GERON CORP
GERN evidence brief
What we can confirm
- BioSniper Score:
- 5.6 / 10
- Market Cap:
- $970.1M
- Lead Asset:
- imetelstat (Phase 3)
What it means
What to watch
Prepared research question
What matters most for GERN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · GERN
Geron Corporation is a commercial-stage biopharmaceutical company focused on telomerase inhibition, with its approved drug RYTELO (imetelstat) for lower-risk myelodysplastic syndromes and a Phase 3 program in myelofibrosis.
Key risk: High debt relative to cash
BioSniper Score
Based on 4 of 6 signals
Market Cap
$970.1M
Cash Runway
—
Lead Asset
imetelstat (Phase 3)Next Catalyst
Patent_Expiry · Jun 16, 2039Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 7 clinical trials · 1 catalyst · 1 FDA decision for GERON CORP.
Geron Corporation is a commercial-stage biopharmaceutical company focused on telomerase inhibition, with its approved drug RYTELO (imetelstat) for lower-risk myelodysplastic syndromes and a Phase 3 program in myelofibrosis.
- Geron reported net income of -$16.7M as of 2026-06-30 [sec].
- Cash and equivalents were $62.6M as of 2026-06-30 [sec].
- RYTELO net product revenue was $48M in Q4 2025 and $184M for full year 2025 [news · 2026-02-25].
- The company expects 2026 RYTELO net revenue of $220M–$240M, trending toward the high end [news · 2026-09-13].
- Geron announced a strategic restructuring in December 2025 to reduce 2026 operating expenses [news · 2025-12-11].
What works
- RYTELO (imetelstat) is an approved first-in-class telomerase inhibitor for lower-risk MDS, with a Phase 3 IMerge trial showing a statistically significant 8-week RBC transfusion independence rate of 40% vs 15% for placebo (p=0.0008) [catalyst · 2024-03-14].
- Full-year 2025 RYTELO net revenue reached $184M, and the company expects 2026 revenue to land near the high end of its $220M–$240M guidance [news · 2026-02-25][news · 2026-09-13].
- Geron has a Phase 3 program in myelofibrosis (MF) comparing imetelstat to best available therapy, which could expand its addressable market [catalyst · 2021-04-12].
What to weigh
- The company reported a net loss of -$16.7M as of 2026-06-30, with total debt of $168.0M exceeding cash of $62.6M [sec].
- RYTELO faces competition from ESAs, luspatercept, and azacitadine in the MDS space [pipeline].
- Geron undertook a strategic restructuring in December 2025 to reduce operating expenses, indicating cost pressures [news · 2025-12-11].
- The company's pipeline is heavily dependent on imetelstat, with no other disclosed late-stage programs beyond MDS and MF [pipeline].
From the filings
Quoted directly from source documents.
RYTELO showed statistically significant improvement in RBC transfusion independence in Phase 3 IMerge trial.
“47 (40% [95% CI 30·9-49·3]) patients had an RBC-TI of at least 8 weeks versus nine (15% [7·1-26·6]) in the placebo group (rate difference 25% [9·9 to 36·9]; p=0·0008)”
Catalysts · March 14, 2024
Geron reported full-year 2025 RYTELO net product revenue of $184 million.
“Achieved $48 million and $184 million in RYTELO® (imetelstat) net product revenue in Q4 2025 and full year 2025, respectively”
News · February 25, 2026
Geron expects 2026 RYTELO net revenue toward the high end of $220M–$240M.
“Geron (NASDAQ:GERN) said it expects full-year net revenue from RYTELO to land in the mid-to-high end of its previously stated range, or approximately $230 million to $240 million”
News · September 13, 2026
Geron announced a strategic restructuring to reduce 2026 operating expenses.
“Geron Corporation (Nasdaq: GERN), a commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer, today announced a strategic restructuring plan intended to position the Company for long-term value creation for patients and shareholders and improve its”
News · December 11, 2025
Catalyst timeline
- 2039-06-16 · Patent_Expiry · IMETELSTAT SODIUM — Patent expiry for NDA217779; potential generic entry after this date.
Risks & what to watch (4)›
Key risks
- High debt relative to cash — Total debt of $168.0M exceeds cash of $62.6M as of 2026-06-30 [sec].
- Single-product dependency — Pipeline relies heavily on imetelstat; no other disclosed late-stage programs beyond MDS and MF [pipeline].
- Competitive MDS landscape — RYTELO competes with ESAs, luspatercept, and azacitadine in lower-risk MDS [pipeline].
- Patent expiry risk — Patent for IMETELSTAT SODIUM (NDA217779) expires on 2039-06-16 [catalyst].
What to watch
- RYTELO revenue trajectory toward the $220M–$240M guidance for 2026 [news · 2026-09-13].
- Phase 3 myelofibrosis trial readout comparing imetelstat to best available therapy [catalyst · 2021-04-12].
- Impact of December 2025 restructuring on operating expenses and cash runway [news · 2025-12-11].
- Patent expiry for IMETELSTAT SODIUM on 2039-06-16 [catalyst].
Sources: Catalysts · News · Pipeline · Generated October 11, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 1.37
Lead: Approved
2 candidates
1 upcoming, next in ~4628d
No insider transactions in the last 180 days
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
255
Total value held
$737.1M
| Holder | Shares | Value |
|---|---|---|
| ra capital management, l.p. | 63,771,366 | $95.0M |
| blackrock, inc. | 47,319,779 | $70.5M |
| soleus capital management, l.p. | 41,508,659 | $61.8M |
| deep track capital, lp | 31,720,278 | $47.3M |
| state street corp | 30,497,183 | $45.4M |
| vanguard capital management llc | 26,669,029 | $39.7M |
| citadel advisors llc | 21,576,569 | $32.1M |
| point72 asset management, l.p. | 20,457,134 | $30.5M |
| clearbridge investments, llc | 19,620,320 | $29.2M |
| eversept partners, lp | 18,834,883 | $28.1M |
Showing top 10 of 255 institutional holders of GERON CORP. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 11.8%
- Days to cover
- 4.2
- Shares short
- 75,696,666
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
GERN short interestGovernance
Frequently asked questions
What is the AI investment thesis for GERON CORP?
Geron Corporation is a commercial-stage biopharmaceutical company focused on telomerase inhibition, with its approved drug RYTELO (imetelstat) for lower-risk myelodysplastic syndromes and a Phase 3 program in myelofibrosis.
What is GERON CORP's lead drug candidate?
GERON CORP's most advanced tracked candidate is imetelstat (Phase 3) for Myelofibrosis; Multiple Myeloma; Myelodysplastic Syndromes.
What is GERON CORP's next catalyst?
GERON CORP's next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA217779" — expected June 16, 2039.
Who is the CEO of GERON CORP?
Mr. Harout Semerjian is the chief executive officer of GERON CORP (GERN).
Where is GERON CORP headquartered?
GERON CORP (GERN) is headquartered in Foster City, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.