Geron Corporation (GERN) Releases Earnings Results, Beats Expectations By $0.01 EPS

Geron Corporation (GERN) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $-0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.06. The company posted revenue of $.21 million in the period, compared to analysts expectations of $.38 million. The company’s revenue was down -15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.

Geron Corporation opened for trading at $2.71 and hit $2.755 on the upside on Tusday, eventually ending the session at $2.72, with a gain of 0.37% or 0.01 points. The heightened volatility saw the trading volume jump to 14,69,367 shares. Company has a market cap of $432 M.

In a different news, on Jun 1, 2015, Olivia Kyusuk Bloom (EVP, Chief Financial Officer) sold 2,380 shares at $3.84 per share price. According to the SEC, on Jun 1, 2015, Melissa Kelly Behrs (EVP BD and Port&Alliance Mgmt) sold 2,380 shares at $3.84 per share price. On Mar 19, 2015, Thomas Hofstaetter (director) sold 70,000 shares at $4.10 per share price, according to the Form-4 filing with the securities and exchange commission.

Geron Corporation (Geron) is a clinical stage biopharmaceutical company focused on the development of a telomerase inhibitor imetelstat in hematologic myeloid malignancies. The Company operates in one segment the discovery and development of therapeutic products for oncology. Telomerase is an enzyme that enables cancer cells including malignant progenitor cells to maintain telomere length which provides a capacity for limitless uncontrolled proliferation. Telomerase consists of two essential components: a ribonucleic acid (RNA) template (hTR) which binds to the telomere and a catalytic subunit (hTERT) with reverse transcriptase activity which adds a specific DNA (deoxyribonucleic acid) sequence to the chromosome ends. Using its nucleic acid chemistry the Company designed imetelstat to be an oligonucleotide that targets and binds with high affinity to the active site of telomerase thereby directly inhibiting telomerase activity and impeding malignant cell proliferation.

Geron Corporation

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