Geron Corporation (NASDAQ:GERN), whose shares rallied to $6.99 recently only to pull back, made only $210,000 in revenue in its second quarter. This biotech’s potential lies in its imetelstat drug, which is being tested in two randomized clinical trials. The drug is a potential treatment for patients with metastatic breast cancer and also a “maintenance treatment following a platinum-containing chemotherapy regimen in patients with NSCLC.”
On Sept. 13, GERN stock fell in the double-digits and gave up over 20% gains intraday after markets worried over Johnson & Johnson (NYSE:JNJ) continuing with imetelstat. In its presentation, JNJ appeared more likely to continue, since it mentioned the Myelofibrosis-treating drug as a 2019-2021 potential filing (slide 15).
The irrational drop in GERN stock in so short a time may have created an entry point. When JNJ added imetelstat on its compassionate use list and, together with Geron, spent four years planning for its use, chances are good JNJ remains committed to the project.
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