Geron Corporation Ends Breast Cancer Study of Imetelstat
Published: Sep 11, 2012
Geron is still developing Imetelstat for two hematologic malignancies - essential thrombocythemia and multiple myeloma - which have been unaffected by the poor trial results and have yet to show negative data. The company expects to release top-line results from those studies during the fourth quarter. Besides the disappointment of fruitless R&D spending, today's announcement comes as a blow to the Imetelstat franchise, essentially eliminating half of the potential indications for the oncology drug and millions in possible revenue. Given the severity of today's news, share price will be weak while analysts reevaluate Imetelstat's market opportunity and the potential of its other candidate GRN-1005. The drug is in Phase 2 trials for NSCLC and breast cancer with metastases in the brain. It delivers paclitaxel across the blood-brain barrier, a difficulty for many cancer treatments. Ahead of the bell, GERN is down 47%.
PropThink is an intelligence service that delivers long and short trading ideas to investors in the healthcare and life sciences sectors. Our focus is on identifying and analyzing technically-complicated companies and equities that are grossly over or under-valued. We offer daily market coverage, weekly feature stories, and a newsletter to investors who subscribe on PropThink.com. To learn more visit us at http://www.propthink.com .
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: PropThink via Thomson Reuters ONE