JNJ - Why Geron Stock Soared 23.4% Today
After four abstracts were released highlighting the latest data on its lead drug candidate, imetelstat, shares of Geron (NASDAQ: GERN) were trading 23.4% higher as of 1:21 p.m. EST on Friday.
Previously, Geron's prospects were dealt a significant blow when former imetelstat co-developer Johnson & Johnson decided against advancing the drug into phase 3 studies following lackluster mid-stage trial results in myelodysplastic syndromes (MDS) and myelofibrosis. After Geron received the rights to imetelstat back from J&J, it initiated a phase 3 study in MDS and paused development in MF.
IMAGE SOURCE: GETTY IMAGES.