Shares of clinical-stage biopharmaceutical company Geron Corporation (NASDAQ: GERN) are dropping sharply on Friday following the company's release of its fourth-quarter and full-year 2020 financial results, as well as some important clinical updates. As of 11:43 a.m. EST, Geron's stock was down by 8.7% after falling by as much as 10.1% earlier in the day.
For its 2020 fourth quarter, ending on Dec. 31, Geron reported revenue (from license fees and royalties) of $50,000, compared to the revenue of $171,000 it had recorded during the prior-year quarter. Also, the healthcare company recorded a net loss of $23.8 million -- or $0.07 per share -- compared to the net loss and net loss per share of $29 million and $0.15, respectively, that it reported during the fourth quarter of its fiscal year 2019. However, Geron's meager revenue and net loss are unlikely to be the reasons why investors are offloading its shares today.
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Why Geron Corporation Stock Is Falling Today