.

On January 21, 2022, GERN announced the presentation of its Executive management at the Virtual B. Riley Securities Oncology Investor Conference held on January 28, 2022. On January 4, 2022, GERN stated its top management participated in the H.C. Wainwright BioConnect Conference held on January 10, 2022.

On December 14, 2021, GERN issued its poster presentations regarding imetelstat (first in class telomerase inhibitor) at the Annual Meeting of the 63rd American Society of Hematology.

Conclusion

GERN stock experienced a 15% downfall during the past year as the global restrictions are easing. Its current aftermarket stock weakening resulted from the company’s statement of a proposed public offering of its common stock and warrants. For Q1 2022, the expert’s estimations of revenue are less than Q4 2021 i.e., $102.2 thousand versus -$0.11 EPS.

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