2023-09-01 14:21:59 ET
Wedbush has added Geron ( NASDAQ: GERN ) to its Best Ideas List, a recent sell-off in shares and its “high acquisition potential.”
The investment bank said it believes Geron shares have been “unfairly sold off” in the wake of an FDA decision to grant a standard review with an advisory panel meeting for its drug candidate imetelstat in the treatment of low-risk myelodysplastic syndrome. The agency is expected to make a decision on whether to approve the product by June 16, 2024.
Wedbush said that it hasn’t changed its market assumptions for the drug “given its clear value proposition.” It added that while it sees a “catalyst gap” in the near-term, it also sees “high acquisition potential given the validated market and option upside in myelofibrosis.
Wedbush noted that Geron is expected to report interim Phase 3 data for myelofibrosis in the first half of 2025.
Other healthcare companies on Wedbush’s Best Ideas List are Ascendis Pharma ( ASND ) and MoonLake Immunotherapeutics ( MLTX ).
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Wedbush adds Geron to Best Ideas List, joining Ascendis, MoonLake