GERN - Geron: Innovative Rytelo Enters A Challenging MDS Market

2024-06-08 08:00:00 ET

Summary

• The FDA approved Geron's Rytelo for specific low-risk MDS patients, a significant milestone for the company.
• Rytelo faces stiff competition in the MDS market, particularly from drugs like Reblozyl, which limits its market share.
• Geron's financial position is stable, with sufficient funds to last two years, but they may need to raise more capital.
• Recommends selling Geron's stock; considerable risks outweigh potential benefits in a heavily competitive market.

Geron Corporation: Assessing Rytelo's Market Prospects Post-Approval

On Thursday, the FDA approved Geron Corporation's ( GERN ) unique telomerase inhibitor, imetelstat ( Rytelo ), for "adults with low- to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent anemia requiring four or more red blood cell units over 8 weeks who have not responded to or have lost response to or are ineligible for erythropoiesis-stimulating agents (ESAs)." I have been following Geron since 2018. My last three recommendations have been " sell ."...

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